Thread: Rosenberg: Depression, Not Recession

Rosenberg: Depression, Not Recession

Wednesday, November 25, 2009 10:11 AM

By: Dan Weil

Economist David Rosenberg isn’t worried about when the recession will end: He’s worried about when the depression will end.

That’s right, the “dâ€

I have to say I agree that this is not a "recession" but is a depression, it even feels different out there, and we are seeing things happening, that for those of us who were not around for the 30's depression,, have not only not experienced in a recession, but were only happening back in the 30's.

One example is the amount of families becoming homeless. Our local paper did an article on the ever increasing numbers of families that are using their vehicles to live in, or doubling up in housing.

I do think, and firmly believe, that out of this, we will do a big rebuilding of this nation, it's values and making us more resourceful than we have had to be in 80 years. Maybe this is a sort of "cleansing" for this nation?....