May 24, 2012 Jeff Jacoby: The peace process battered Israel's reputation Near-nuclear nation threatens to walk out of summit unless it gets its way Clifford D. May: What Iran's Rulers Want Michael Muskal: 'Pro-choice' position hits record low, according to poll Chris Farrell: Are We in a Tech Bubble? Kimberly Lankford: Switching Medicare Advantage Plans Mid-Year Bryan McIver, M.B., Ch.B., Ph.D.: Mayo Clinic Medical Edge: Understanding hyperthyroidism and its variety of treatment options French rights groups want Google to stop suggesting 'Jew' Two-fly rule for Beijing toilets The Kosher Gourmet by Penelope Wall: PHILLY CHEESE STEAKS --- hold the steak! May 23, 2012 Ex-CIA spy in Iran's Revolutionary Guard: Baghdad talks highlight Western naivete Putin's latest defiance shows Obama's whisper didn't work Tony Pugh: More private colleges offering tuition discounts Lisa Gerstner: 4 Money-Etiquette Questions Answered Mary Beth Franklin: How to Choose the Right Annuity for You Art Markman, Ph.D.: Get smart: How to bulk up your creativity muscles Israeli scientists use skin cells to help repair heart muscle Tina Susman: The wig wasn't enough: Man gets 13 years for posing as his dead mom The Kosher Gourmet by Emma Christensen:A simple way to do fish right May 22, 2012 David S. Cloud and Kathleen Hennessey: Obama changes mind on Pakistan invite to NATO summit --- and then gets dissed by country's president US Senate approves new sanctions against Iran ahead of Baghdad talks Warren Richey: Can US group challenge overseas surveillance act? Supreme Court to decide Supreme Court: Twins can't claim dead dad's benefits Thomas M. Anderson: Walking Away From a Mortgage Environmental Nutrition editors: The lowdown on a low-acid diet Pomegranate juice maker used deceptive ads, FTC judge rules Relatives outraged over spoof on Hamas chief's killing The Kosher Gourmet by Megan Gordon: Enjoy a celebration of the most rich and layered flavors: Black bean, sweet potato and quinoa chili May 21, 2012 Mark Clayton: Cybersecurity: How US utilities passed up chance to protect their networks Howard LaFranchi: NATO summit: Who will foot the bill for long-term Afghanistan security? Chris Farrell : Earn Dividends in Emerging Markets with This WisdomTree ETF James K. Glassman: 5 Stock Picks Among Online Retailers Stephen Whiteside, Ph.D. : Mayo Clinic Medical Edge: Social anxiety disorder --- or just shy? 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The Kosher Gourmet by Faith Duran : Cheesy Potato Breakfast Casserole with Cheddar and Sun-Dried Tomatoes May 16, 2012 Jackson Holahan: The Aleppo Codex Jonathan Tobin : Iran Declares Victory in Nuclear Talks Kiplinger Reports, Summarized Anne Kates Smith: 7 Stocks That Let You Sleep Tight Carmen Terzic, M.D., Ph.D. : Mayo Clinic Medical Edge: A variety of exercises can help improve balance Melissa Healy: National strategy on Alzheimer's disease aims to halt it by 2025 The Kosher Gourmet by Joyce White : GOODNESS GRACIOUS: GREENS! 4 winning recipes that are no longer just for down-home folks (Includes expert tips & techniques) May 15, 2012 Dennis Prager: God and Man at (and for) Liberty Kristen Chick: Obama administration resumes arms sales to Bahrain despite serious unresolved human rights issues. Activists feel abandoned Pat Mertz Esswein: Homes are now affordable again and mortgage rates are low. What you need to know before you buy Kathy Kristof: Our Practical Investor Fights Inflation with These 6 Investments Sue Hubbard, M.D.: The Kid's Doctor: Lactose intolerant young child? Check again Environmental Nutrition Editors: Get the facts on palm sugar sweetening The Kosher Gourmet by Kathy Hunt: Spread a Little Excitement with EXOTIC CONDIMENTS (4 RECIPES) May 14, 2012 Richard Simon: Purple Hearts for domestic terror victims? Nando Pelusi, Ph.D.: The privacy paradox: Surrounded by strangers, we risk isolation, anxiety Chris Farrell: Investing Lessons from the Great Recession Lisa Gerstner: How to Protect Your Identity, Finances If You Lose Your Phone Harvard Health Letters: Heart disease and dementia Tiffany O'Callaghan: New hormone mimics effects of exercise without the sweat The Kosher Gourmet by Megan Gordon: MANGO COCONUT OAT MORNING MUFFINS are a bright but hearty delight May 11, 2012 Rabbi B. 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Jewish World Review How an economic depression works By Marshall Brain http://www.JewishWorldReview.com | (MCT) Recently you have probably heard an ominous sentence that goes something like this, "The United States may be on the verge of another Great Depression." You may have heard it more than once, because a number of people have been throwing this idea around lately. It is a sentence that strikes fear in the heart of any American. Even though few who actually lived through the Great Depression of the 1930s are still alive today, we have heard so many stories and seen so many photographs that we understand the pain that the Great Depression brought. We know that we don't want to experience anything like that again. But what exactly is an economic depression? And what makes a depression so painful? One way to understand a depression is to look at its opposite. What