August 4th, 2011 2:25 PM by Gregg Mower
Well the text book says that a recession is when there is 2 consecutive quarters of declining Gross Domestic Product or GDP. The first thing you have to ask is who compiles these GDP number? Answer; the government, this is kind of letting you rate your own performance at your job. The definition of recession vs. depression from the guy on the street is " a recession is when you know someone out of work and a depression is when you are out of work". I know not very scientific, however, the question to the numbers presented to us, the American people, should be how many people are unemployed but also how many have given up and moved back to a one household income and don't or can't file unemployment claims as well as what is the lifestyle of the average American compared to 10 years ago. These answers might just surprise the powers at be.
I would venture to says that history will show that the beginning of this century we actually were in the biggest depression since the 1930's. It has been caused by runaway government and subsidies and entitlements. Raising of taxes on those people that actually run the economy (the Rich) would be a great mistake as money in today's world is easily transferred over seas with nothing more than a phone call. With the money leaving there are no taxes and no income and no American Job provided by the "so-called Rich". This is just an easy political ploy as the politicians know that the average American is not Rich so they assume the taxes will be on those that can afford to pay higher taxes. While this may be true in theory, they fail to tell the American people that the Rich got Rich by being smart so if the Rich are taxed more they will not spend more in America and employ Americans, so unless you do not have a brain you can and will eventually see that lies being fed America. I would go to the expteem and say the way to get a positive change to the Government now, as we have all but been stripped of our 2nd amendment rights, would be for American's to rise up and uniformly not pay taxes or refuse. Yes, this would cause the IRS system as well as the monetary system to uniformly fail and would empower the people again to choose how this country should be run again getting back to basics of freedom. Don't Forget Boston 1773!
Again welcome the comments.