Monday, February 23, 2009

The Second World Depression

I don't know that we're headed for a depression. I hope not. But it occurred to me today that they called World War I, "The Great War," until the second one came along. So would the "Great Depression" become "The First World Depression"? We'll see...

8 comments:

José said...

That's a depressing thought.

Ken Schenck said...

That's what I'm here for :-)

Craig Moore said...

Come on Ken what happened to the "hope & change?" Don't you think that spending our way to prosperity and more stimulus will save us?

Angie Van De Merwe said...

I just read today that after this stimulus package the government will be 31% more than both terms of FDR's New Deal...

As government grows, it becomes an entity itself, that doesn't move very quickly or inexpensively...

Ken Schenck said...

I have no idea about what they're doing. I hope for the best...

Craig Moore said...

Obama is spreading the wealth and implementing his socialistic program just like I said he would do. When he said he was bringing change, he wasn't kidding. I think Obama knows exactly what he is doing,

Angie Van De Merwe said...

Some are saying that China is buying out our treasury bills and our dollar is plummeting to make it cheap for our country to be sold out from under our feet, but then, it is "good" for other countries, I'm sure...if one believes in re-distribution...and then there will be a partial nationalization of two of our biggest banks...what is happening, I don't know enought economics, or foreign relations, to know what is happening...

Others say that Obama doesn't have a clue what he is doing. I don't know either, as I am at the mercy of the media, as most of us are.

Ken Schenck said...

I have never known what to make of stimulus packages. We seemed to pull out of the 2000 slump fairly quickly after Bush's first one, but I feel completely unable to say whether it was to blame.


I recognize that Obama's package involves a lot of spending and don't know what to make of that either. I do think it makes sense that we are all tethered to the 8+% unemployed and all those facing foreclosure. I feel massively unable to speak with confidence but it makes sense to me that if those people are not kept nominally afloat, the tether of them sinking will pull the rest of America under with them.

That's why the bank bailout didn't infuriate me, although, again, I doubt any of us here on this blog or most of the pundits are really competent to judge. I just hope someone in Washington is...

... and of course while God just as often lets cultures self-destruct, it would be nice to think God's helping a little too.