Conspiracy Theorists have figured it out - Were in a Depression

[LightinDarkness]

Yes, JREF members, we can all sleep safely knowing that the Conspiracy Theory crowd has suddenly become experts in economics and have determined beyond any reasonable doubt that we are indeed in a economic depression.

Sayeth the woos:
You know something is wrong, you know that the Stock Markets around the world have fallen 50% or more in the last year. You have watched the prices of your groceries get higher and seen gas go from 1.35$ USD to nearly 5.00$ in some places over the last decade but the fact of the matter is you do not know why and how we got where we are today.

Now, I know that the stock market has surged more than 20% in the past month - making it one of the quickest bull market runs in history. We must ignore that fact. I know that the data shows deflation is a continuing problem and the price of food and gas continues to be subject do deflation. We must ignore that fact.

We must instead listen to the conspiracy theorists, who are here to tell us like it is and are prepared to guide us all on how to panic and act hysterical like the awakened sheep were supposed to be.

Think not about what actual economists have to say. Think not about the very real and noticeable differences between the only real depression the country has been in today. Ask yourself not why, if we were really in a depression, that unemployment remains lower than most of Europe (CT default reply: Numbers have to be made up, of course) or where all the food and soup lines are that apparently must be going on that everyone is missing. If you ask any of these question its means you are falling for the NWO plot, of course. The reality of course is that secretly were all in a depression and - can you guess whose fault it is?

Why, the federal reserve, of course. Don't ask them why - they'll just link to Zeitgeist and other CT youtube videos without explicitly telling you how these lead to the conclusion that the depression is here. And I was hoping for a better punch line:
http://www.abovetopsecret.com/forum/thread453106/pg1

Isn't it interesting how the definition of depression keeps becoming so easy to reach for the CTers until every time the DOW loses 1 point it will be proof of a economic depression?

[malcolmxwarrior]

I swear, you must have been saying everything was fine last spring. Are you still trying to save face?

http://www.lewrockwell.com/schiff/schiff13.html

The crisis has just begun and it looks like you will be defending a banana republic.

[LightinDarkness]

I swear, you must have been saying everything was fine last spring. Are you still trying to save face?

http://www.lewrockwell.com/schiff/schiff13.html

The crisis has just begun and it looks like you will be defending a banana republic.

Ah yes, Peter Schiff, the ultimate doom monger that the CTs worship. Heres the problem - Peter Schiff has demonstrated he has no idea what he is talking about. He has predicted utter doom for the next year EVERY YEAR since the 1990s. Anyone who actually listened to him and put their money where their mouth was lost everything multiple times over.

Indeed, Schiff is a classic study into how much CTs are disconnected from reality. Like the CTs, Schiff has predicted doom and been consistently wrong year after year. But all of this history of being wrong time and again is completely ignored because he happens to predict doom and a recession occurs - mind you, a recession no where near the level of doom he predicted.

But you couldn't be bothered to do the real research on your doom prophet, could you? Because then you would know hes been debunked and shown to be nothing more than a fear monger who never puts his money where his mouth was. All of his firms clients have lost fantastical amounts over the past 20 years because hes wrong, but you would expect that the last year they would have finally made some money - but this too is not true. Schiff's clients AGAIN lost money last year, because the man has no idea what hes doing other than predicting doom 24/7:
http://www.ritholtz.com/blog/2009/01/peter-schiff-was-wrong/

I swear, woos like you have declared the great depression since last spring and
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Its still not here. Its never going to be here.

Just because you want economic doom doesn't mean its going to occur. The only crisis going on is the crisis surrounding your ability to think logically.

[Thunder]

we are not in a Depression. We have not yet had a GDP decrease of 10%. This recession has not lasted 3 years. There is not rapid inflation. People are not disposing of tangible items to survive.