
It's a depression - timr
http://seattlepi.nwsource.com/opinion/389882_helenonline29.html
======
yummyfajitas
It's a media frenzy.

We are not even in a recession yet. So far, we've had one quarter of economic
decline (3rd quarter 2008).

[http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease....](http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm)

A little perspective, please.

~~~
Elepsis
For a little bit of background, here's a brief biography of the author, from
Wikipedia:

"Helen Thomas (born August 4, 1920) is an American news service reporter, a
Hearst Newspapers columnist, and member of the White House Press Corps. She
served for fifty-seven years as a correspondent and, later, White House bureau
chief for United Press International (UPI). Thomas has covered every president
since John F. Kennedy. She was the first female officer of the National Press
Club, the first female member and president of the White House Correspondents
Association, and the first female member of the Gridiron Club. She has written
four books; her latest is Watchdogs of Democracy?: The Waning Washington Press
Corps and How It Has Failed the Public."
(<http://en.wikipedia.org/wiki/Helen_Thomas>)

Not that I necessarily agree with her, but I would hardly peg Helen Thomas as
the "media frenzy" type.

~~~
yummyfajitas
Who is the media frenzy type, if not reporters?

~~~
wensing
You shouldn't lump all reporters together. I work at a daily metro newspaper
and folks there tend to look at the talking heads on TV as more of the media
frenzy types, particularly the 24 hr news channels that need to fill 24 hrs
every day with something that will pass as news.

~~~
fauigerzigerk
Whilst newspapers, on some days, have a 10pt message on an otherwise blank
front page stating "nothing to report today" :-)

~~~
wensing
Fair enough, but print newspapers have a much longer publishing cycle (which
is only getting longer).

------
tvchurch
We're at less than 7% unemployment. People aren't going hungry. Technically
not a recession, but it will be soon. Depression? Absolutely not.

~~~
gscott
The unemployment data that is put out is artificially rosey.
<http://moneycentral.msn.com/content/P146055.asp>

~~~
yummyfajitas
Your source is not very convincing.

He discovered that non-standard definitions of unemployment disagree with the
standard one (U3). Yes, unemployment is 8.4% if you include people who "would
like to work" but haven't actually looked for a job (U6). His super secret
definition of unemployment might even give a 12% unemployment rate. So what?

------
ericb
Maybe in the clinical psychiatric sense, but I think there's a real definition
behind the term that we have not met.

[http://economics.about.com/cs/businesscycles/a/depressions_2...](http://economics.about.com/cs/businesscycles/a/depressions_2.htm)

------
sabat
Has anyone told Helen about the wonders of Prozac?

