We are far short of a depression. We only have 5% unemployment, and the economy is rather stable. A depression means our Gross Domestic Product would shrink by over 75%. The stock market has done some shrinking, but our economy is not. And even the markets have stabilized. The Dow is staying above 8000. To be equivalent of the 1929 crash, it would have to sink below 4000. We aren't seeing runs on the banks. The only major companies going bankrupt are the ones that did not show fiscal responsibility and constraint during the Clinton economic boom, much of which was built upon false exuberance (remember Clinton saying the economic cycle was forever ended?).
Are we at the end of the recession? No. Some areas are starting to recover, but many are still slumping. Barring another massive attack on the US, I would guess it will be another year or two before our economy is growing at a decent rate and consumer confidence has returned. K'aya K'ama, Gerald/gary Smith gszion1 @juno.com http://www .geocities.com/rameumptom/index.html "No one is as hopelessly enslaved as the person who thinks he's free." - Johann Wolfgang von Goethe ________________________________________________________________ GET INTERNET ACCESS FROM JUNO! Juno offers FREE or PREMIUM Internet access for less! Join Juno today! For your FREE software, visit: http://dl.www.juno.com/get/web/. ///////////////////////////////////////////////////////////////////////////// /// ZION LIST CHARTER: Please read it at /// /// http://www.zionsbest.com/charter.html /// ///////////////////////////////////////////////////////////////////////////// ==^================================================================ This email was sent to: archive@jab.org EASY UNSUBSCRIBE click here: http://topica.com/u/?aaP9AU.bWix1n Or send an email to: [EMAIL PROTECTED] T O P I C A -- Register now to manage your mail! http://www.topica.com/partner/tag02/register ==^================================================================
