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Video: America's Invisible Second Great Depression

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Garan's picture

Link Please.

Thanks for the post, yet, link please.

It may seem obvious to some, however, finding the link to this video is not trivial.

Thanks again.



or tiny URL:


or preview of tiny URL:


What will we call recessions in the future?

Most people aren't aware that prior to the Great Depression, recessions were referred to as depressions. Today, we refer to the period we're in now as the Great Recession, and so a rose is a rose is a rose.

We need to get competitive!

I agree with the analysis of the video, but why don't we just state the solution in plain terms. WE NEED TO GET COMPETITIVE!!!!! The Chinese are rightfully kicking our butts and taking our jobs because they can do so at a more competitive cost. Our minimum wage alone makes us uncompetitive with many other countries. At some point we have to get off our gov't sponsored moral high horse and start working again. Part of this also means kicking the bankers out who are giving us easy money and kicking the can down the road. This is a tough addiction to kick. We either have to crush the gov't bureaucracy or let it collapse on its own with a John Gault strike.

I've been calling it "The Greater Depression"

I've been calling it "The Greater Depression" for a couple years now, at least.

As has been pointed out here by several people and links to analysts, the government has been doing EVERYTHING that turned an ordinary cyclic downturn into the Great Depression". But THIS time we don't have a gold standard underpinning the money. When the next "dip" hits we have the potential for a reprise of the Weimar Republic hyperinflation, but this time with the dollar.

One potential upside: If we have a Weimar event, and you have a mortgage and enough safe cash-equivalent to meet the payments for a while, after a couple years you'll be able to pay it off for the price of a slice of toast.

= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."

That means: For each job "created or saved" about five were destroyed.

This is spot on. I think a

This is spot on. I think a bigger supportive point being overlooked is the power of current technological goods that make our lives easier than they did in the Great Depression. For example, during the Great Depression, theater/movies/etc., were still doing quite well. People wanted to keep getting their entertainment. Nowadays, there are tons of affordable forms of entertainment, thanks to free market innovations. This helps to ease our suffering. We have more generic brands, more affordable entertainment and better ease of communication/transportation.

Looking at our underemployment rates, the percentage of citizens receiving financial assistance, etc., shows a far worse picture of the state of our economy than you'll hear from MSM.

"A true competitor wants their opponent at their best." Lao Tzu

Its not really invisible

Just some people aren't experiencing it...yet. Yes many people have no idea about what a depression really looks like now since we no longer have bread lines and things.

My sister and my mother made comments months ago about how the economy is like it was in the 70's and 80s, except now people put in applications online and do resumes so you don't see the long lines outside McDonalds and Walmart like you would have decades ago.

"But you must remember, my fellow-citizens, that eternal vigilance by the people is the price of liberty, and that you must pay the price if you wish to secure the blessing." - Andrew Jackson

The answer as to what we should do?

Yes, first recognize we have a problem, and Ron Paul is the only candidate doing that.

But the answer after that is simply "Ron Paul's campaign message".

* Cut gov't spending
* Legalize the Constitution (legalize gold and silver). End the Fed or at least allow competing currencies.
* Start saving! Watch savings skyrocket as interest rates go up
* Virtually wipe out federal regulations (from the IRS to the hundreds of thousands of regulations in the Federal Registrar).
* And of course

Ron Paul's solution is THE solution, but a prophet is not with honor in his own country!

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a rEVOLution before tomorrow morning." - Henry Ford

It's sad...through the years,

It's sad...through the years, we've been given this 'impression' of how a depression looks like, that people seem to have pigeonholed what defines it into these images of 'breadlines' and 'hoovervilles' that they forget to look at what really defines it. People passing through a grocery store using foodstamps and coupons just doesn't seem to strike people as clearly as a 'breadline' outside a homeless shelter, even though we're getting to the point that it may end up being more common and widespread then even the breadlines.

I will say

how surprised I was when first paying attention to other customers at my local supermarket (I live in a large metropolitan city) and noticing that a majority were using the municipal assistance card.

I don't like to pre-judge, but I will say it bothers me that I can barely afford the simplest rations while many of those individuals have their carts full

I've wondered

On the surface of public life, things appear somewhat 'normal'.

But then I work hard at several part-time jobs, hardly splurge, keep up on rent/gas/etc, and there have been nights I've still gone to bed hungry (don't like admitting it, but it's true).

Is anyone else out there struggling too (not wishing to pry, but curious)?

The depression is invisible only to those who aren't looking.

If you only look at the main stream media or the Federal Reserve you could have missed it. But if you looked beyond to the facts, such as those on http://www.shadowstats.com/ you can't help but see it for what it is. Similarly Bill Bonner on http://dailyreckoning.com/ has been calling it "The Great Correction" for a couple of years now.

I'm convinced that the veneer that is covering the truth is becoming thinner every day and that it won't be long until the ugly truth will be too big to ignore. End of the American empire anyone??

Magna est veritas, et prevalebit. Truth is most powerful, and will ultimately prevail.

Gross Says U.S. Nearing

Gross Says U.S. Nearing Recession as Goldman Sachs Cuts Forecast