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Depression or recession? Let's talk
Location:
9001 Stockdale Highway,
Bakersfield, CA
Is it a Depression? Or a Recession? "The Uncertainty of Our Financial System" will be the topic of a panel discussion at 5:30 p.m. Thursday, Nov. 13 at the Dore Theatre at Cal State Bakersfield. It's hosted by the campus Financial Management Association. A panel of financial professionals, including bank CEOs and financial market experts will take on the topic. Here are some details from the group's flier: "Currently, the United States is a in a state of turmoil, Our Economic System is in a condition of instability, from wealth destruction to national security. The Financial Markets are experiencing enormous amounts of volatility, and credit markets are frozen. With the present interventions of the Federal Reserve and the Treasury, what is America’s next step, and what should you do?" 1 comments from 1 users
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posted by
catpaw
on Nov 3, 2008 at 09:12 AM
Depression or recession depends on who you ask, I'd think. A guy who has just lost his job and been evicted from his home would tell you we're in a depression. So would a single mom with a minimum wage who's buying groceries. (Which makes me wonder: Where would minimum wage earners be now had it not been raised, over the protests of businesses?) A senior who's retirement investment evaporated would probably say recession is an understatement. I don't think there will be many of these victims in the audience as a panel of CEOs and experts intellectualize the crisis and discuss what labels to use.
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