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Biden: "It's a Depression For Millions of Americans"
Joe Biden said yesterday:
My grandpop used to say ... "When the guy in Minooka's out of work, it's an economic
slowdown. When your brother- in-law's out of work, it's a recession.
When you're out of work, it's a depression.”
[Asked how he views it, Biden responded:] Well, it's a depression. It's a
depression for millions of Americans, through no fault of their own.
Before you decide whether Joe is just shooting his mouth off or he's onto something, read this, this and this.
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The current state of affairs make me long for the days of of W and his cadre of colorful characters.
Everyone has taken a bad hit from the recession. I believe it is time to take our destiny in our own hands and recover at least some of the losses through trading the markets.
Today, we had a big drop in the end of the day, as nvestors were probably looking for an excuse to sell.
Richard Bove had made some good calls in the past, and that may be why they sold today on his comments.
By the way, the Invetrics DJIA index timing signal switched to Short prior to market open today (unrelated to the analyst's comments), and warned web site visitors of today's potential drop in the market.
It is up a respectable 64.84% for the year (as of October 20, 2009) and it is free of charge for individual investors at:
http://invetrics.com
I heard on radio that the courts are having trouble getting people to serve on juries. So many Americans are unemployed and so desperate that they beg to be let out of duty. They can’t spare one day, they plead, not looking for a job. Some break down and cry.
Others have so little money that they can’t afford to make the daily trip to the courtroom on jury pay.
Biden has to be the most entertaining player on the political stage right now.
He's just a "Regular Joe." Keep the circuses coming, 'cause I'm all out of bread.
It's a depression listening to VPJB!!
Yes Great Depression 2.0 began for me on Xmas eve
2001. Its eerie watching everyone catch up to where
I was.
Vast right-wing conspiracy.....
Vast left-wing conspiracy.....
Both think that they are correct.
And you and me in the middle of the squeeze.
+27 trillion
Thanks Rainman.
Hey y'all. Tune in to the tier 2 pundits....Boortz, Lewis, et.al. for better stuff.
Wait a minute. Maybe I'm not recalling the characters properly, but was it not JB who said, a couple of weeks ago, that the recovery is exceeding his expectations?
If I'm wrong, someone help me with my memory here.
Grazie!
You are correct.
However, as with all comments coming from this WH crowd, anything said yesterday is null and void. The replays of contradictory comments on Fox News are nothing but evidence of a vast right-wing conspiracy.
The most amusing of all, by far, is Obama's claim that he only met Blago once from afar at a baseball game. Then a dozen pics of him at various functions with his arm around Blago surface throughout the internet within minutes of his statement.
This is all good for skits on Comedy Central. No need to pay writers to make it up, either.
Doesn't Hill Clinton also have trouble remembering stuff?
Like the IRA-bombed hotel and Bosnian snipers at the airport.
Probably these guys took some bad acid and have never actually recovered.
FED, Treasury still performing 'if you build it, they will come' play in hopes that economic recovery is mind over matter...if you don't mind, it doesn't matter....But most people DO mind and are experiencing the same effects that were suffered in the Depression. Problem w/ jawboning the market higher is that a slip of the lip can send it right back to hell.
I've thought at times we're about 9 years into a Depression that may last 20 years or more. And then everyone calls me a wet blanket and whacks me over the head. But consider market returns over that time, the change in dollar value, especially related to commodities; employment, value of wages, etc. I think if it weren't for massive gov't spending we'd be at a violent and dangerous pass by now. Biden may be acting out the Blind Squirrel hypothesis.
In the first instance, Hannity is a stooge. That places the video of Joe Biden's statements in context.
Joe Biden has said two truthful, incisive things recently.
One, he thinks Afghanistan is a mess.
Two, he thinks we are in a depression.
Note that he could have, but did not, call Hannity a stooge.
it is a depression. many of us knew it already.
seems to me the remedy is to let it all collapse, and then let the strong financial hands pick up the pieces.
from reading rothbard's analysis of the depression (and also `the forgotten man') it seems obvious that using delaying tactics prolong the downturn and also the severity.
Yes, and sometimes it makes you wonder if they're using these delaying tactics deliberately. That's really the next thought that occurs, isn't it?
the biggest depression in amerika is biden's mouth and brain...you could create another government white elephant boondoggle program to add 1 trillion usd more to the debt by trying to fill his head with cement.....even john holmes' dick couldn't fill this bitch's eternal mouth....
but we are in a depression so true...and it isn't ending in our life times....
i dont know why, but i like this guy
he is naively retarded, and as a consequence acts like Jim Carry in Liar Liar
thanks CB I needed that!
“Banking was conceived in inequity and born in sin . . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again. . . . Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit."
Josiah Stamp (former president of the Bank of England)
sean hannity is probably the dumbest piece of shit, second only to beck, on tv. he has lost all credibility.
yea, let's go back to the state run media nbc,cbs, abc, cnn and all of their collective credibility. Which, funny, their collective ratings don't add up to FNC. Theone, dude, come on.
