Recession or Depression?

[Ldyluck88]

Originally Posted by weatherboi

hey everybody!!!
great thread!!

long story short

i own a buisness i bought back in 2005
i was doing great up until the bailout of October 2008
then the consumer panic button went off and the service industry took a turn
i have been fighting this recession for almost 2 years now and i am running out of cash to keep it afloat *shrugs*
my life is too short to keep swinging

are we in a recession or a depression??
i think we are in a recession heading towards a depression...why??

because i think wall street's greedy philosophy is partly to blame...i read an article a few years back that explains it fairly well...i am gonna go find it

do i think it is gonna happen in 2011?? i dunno
what i do know is that we will continue to be told "it is gonna turn around soon", but I don't see it.

here is the article *this is not the only one i based my thoughts on*
http://www.marketwatch.com/story/wel...ression-2-2011

i am all about SLOW MONEY Capitalism/Natural/Nuture capitalism
i feel it is a start

Originally Posted by apocalipstic

I am lucky, I have a job, but my G/F lost her job with General Motors. She is back in school and I am paying the bills. We are making it work and I feel very lucky to live in an area not as heavily hit as many others.

Luckily, I have some money in the bank or we would be mega screwed.

I hear ya weatherboi..we keep hearing that it's "turning around" but all I hear about is more people losing their jobs or home!! ugh I hope things turn around for you and everyone!! Thanks for sharing your story.

Apocalipstic..I'm happy you and your g/f are making it. Sorry to hear your g/f lost her job and hope she finds one again. I wish you both good luck!
Thanks for sharing.