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No, The 'Resession' Is NOT Over


Posted by Non-Hamster on August 1st, 2011

For a while now I have been seeing various references and statements that indicate that economists and the White House have essentially declared that the 'recession' is over and has been for quite some time.

It's not.

More than that, if they were actually to be honest about it and call a spade a spade, it's not a 'recession' at all.  It's a full on depression, second only to the Great Depression of the 1930's.

Prices continue to skyrocket out of control while incomes remain the same or actually decrease.  For the last two years the federal government has been denying cost of living increases for people on social security and social security disability, saying that the cost of living has not increased.

This statement tells me that they're either just plain incompetent or are lying to save money.  I personally believe the latter.  I can tell the cost of living has in fact increased because prices at the store have been steadily increasing.  In fact, some prices are actually 50% to 100% higher than they were two years ago.  That's the cost of living going up.

Another sign that the economy is still in the toilet is the prices you can get when selling things like silver coins.  Because I desperately needed the money I recently sold my wife's collection of morgan silver dollars and I was surprised and disappointed to find that these coins, many of which dated before 1890, only brought the base silver price of about $25 each when I know that they should have brought in upwards of $50 each.  Some of them should have gotten me upwards of $100 each and yet they all went for $25 because nobody would pay more than that.

So the next time somebody tries to tell you that the economy is on the mend take a look at how much more you're spending at the store for the same things and tell 'em they're suffering from delusions if they think things are better.

Technorati Tags: depression, recession, cost of living, economy, washington is lying, getting worse

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