By December, Recession Becomes Depression

According to Wikipedia, although there are varying opinions as to how economic recession is defined, most economists accept the National Bureau of Economic Research‘s (NBER) definition: “a significant decline in [the] economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales.”
An economic depression, however, is a more severe or prolonged recession, as measured by declines in GDP of 10% or more, or a recession that persists for 3 or 4 years.
Although America’s GDP declined “only” 2.4% in 2009, the recession in the United States began in December 2007 and intensified after September 2008. This means that if we are still in a recession by December of this year, America would have been in a recession for 3 years, and the recession becomes a depression. As December draws closer, we can expect to see and hear a lot of numbers manipulation and obfuscating doublespeak by the Punk to convince us that the recession is over.
There can be no economic recovery unless jobs are created and the unemployment numbers go down. Government does not “create” jobs; government only extracts and redistributes, taking from Peter to give to Paul.
This brief video presents America’s recession-depression as job lossess. The darker the color, the higher the unemployment rate. It’s a horror flick.
~Eowyn

To see a larger, more legible version of this video, go HERE.

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One response to “By December, Recession Becomes Depression

  1. Recovery, left/liberals say. Don’t piss on my leg and tell me it’s raining, I say.

     

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