March 20, 2008 09:51 PM UTC

BBC proves that the recession is actually a depression

• 1 Comments
• by: wade norris

OK let’s review. Last Spring, Bush said their was no recession. This summer, ‘a few bumps in the road’ – this fall, “Stormy weather”, now, well their might be a depression, but my tax break will fix it.

My opinion of these changes reflect that there is indeed a serious recession and possible depression occurring, but our news media doesn’t cover the issues.

At least BBC has covered the newest element of our spiraling economy – Bush’s own ‘Hoovervilles’ are here.

If you remember your high school social studies class, or have seen “Cinderella Man” you have seen shanty villages in our past that were a part of the Great Depression.

This piece by the BBC shows that they are back, this time due to the Mortgage meltdown in the housing market.

http://www.huffingtonpost.com/…

My concerns about this are twofold. One, why is our media silent on this alarming issue? Two, what are Bush’s ‘contingency plans’ for a disruptive segment of society?

Either way, I can’t wait for a new administration to take charge and start another New Deal of sorts. And, that should not include someone who lobbied for NAFTA as a good thing for our economy.