Therefore it is official, let me the first one to welcome many of you to the 21st century Great Depression. The Great Depression of the 1930s is not the same depression we are seeing the day. In fact the recession we were in was not your every day run of the mill recession according to President Barack Obama. Therefore the solutions to the problems that ail us can’t be your every day run of the mill recession solutions either although they are.
We’re in a depression and we can’t continue to think we can spend ourselves out of this Great Depression. We can’t think for a moment that we can get out of the 21st century Great Depression with the same ideas from the 1930s. President Obama and Congress can learn a lot from FDR and the Congress of the 1930s in the fact that they need to not only spend but they need to find the right mix of social programs that will aid the American people to get back to work.
With Wal-Mart laying off 800 of its corporate employees, it signals to me that we are no longer dealing with a recession but we are dealing with a depression that can get worst if our government doesn’t implement policies that are the right fit. This depression could have been avoided if our Congress had of thought of solutions back last winter but now as the recession deepens; I have to welcome all of you the 21st Century Great Depression.
While I never thought that I would see the likes of McDonald’s, Coca-Cola, and Wal-Mart lay off people because of how well they are doing internationally, it is clear that when Wal-Mart has to lay off some of its corporate executives especially 800 of them, we are in a depression. Regardless if we want to admit it or not, this is no longer a recession and we have to deal with what we are facing. How we deal with depends on how our government offers solutions that bring about job creation as well as stability to housing market and banking industry.
What we are faced with in this 21st century Great Depression is something that no one can put a finger on and that’s why we need to attack in head on. We can’t put any more band-aids on the problem that we are facing and we need to look for some long term permanent solutions that create jobs and prevent jobs from continuously being shipped overseas. This is what we are faced with and this is not going to be fixed over night.
Welcome to the 21st Century Great Depression but hopefully it is not something we have to live through for 10 plus years. We can’t afford to deal with that “Great Depression” for 10 years and think we can spend ourselves out of this situation. We will have to make sacrifices and many of us will have to take more responsibility than usual but the truth is that we all have to play a role in making sure we get out of this 21st Century Great Depression quicker than how we got in.
This is perhaps the great responsibility that many of us has feared but now is the time for us to think wisely about how we will get out of the 21st Century Great Depression. We thought irrationally in getting into this problem now we must think rationally in order to get out of it. We don’t need to rush because it is obvious that hastiness only gets us into deeper issues than our original problems. We can’t just spend ourselves out of these problems and remember spending what we don’t have just means we are putting ourselves more in debt that future generations will inherit this debt that we accumulated.
That’s why this 21st Century Great Depression is a burden that all of us must work to fix. This is a problem that we didn’t get in overnight and it is a problem that we won’t get out any time fast unless we think rationally, carefully and act proactively rather than reactively. We have to look to put in place long term solutions to our woes that are flexible but what we must not do is continue to put in place band-aid short term solutions. This 21st Century Great Depression is greater than what any of us ever expected but it is truly something that all of us has to deal with regardless if we like it or not.
Therefore let me be the first one to welcome you to the 21st Century Great Depression. Nearly 5 million jobs have been lost and more is to come, however we are nation of fighters and our fighting spirit must re-emerge like never before if we are going to get ourselves out of this 21st Century Great Depression.
WELCOME TO THE 21ST CENTURY GREAT DEPRESSION!
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