Home > barack obama, culture, economy, events, humor, life, politics, wall street > are these guys kidding?

are these guys kidding?

159029463_fbff04bd72The evidence of a recession has been widespread for months: slower production, stagnant wages and hundreds of thousands of lost jobs. 

But the nonpartisan National Bureau of Economic Research, charged with making the call for the history books, waited until now to make it official — and the announcement came on a day when the American stock market fell nearly 9 percent in a single session.   -The NY Times, December 1st

Thanks for the newsflash.

I was in hibernation the last twelve months and missed it.

These guys are rocket scientists I tell you.

Did the stock market fall today because of this watershed announcement? 

Were other cavemen hibernating and just decided to stumble out of their snow covered backwoods den like I did today?  Is the market working in unison to send another signal to get more bailout money?  Are older folks like my dad who have lost their 401k faster than the Detroit Lions put themselves in a position to lose another football game, tired and wore out?  Have people with money decided to stash their cash under their mattresses?

You want to experience a recession—try living on the outskirts of Detroit.  No one needs to talk to us about a recession.  As the old adage goes, “When the economy gets a cold, Detroit gets pneumonia”.  But we still have gas at our service stations and bread at our convenience stores.  We still have our cable television, and if we had to cancel it to save money, we can get the new digital converter box here soon, at no charge last I heard.  Our 0-12 Lions still manage to sell out most the time, and our superstar athletes on all four of our major professional sports teams still command multimillion dollar multiyear contracts in our downtrodden city.

Would that be happening if we were experiencing the return of the Great Depression?  I need some help here. 

Yeah, times aren’t as good as they were.

Did we think this was supposed to be heaven?

Before you start screaming that the sky is falling, consider this: We are still spoiled to death in this country.  Has our standard of living become so high that when we have to skip the weekly trip to our local IMAX theatre we begin to consider ourselves poverty stricken?  

So, maybe I just misunderstand all the rage?  A family with 2.2 children might have to move out of their house that was worth $480,000 a couple short years ago (that is now worth $275,000), into a house that was worth $250,000 (and currently goes for $134,000).  Instead of having three brand new cars, they might need to downsize and get by with only one new one, and a slightly used ride for the second.  The guy with a Hummer might need to downsize to an Escape.  And the family cottage, well, maybe try renting it out a few weeks this summer and stay home a little more than you are used to.

Let me say this: How many people got into half a million dollar mansions and even $225,000 houses a few years back, that had no business doing so? 

When does the madness cease?  When do we get off of “the more we get the less it is enough” carousal?  We have to be the most materialistic and wasteful people to ever walk planet earth. 

This is nothing like the Great Depression.  Spare me the stupidity.  If I hear one more news commentator or ignorant politician wearing a two-thousand dollar Armani suit make the comparison, I am going go outside and find me a big rock to throw at my roommates television (and I don’t have the money to replace it).  Talk to some old-timers who have lived through the Great Depression before you act like you know what the heck you are talking about!  We’ll jump off a bridge cause we had to pawn off our Rolex, back then, men were leaping out of buildings because they couldn’t feed their families.

Here is a real newsflash for Sherlock: We are more likely to be standing in line to get the latest edition of Wii than we are to be standing in a bread line.  

I’m going back to my cave, somebody please wake me up when the recession is over.

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  1. carianoff
    December 2, 2008 at 7:41 pm

    Years ago our fathers were farmers, smiths and cobblers. Today we are all consumers, that’s our job and that’s how we keep the house of cards from falling. It’s wrong and it makes me sick, but its what we have. As long as there is a Wii in stock at Target, America isnt going to fall down the tubes. Unfortunately some Individuals may, but never the whole thing.

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