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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (683817)11/8/2012 1:36:53 PM
From: i-node  Read Replies (2) of 1571935
 
>> By what measure?

There is no measure. Mort Zuckerman referred to it as "modern day depression". You can't measure it like we did back in the 30s because the metrics have been destroyed by government programs like the FED printing money and foodstamps, healthcare and unemployment insurance from borrowed money. All of which serve as buffers.

But it is borrowed (or debased) money, which eventually will come to a head (AKA the "fiscal cliff", unless they kick the can again).

We are in the beginning of a very long, very painful depression. Because the US can continue borrowing for a while it may be a few years before people see it. Obama policy has accelerated it, but the US can borrow and print a hell of a lot of money before the depth of the collapse becomes apparent.
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