Great Depression of 2016

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There is an old joke among economists that states: A recession is when your neighbor loses his job. A depression is when you lose your job.

The difference between the two terms is not very well understood for one simple reason: There is not a universally agreed upon definition. If you ask 100 different economists to define the terms recession and depression, you would get at least 100 different answers.
 
hemet dennis said:
There is an old joke among economists that states: A recession is when your neighbor loses his job. A depression is when you lose your job.


The difference between the two terms is not very well understood for one simple reason: There is not a universally agreed upon definition. If you ask 100 different economists to define the terms recession and depression, you would get at least 100 different answers.
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Haha, figured. I'm no economist and profess no noteworthy amount of knowledge on this subject, but I was asking pretty literally; what is the cause of a depression (or is that the big question?), and would the depression now a days be anything like the economics in play during the '20s?
 
oldrooster said:
Since we are now opening trade with Cuba, that may easily be a go on 2017
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We are reestablishing relations with Cuba, but the matter of trade with that nation is up to the congress. They will decide whether or not sanctions will be lifted.

Cuba has little to sell the US. The US, however, could supply Cuba with a lot of consumer goods and groceries. Too bad they don't have any money to buy it.

Now if they would give US companies and the exiles their expropriated property, and allow them to do business maybe things will change. The big sugar mill at Hershey, Cuba has been sitting abandoned for years now. The government will not operate it, but they will not allow anyone else to operate it. It rots away.

For what it is worth, I heard a rumor that Congressman Snow's family is still sitting on a ton of Batista's pesos. How the matter of debts will be resolved is yet to be determined.

Obama may see this as a great PR stunt, but I suspect he has put the USA's foot into a big cow pie. That is my take on the issue.
 
People think it can't happen here... That we live in some magical bubble of protection, because we are The United States of America.

Russia and China have nuclear capabilities that put the USA to shame (and China recently unveiled their MERS system... Bad news).

Well, when there is a rush on the banks and breadlines in the streets, we'll see how people fare then.

Bullets. Band aids. Bullion. Stock up now.

It is better to be perceived a fool BEFORE the crash, than to be a confirmed fool AFTER.

And with these TUMBLING oil prices (Obama and OPEC teaming up to destroy Russia's economy by crashing oil prices), our country has some hard times ahead. Texas is the only thing keeping us afloat economically with the oil and gas industry.

But for how much longer?

http://www.zerohedge.com/news/2014-...exas-headed-recession-due-oil-crash-jpm-warns

MrsB
 
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Cowboy, I couldn't afford those cars when they were new; and I can't afford them now. Those cars have been used and jerry rigged for so many years, they are as they say in Spanish, pegado con un moco. I have to wonder how safe they are.

Ownership of automobiles in Cuba has been a cross between a dream and a night mare for so many years. Let's see how this works out.
 
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