T Nation

IMF: We're in a Depression


#1

Or very nearly...

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8039789/IMF-admits-that-the-West-is-stuck-in-near-depression.html

Gold -- > $10,000, then finally to infinity as the dollar vanishes as money

Silver -- > $250, then to infinity also.

Buy agri-land and learn to farm, gents.


#2

Strangest depression that I've ever heard of. I went to the mall with my wife over the weekend and it was so busy we couldn't even find a parking spot. My brother who has a very successful business advertised for a manager, wanted to pay him/her 60-k plus all kinds of benefits and he only got 4 applicants. He also advertised for movers (owns a moving company too). He advertised $10-$14 per hour based on atitude and experience. He only got 2 applicants.

Here's what I think has happened; Obama has created two economies. One economy is legitimate. Where people are trying to improve their lot in life through hard work etc. The other economy is called "beat the government" economy. Here a person is trying to extend unemployment, welfare, or other government aid of some kind.

No one will convince me that this economy is in a recession and certainly not a depression, it's just changed (for the worse) as described above.


#3

There is normally very little correlation between US and Northern European economic growth. In fact US economic growth has a greater correlation with the UK, Australia and New Zealand then Northern Europe. The article could be true but it would be outside the norm.


#4

I lol'd.

How can any sane person believe this?

Unemployment increases 3% and the world keeps on spinning...


#5

A local energy company in Houston put out an advertisement for apprentice electricians a few weeks ago. In five days, they received over 1000 applications for two positions.

Your brother should open a franchise down here. Labor, it would seem, is a buyers market.


#6


Did they really say that?

http://www.imf.org/external/country/USA/index.htm