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Recession or Depression, that is the question of      June 30, 2014?

As all good Americans let's be politically correct in defining our current set of economic circumstances. The new, current administration has been in office 5.5 years and has driven America into debt 3.5 times that of the 2008 figure. They have yet to fix a 1 Trillion issues but have spent over spendingand have a current overspending amount of 6 Trillion in the National Debt and are hiding another 4 Trillion as a negative balance in the Federal Reserve Bank. Total 10 Trillion US Dollars. Where did it go?

In addition they have spent Americans money (created by debt by the US Government) on other than correcting the "free for all" that was sponsored by the Banks, Wall Street and the Government that led to the crash of August 2008. The aforementioned  were all warned by the Fed Chairman Alan Greenspan in 2004. This Banking lust if you are the receiver of all these before and after funds or fraud if you played by the rules and lost everything because of you're believing in American Political system.

In case you missed it in 1999 President Clinton repealed the Glass Steagall Act 1933, that had been put in place during  the Great Depression of 1929. Simply put this Act protected Americans by separating the Banking Systems. You had your Savings Bank who could only take limited risks with your money such as Blue Chip Stock investments, "No Loss Potential." On the other hand you had Investment Banks who could risk your money and theirs but had to tell you could lose your investment and yield. All was at RISK of loss.

 

Back to the Point in Fact. Recessions are Short averaging 6 to 18 months, maximum.

Recession

According to economists, since 1854, the U.S. has encountered 32 cycles of expansions and contractions, with an average of 17 months of contraction and 38 months of expansion.[5] However, since 1980 there have been only eight periods of negative economic growth over one fiscal quarter or more,[55] and four periods considered recessions:

Depression

For the past three recessions, the NBER decision has approximately conformed with the definition involving two consecutive quarters of decline. While the 2001 recession did not involve two consecutive quarters of decline, it was preceded by two quarters of alternating decline and weak growth.[55]

Great Depression

The best-known depression was the Great Depression, which affected most national economies in the world throughout the 1930s. This depression is generally considered to have begun with the Wall Street Crash of 1929, and the crisis quickly spread to other national economies.[9] Between 1929 and 1933, the gross national product of the United States decreased by 33% while the rate of unemployment increased to 25% (with industrial unemployment alone rising to approximately 35% – U.S. employment was still over 25% agricultural).[citation needed] The probable causes of the Great Depression include the loose money policies of the Federal Reserve during the latter 1920s and the consequent misallocation of capital based on easy and inexpensive credit,[citation needed] although this is still hotly debated.

A long-term effect of the Great Depression was the departure of every major currency from the gold standard, although the initial impetus for this was World War II. See: Bretton Woods Accord In any case, the world economy has simply outgrown the capacity of additions to the world gold supply to accommodate the increase in world population and increased trade without periodic, painful revaluations of any currencies tied to gold.

Long Depression

For more details on this topic, see Long Depression.
New York police violently attacking unemployed workers in Tompkins Square Park, 1874.

Starting with the adoption of the gold standard in Britain and the United States, the Long Depression (1873–1896) was indeed longer than what is now referred to as the Great Depression, but shallower. However, it was known as "the Great Depression" until the 1930s.

Panic of 1837

Main article: Panic of 1837

The Panic of 1837 was an American financial crisis, built on a speculative real estate market.[10] The bubble burst on May 10, 1837 in New York City, when every bank stopped payment in gold and silver coinage. The Panic was followed by a five-year depression,[10] with the failure of banks and record high unemployment levels.[11]

National Debt  National Debt Fed Reserve
12/31/2008 6/30/2014 6/30/2014
-10.5 Trillion -17.6 Trillion -4.8 Trillion

50 years of Over Budget

5.5 years of Over Budget  Normal Negitive Float
- 800 Billion
-6.9 Trillion + -4.0 Trillion =
5.5 Years 2014 -10.9 Trillion

Recession or Depression, that is the question of      June 30, 2014?

Ben Bernanke Federal Reserve Chairman said just 2 months preceeding the 2010 Congressional re-election " America is out of it's Recession"

Potically correct statement would be "America is in it's Greatest Depression of all time."

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