Don't trust the MSM.. BTW, WE ARE #1 on cable! heh
1. State run media? Sounds like you drink Limbaugh's Kool Aid.
2. Faux News dominates CABLE news. It doesn't beat the regular media outlets like NBC, ABC, CBS.
3. Of course Faux News wants to impugn the credibility of other news stations. It makes it harder for them to lie on Glenn Beck and Sean Insanity.
Find a dumb broad, dye her hair blonde, and make her a Fox News Anchor. It's a lovely formula.
And then have Dick Morris and Ann Coulter rant on your show incoherently.
I guess that's "news" to some.
from a loss of wealth point of view I believe Dpression 2.0 has expereinced worse deflation than GD1, if you tank all the bank losses and spread the bailout tax dollars over US population, much worse off per capita loss.
Because of the social safety net that was not around in 1930s such as Medicare, Soc Security, unemployment insurance, COBRA susidies etc...we do not have hobos on the rails yet. However illegal immigrants are a less visible version of Okies of old.
And we have the big bank bailouts...and govt debt as opposed to private debt or private loss.
Will not repeat but will rhyme
Senate is the problem guys and gals. I got pissed in the early - mid eighty's and no one f**ckin cared then either that there corupt, or for that matter the cheerfull idiots who voted them in. The nation I knew growing up as our city's burned to create a crisis by the usefull idiots for the war on poverty stooges never admitted there complicity but many turned so called right wing conservatives.
All ism's are bad so grow a set. F@ck you all left and hard right leaning govtards. My deprogrammed college kids think your all assholes and truly they know you are theives and assholes upon humanity who works for a living. F@ck you very much, and they will not utilize debt since I will kick there ass. There Father not in debt to cheerfull and complicant idiots. Wage=savings savings=income idiots...
What do I think? Joe must actually want a recovery because it must start with trust of our hybrid financial and political system, which can only come as a result of transparency and reform (if they just try to pretend like everything won't change when they have all been exposed as frauds banking/politicians, the entire system will crash due to a crisis of confidence/character). People know they are being lied to, in some cases they are willing to go along with it because they want to believe things are going to get better.
Joe is smarter than all of the handlers, since I think he knows from his blue collar roots that if it quacks like a duck, well he calls it like he sees it, and he may be campaigning for 2012. In addition, the quicker we acknowledge what we already know the quicker we can reset, let the market fall to a more reasonable level, and rebuild. Half the frustration and mistrust of government evidenced by the town hall protests is as a result of knowing that government is lying to us about the economy. And, if they are willing to lie to us about that what else might they be lying to us about (health care, swine flu, banking).
A rose by any other name would smell as sweet or as sour (great recession/depression).
You can always count on someone from PA to tell you what the funk is up
I kind of forgot that Joe was still hanging around somewhere.
The guy says so many bizarre things, who will listen to this particular statement. He really reminds me of Robot Chicken. :)
Give it up for Williams Street Productions located in the heart of Atlanta GA. They bring us such fine shows as Robot Chicken and the soon to come Freaknik: The Musical. I can look thru their windows from my friend's balcony on 13th st :-)
http://en.wikipedia.org/wiki/Williams_Street
Don't forget Squidbillies.
Hannity sounds like an actor upset that Biden ruined the take in the climax of the movie, ala Christian Bale in T3, but he is not nearly as mad as Rahm Emanuel. Here, I've combined the two events for you behind the scenes - worth the read:
Rahm Emanuel: KICK YOUR FUCKING ASS!
Joe Biden: Rahm, Rahm –
Rahm: I want you off the fucking set you prick!
Joe: Rahm, I'm sorry.
Rahm: No, don't just be sorry, think for one fucking second. What the FUCK are you DOING ? Are you professional or not?
Joe: Yes I am.
Rahm: Do I fucking walk around and rip down the illusion of a recovery?–
Robert Gibbs: Rahm, Rahm –
Rahm: No, shut the fuck up Gibbs! Do I want – no! No! Don't shut me up.
Gibbs: I'm not shutting you up.
Rahm: Am I going to walk around and rip your fucking lights down, in the middle of a scene? Then why the fuck are you walking right through? Ah da da dah, like this in the background. What the fuck is it with you? What don't you fucking understand?
Joe: (inaudible)
Rahm: You got any fucking idea about, hey, it's fucking distracting having somebody walking up contradicting Barry in the middle of the fucking scene? Give me a fucking answer! What don't you get about it?
Joe: I was looking at the light.
Rahm: Ohhhhh, goooood for you. And how was it? I hope it was fucking good, because it's useless now, isn't it?
Joe: Ok.
Rahm: Fuck-sake man, you're amateur. Barry, you got fucking something to say to this prick?
Barry: I didn't see it happen.
Rahm: Well, somebody should be fucking watching and keeping an eye on him.
Barry: Fair enough.
Rahm: It's the second time that he doesn't give a FUCK about what is going on in front of the camera, alright? I'm trying to fucking do a scene here, and I am going "Why the fuck is Joe walking in there? What is he doing there?" Do you understand my mind is not in the scene if you're doing that?
