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This article is the classic "writer trying to gain attention through shock value" journalism. It's amateur at best, and more specifically, it's utter B.S. Don't worry folks, there is no "depression" coming. And if anything, it's articles like this one that are fueling the current fears of a "recession." Recessions and depressions are not caused by mysterious, "evil financial forces." They're caused simply by fear. For example, if I'm a major investor in stocks and the media tells me a recession is coming, I sell my stocks. Once me and several others start dumpig stocks, then everyone else follows like lemmings and dumps their stocks. This causes a downward spiral, fueled by fear, fueled by the media. Once stock markets go down, employers start tightening their belts and laying people off. People who are laid off then have less purchasing power. And the companies that laid them off in the first place, then have fewer customers. More layoffs, less buyers, more layoffs, it keeps going down. Recessions are caused by "each man trying to save himself," which causes us all to lose.
If the media told us today that the "recession is over," I guarantee it would actually be over. It's a self-fulfilling profecy. People would think, "Oh gee, now I can afford to buy stuff again," causing sellers to reap profits again, causing them to hire more employees. See the trend? Same would happen in the stock markets.
Folks, we are like lemmings. And we will all run and jump off whatever cliff the media tells us to. So if we are in a recession, we have no one to blame but ourselves. Oh yes, and a bunch of attention-seeking journalists.
