In economics, what is a depression (with pictures) a level physics electricity notes

##

In general, the Great Depression was marked by a significant decrease in industry and significant job loss. Earning less money meant less money for purchases of consumer goods, or for investments. Failure to invest or purchase meant companies could not rehire workers. There was a greater dependence on public assistance, and job recovery was minimal.

Though occasionally the GDP increased during the 1930s, it did not fully normalize until US involvement in WWII. This spurred industry, employed young men as soldiers, and meant that for a time, there were a greater number of jobs than there were people to fill them. Women, for the first time, became workers in industry as Rosie the Riveter figures, to fill jobs that normally would have been taken by men.

Many look at WWII as the end of the Great Depression. Today many economists fear a depression again based on examining unemployment, need for public assistance, and rising costs of goods and services that are not in keeping with salaries in most industries. This time, the greatest fear is job loss, because some manufacturing and technology industries are moving organizations overseas, where labor is less expensive.

A depression today might not be indicated by a 10% decrease in the GDP, but might instead be the result of business practices intended to be more profitable. Outsourcing is one trend that may prove especially costly to the average worker in the US, and as a result to the overall economy.

Since the 1980’s when Ronald Reagan removed tariffs on foreign goods, businesses have begun moving overseas to take advantage of cheap labor and remove the crippling greed of the labor unions, which when developed, were a necessary entity in order to protect the worker from the robber barons.

It is impossible for government to not be involved in private business. We are all part of the government. We are all part of the community. Greed spawned this recession just as it did the Great Depression. As an individual, I have no power to stop Wall Street from running companies into the ground to increase profit for rich share holders and insuring CEO bonuses.

It is obvious that the argument that we should leave business alone to keep the best and brightest is invalid. Obviously, big business is rewarding bad business practices more than they are the good. I think we have all lost sight that "we" are the government.

We need to get together and stop listening to the conservatives and the liberals. I know of no one that falls completely into either of these categories. We the people, have to push for our elected officials to bring back our rights. Our right to life, liberty and the pursuit of happiness.

Health care is out of control because of greed. Oil prices are out of control because of greed. Profits and salaries for these two areas have never been higher and these are two items needed in order for we the people to have life, liberty and the pursuit of happiness.

However, if you want to risk getting shot by your own weapon, then by all means get a gun. It’s of course more likely that you or someone in your household will be injured by that weapon than it is that it will become a legitimate means of defense. And when we all have guns, if this is indeed a less moral time? What then? A brilliant friend of mine was shot and killed by his girlfriend who then killed herself. I spent years arguing with him about the dangers of keeping a gun in his house. I so wish he had won that argument and was still alive.

I can appreciate anons work and struggle to reach the middle class. I’ve gotten there too, but guess what? The middle class is disappearing and when the government takes away services for them, it gets even worse. Moreover, not everyone has the same "gusto" because of lots of different circumstances. Someone with mental illness for instance might be willing to work hard, but can’t. Some with a physical illness that goes untreated could be trying darn hard but can never make it into that quickly dissipating middle class. Anon, not everyone has the strongest bootstraps in the world, and though your Horatio Alger actions are clearly laudable, I can only guess that you possess more than strength of character– perhaps physical and mental wellness?

1.) Cash may be useless in a hyperinflated economy. The Bailouts and Obama’s economic plan of more spending will bring hyperinflation causing your cash to loose value. Invest extra income in commodities. Foreign Gold coins are a good choice but do your research, it could go as high as $2000 per ounce. Still, have some cash on hand for short term needs. Obama may declare a bank holiday.

2.) Do your best to have multiple skills that will help you get work in vital areas that will always be hiring. Even be prepared to do physical labor. Put in extra hours, be early, stay late being productive and make yourself a valuable worker who is least likely to be let go.

4.) This will be much bigger than the 1930’s ever was, we owe 50 trillion dollars. To bail out the Car folks we borrowed 33 Billion from Middle Eastern Countries and we owe the rest of a 50 Trillion Dollar bill to the rest of the world including Countries hostile to us. The bailouts is daylight robbery of US citizens and won’t work. Our bought and paid for Congress is helping their buddies, the people won’t get a dime.