“We are living in a modern-day depression”

“We are living in a modern-day depression.” Hey, don’t you mean “unexpectedly”, pal? “Government transfers to the personal sector now makes up nearly one-fifth of total household income,” says Gluskin Sheff’s chief economist David Rosenberg. “Even Lyndon Johnson, architect of the ‘Great Society’, would blush at that.” Unlike the 1930s, the bread-lines are virtual, all done with EBT cards now. But like the first one, this will end when the oppressive statist regime does.

This post was last modified on June 25, 2012

Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (5)

  • Ok, when we all think of the great depression, we all think of people lined up to receive whatever. Today, we have God knows how many aid programs, so you don't have to stand in line waiting for free stuff because you don't have a pot to piss in. We don't really see the affected like we used to.

  • But with 95% of the vote of the 12% of the population that is black and 66% of the vote of the 13% of the population that is Hispanic, Obama has a chance for re-election because he only has to get into the low 40s with whites. I just think Romey has to go with Rubio for VP to close the gap with Hispanics and give himself a better chance in Florida.

    • Don't forget one important thing, the apathy factor.
      There isn't the hoopla that there was in '08, and most of the slackers/occupoopers will either forget to vote, or sleep through the whole thing.

      • And now that cigarettes are so expensive, it will cost way more to get the bums on the bus. My guess is that with inflation, each bum probably demands $20 AND a pack of blows for an election ride. Gone are the days when a cup of coffee and $5 would have 'em lining up for blocks.