is a "good" economy? When the U.S. economy is behaving normally, one thing we see is an expanding job market. The number of jobs in the economy is growing. This means that unemployment is low. When someone needs a job, or wants to change jobs, an expanding job market makes it easy to find employment. In a good economy, that expanding pool of jobs combines with increasing wages. Over time, people are making more money for what they do. In addition, inflation is low, so the increasing wages are able to outpace inflation and provide a rising standard of living for everyone. The rising standard of living and a growing population translates into a growing economy. People are able to start new businesses, and existing businesses are able to sell more stuff. The stock market reflects this growth by rising. A tool called the GDP, or Gross Domestic Product, measures the size of the economy. If you add up all the money that people, businesses and governments spend on products (like food, clothing, cars and paper) and services (like hospital care, dry cleaning, car insurance, and package delivery), you have the GDP for the country. In a good economy, the GDP is growing at a healthy clip. Three to 4 percent GDP growth per year (after inflation) would be considered a good average for the United States. So, when jobs are expanding, wages are increasing, inflation is low and the economy as a whole is growing at a nice clip, times are good. People are happy with the economy. A depression is the exact opposite of this rosy picture. For example, in the Great Depression jobs were scarce. The unemployment rate went as high as 25 percent during the worst of the crisis, compared with the 5 percent unemployment figure that we see today. Instead of growing, wages fall in a depression. So the people who still have jobs are making less money as time goes by. Because fewer people have jobs, and those who do have jobs are making less money, people have less money to spend. This means that businesses have to close or scale back. Banks also fail and close, meaning that loans dry up (nearly half of the banks closed during the Great Depression). And that means the GDP is shrinking rather than growing. GDP growth turns negative in a depression. The stock market reflects all of this economic discord and plummets. The effect of high unemployment and lower wages is where the real pain of a depression comes from. Without jobs, people can't make their house payments or their car payments. So they lose their homes and cars. Eventually, for a large segment of the population, there isn't enough money for essentials like food and clothing. In the Great Depression, this led to soup lines in cities and shanty towns in rural areas. It was an economic disaster that lasted for about a decade, although actual negative GDP growth only took place in five of those 10 years. Several government programs in the 1930s worked toward ending the Great Depression. They included the Works Progress Administration, or WPA, which provided millions of government-backed jobs, the start of Social Security, which helped provide income to the elderly, and the creation of the National Labor Relations Board, which helped increase wages for workers. But it was the massive war-time spending during World War II that finally finished the Great Depression. Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. Comment by clicking here. Previously: How the liver works How 3D movies work How oil pipelines work How jet packs work How seismographs work How Olympic technology works How Personal Rapid Transit works How 3G works How the Global Position System (GPS) works How octane works How cruise missiles work How submarines work How miles work How octane works How food preservation works How beer works How holding your breath works How smoke detectors work How heat pumps work How your night vision works How concentrating solar collectors work How your key fob works How the common cold works How the Large Hadron Collider Works How making a TV show works How dry cleaning works How exoskeletons work How an oil refinery works How landfills work How the Orion spacecraft works The cutting edge in HDTV Redefining the CD How the HDMI cable scam works How glow-in-the-dark toys work How the subprime mortgage crisis works How gift cards work How Tasers work How giant TV screens work How foreclosure works How Air Force One works How wildfire fighting works How vitamins work How ejection seats work How reattaching limbs works How hot air balloons work How paparazzi work How counterfeiting works How CDs work How the Edsel worked How Stinger missiles work How hybrid cars work How sharks work How mosquitoes work How diesel engines work How water towers work How the Dawn mission works How Kassam rockets work How the North American Eagle works Why aren't we flying to work? How tofu and soy milk work How Colony Collapse Disorder works How airbags work How the U.S. income tax works How gum works How caffeine works How Daylight Saving Time works How a cruise missile works How snow making works © 2007, How Stuff Works Inc. Distributed by McClatchy-Tribune Information Services.

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