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Cheers to Our Great Educational System

I am probably not being the nicest person at this moment, but it is necessary. If we discuss the educational system, here is a perfect example of the limited knowledge straight from the top. What am I referring to? It is none other than our brilliant Vice President Joe Biden.
I am unsure if Mr. Biden did not feel like explaining a term, during his speech, or if he just did not know what the definition was. The term was “Depression.” Mr. Bidens’ words to define “Depression” were this,

“What is depression? *pause and half sigh* It is depression…”-Joe Biden

Now, I do not know about you, but I was taught in school that you cannot use a word to define itself. It would have been better for Mr. Biden to explain that he did not have enough time to give the definition rather than use the term to define itself. For the masses, I will give the definition of “Depression.”

Anyone can view the definition in any reference materials( aka thesaurus and etc) and dictionaries. There are multiple definitions of “Depression,” however Mr. Biden was referring to the definition of the word used in political matters; economic depression.I will use the dictionary as well as my own explanation of the term.

Dictionary:

“In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than a recession, which is seen as part of a normal business cycle.

Considered a rare and extreme form of recession, a depression is characterized by its length, and by abnormal increases in unemployment, falls in the availability of credit, shrinking output and investment, numerous bankruptcies, reduced amounts of trade and commerce, as well as highly volatile relative currency value fluctuations, mostly devaluations. Price deflation, financial crisis and bank failures are also common elements of a depression.”-Wikipedia

My explanation:

The deficit, which is the money we owe to the world; the difference between income and expense, plays a huge role in economic depression. The government printing massive amounts of money to pay that debt is what causes inflation. Inflation is what raises the costs of goods and services. This makes your income worth less. Basically, costs go up, values go down, and things fall apart. Try looking at a car that used to cost $10,000 a few years ago. When inflation hits, now that same car today will cost you about $32,000 give or take.

There is your education Ala Jennifer for the day.

ughno

Country Patriots

Jennifer

1 Wikipedia┬«. “Depression (economics).”┬á Wikimedia Foundation, Inc. 15 Oct. 2009.
19 Oct. 2009. < http://en.wikipedia.org/wiki/Economic_depression >.

October 19, 2009 Posted by | Uncategorized | Leave a comment