Comments on: Quote Of The Day: Let’s Use The Word “Depression” http://themoderatevoice.com/24821/quote-of-the-day-lets-use-the-word-depression/ An Internet hub with domestic and international news, analysis, original reporting, and popular features from the left, center, indies, centrists, moderates, and right Mon, 28 May 2012 19:14:21 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Who Will Look After the Workers? http://themoderatevoice.com/24821/quote-of-the-day-lets-use-the-word-depression/comment-page-1/#comment-166493 Who Will Look After the Workers? Mon, 08 Dec 2008 13:05:10 +0000 http://themoderatevoice.com/politics/economy/financial-crisis/24821/quote-of-the-day-lets-use-the-word-depression/#comment-166493 [...] Quote Of The Day: Let’s Use The Word “Depression” [...] [...] Quote Of The Day: Let’s Use The Word “Depression” [...]

]]> By: Jim_Satterfield http://themoderatevoice.com/24821/quote-of-the-day-lets-use-the-word-depression/comment-page-1/#comment-166299 Jim_Satterfield Sat, 06 Dec 2008 03:29:45 +0000 http://themoderatevoice.com/politics/economy/financial-crisis/24821/quote-of-the-day-lets-use-the-word-depression/#comment-166299 Hey, we're only halfway to the Great Depression. Good news! At least for those who might seek to deny how serious things really are. It certainly seems that there are those willing to see the auto industry and its employees go under, tacking another few million onto the unemployment rolls. Meanwhile, the finance industry has not come close to doing what they were supposed to do with their bailout, which was to start the credit that our economy needs flowing again. Truth is, unless you want a crash as bad as the Great Depression was, we're going to have to swallow and provide a cushion keeping the current debt fueled system from crashing so hard that it makes the Great Depression seem like a cake walk. Look at the comment on Reich's blog about how Citi is treating its customers (Myself included.) even as they get this massive infusion of help from the government. I understand that the finance industry people are planning on coming back to Congress to ask for more of that money to be released. I think the only appropriate answer to that request is that they will have to swear under oath to Congress that they will mend their ways in terms of providing liquidity to the credit market, both business and consumer or their assets will be redistributed to someone who will do so. And the people responsible for this fraud on the American people can have some quality time in Federal prison. Can you tell that I'm annoyed by the big banks not doing what they were claiming they would do if only we (Through our duly elected representatives.) would agree to rescue them from their own stupidity? Hey, we're only halfway to the Great Depression. Good news! At least for those who might seek to deny how serious things really are. It certainly seems that there are those willing to see the auto industry and its employees go under, tacking another few million onto the unemployment rolls. Meanwhile, the finance industry has not come close to doing what they were supposed to do with their bailout, which was to start the credit that our economy needs flowing again. Truth is, unless you want a crash as bad as the Great Depression was, we're going to have to swallow and provide a cushion keeping the current debt fueled system from crashing so hard that it makes the Great Depression seem like a cake walk. Look at the comment on Reich's blog about how Citi is treating its customers (Myself included.) even as they get this massive infusion of help from the government. I understand that the finance industry people are planning on coming back to Congress to ask for more of that money to be released. I think the only appropriate answer to that request is that they will have to swear under oath to Congress that they will mend their ways in terms of providing liquidity to the credit market, both business and consumer or their assets will be redistributed to someone who will do so. And the people responsible for this fraud on the American people can have some quality time in Federal prison. Can you tell that I'm annoyed by the big banks not doing what they were claiming they would do if only we (Through our duly elected representatives.) would agree to rescue them from their own stupidity?

]]> By: mikkel http://themoderatevoice.com/24821/quote-of-the-day-lets-use-the-word-depression/comment-page-1/#comment-166288 mikkel Fri, 05 Dec 2008 23:20:39 +0000 http://themoderatevoice.com/politics/economy/financial-crisis/24821/quote-of-the-day-lets-use-the-word-depression/#comment-166288 "Coupled with those who are too discouraged even to look for work, I’d estimate that the percentage of Americans who need work right now is approaching 11 percent of the workforce."<br><br>I'm not sure why he needs to estimate, it's contained in <a href="http://www.bls.gov/news.release/empsit.t12.htm" rel="nofollow">the jobs report</a>. They don't talk about it but it's U-6 and is 12.5%. “Coupled with those who are too discouraged even to look for work, I’d estimate that the percentage of Americans who need work right now is approaching 11 percent of the workforce.”

I'm not sure why he needs to estimate, it's contained in the jobs report. They don't talk about it but it's U-6 and is 12.5%.

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