Joe: I absolutely apologize. I'm sorry, I did not mean anything by it.
Rahm: Stay off the fucking set man. For fuck-sake. Alright, let's go again.
Barry: Let's just take a minute.
Rahm: Let's not take a fucking minute, let's go again. And have YOU fucking walking in!
Rahm: You're unbelievable, you're un-fucking-believable. Number of times you're strolling-a-fucking around in the background. I've never had a VP behave like this. Ehhh…you don't fucking understand what it's like working with actors, that's what that is.
Joe: No, that's –
Rahm: That's what that is man, I'm telling you. I'm not asking, I'm telling you. You wouldn't have done that otherwise.
Joe: No, what it is, is looking at the light and making sure, that you are, ugh –
Rahm: I'M GOING TO FUCKING KICK YOUR FUCKING ASS IF YOU DON'T SHUT FOR A SECOND! ALRIGHT?
Barry: Rahm, Rahm. It's cool.
Rahm: I'm going to go…Do you want me to fucking go trash your Scranton lights? DO YOU WANT ME TO FUCKING TRASH YOUR? Then why are you trashing my scene?
Joe: I'm not trying to trash your scene.
Rahm: You are trashing my scene!
Joe: Rahm, I was only –
Rahm: You do it one more fucking time and I ain't walking on this set if you're still hired. I'm fucking serious. You're a nice guy. You're a nice guy, but that don't fucking cut it when you're bullshitting and fucking around like this on set.
Barry: Alright, I know, let's, let's — (inaudible) –
Rahm: Yeah, you might get it. He doesn't fucking get it.
Barry: I got it, I know. I get it. I get it. I know.
Rahm: You might. He. Does. Not. Get It.
Barry: We made good adjustments. For real, honestly. I get it. Just walk for five seconds.
Rahm: No, I don't need any fucking walking. He needs to stop walking.
Barry: I get that –
Rahm: I ain't the one walking. Let's get Hannity and put this back on and let's go again. Seriously man, you and me, we're fucking done professionally. Fucking ass.
Macbeth : "fair is foul, foul is fair"
Dave Chappell: "I keep it real"
http://www.youtube.com/watch?v=CaAowZt7U6E
Ironic isn't it.
We all say we want straight talking politicians and when one speaks honestly and doesn't give us the usual political spin, we jump all over him and say things like please, someone give him a teleprompter so he can give us nice spin.
Anyways, I don't think he meant we're in a depression (though we might be close) but that it's a depression for those without work and that would be the truth wouldn't.
Warning
http://www.pbs.org/wgbh/pages/frontline/warning/view/
They need a muzzle for Joe, he went off the reservation using the "D" word. I like when speaking of the swine flu he said "I'd never let my family ride in a train or airplane", you know like with the poor folk.
Video of swine flu comment: http://joebidensaidthat.com/2009/07/30/concerning-the-swine-flu
Refreshing to hear someone admit it. Yes, we are in a Depression. Have been, are currently and will be for sometime. Now, how are the spin doctors going to respond to the latest Bidenism? Well, he did condition his remarks with "for millions of Americans". We're going to hear about unemployment being worse for some and not for others. The spin doctors will be talking about the millions of Americans who are enjoying new prosperity.
Honest is the best policy.
We are in a Depression, it just isn't obvious because Bernanke has printed dollars to avoid deflation, but our standard of living is dropping just as fast. It is just hard to grasp that when nearly everything economic is measured in nominal dollars.
Change the unit of measure, and we are in a full blown Depression.
It was obvious in the abrupt crash. It was obvious in the monetization. It was obvious in refuse the line (military) to reform or prosecute the wrongdoing, the contrariness to law. It was obvious in the alphabet soup acronyms applied to the bailout/propping mechanisms which kept the iniquitous system alive. It was obvious in the assumption of the MBS, the GSE debt, the shill buys by the Pds of the treasuries. It was obvious by the similarity in response by the world's disparate countries adopting similar strategies.
Reflation by any means. Destroy the false hope of free markets. Take counteracting measures to prop every illusion. Use the power of fiat currency to produce artificial counterfeit to fabricate.
In the fullness of time will come the realization. There is little more to plunder. You have exhausted the mine of greater fools.
Time to realize, that it is time to pay the piper.
"Reflation by any means."
I came to the same conclusion myself some time ago, as I suspect you did also.
There is little more to plunder.
I agree here also. All we are seeing now is fighting over the corpse.
Agree. However, Bernanke runs Fed like CIA operations.
Ahhh the "D" word, does Joe's colloquialism infer that it effects regions (kin) removed from ones own back yard, till it comes to your door. Umm illness in any system has a starting point and then moves if unimpeded through out the system.
Skippy...to get the flu shot or not...umm
Actually, if you listen to him, he didn't declare it was a depression. He was saying that to millions of Americans, it seems like a depression.
I've collected many Bidenisms at http://joebidensaidthat.com/ - enjoy!