This Recession Is Not Like the Others
As they used to say on Sesame Street, "One of these things is not like the others, one of these things is not the same." The current recession "is not like the others." At 33 months it is already more than three times longer than the average length of the other ten recessions we've had since WWII. There are no clear signs it will be ending anytime soon. Glimmers of a recovery appear from time to time, but most indicators remain depressed and many are worsening. On balance, the outlook is more negative than positive. Not since the Great Depression have we had two consecutive years of unemployment in excess of nine percent. What we're seeing is economic stagnation.
read the full essay by Ron Ross here
3 comments:
my boyfriend just watched the doc. 'crude' about oil...and according to it/him we have about 5 years before everything collapses. its all about oil. money isn't even valid. once the oil is gone everything as we know it...gone.
i can't really fathom it or believe it but there ya go.
yup... I just finished reading "The Long Emergency" by James Howard Kunstler. Pretty much says the same thing, although Kunstler doesn't say it will be 5 years... more like 20 to 30 years from now, but it will be a long and painful time of chaos and struggle.
thanks for the recommend (for him i wont want to read it!) better start building our earthships...
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