It’s here! Again, another depression is quickly on its way. Most of you might have all ready been able to see some of its steps. This time they are throughing in high gas prices, and failing airlines. Why not make travel difficult? Look at this.
And don’t try to agrue against this, let time be the thing that determines who is right. However this is just to say if so, I told you so. There is more going on then just that as well. I’ll let you look into it, also check the history of the last great depression.
This great depression will be a hyper-inflationary great depression which is much different than Great Depression I.
The bailout of Fannie Mae and Freddie Mac is at the expense of over taxation and creating more money (inflation). Here these government backed organizations, which tonight’s news called the buyer of last resort for mortgages, created an atmosphere that allowed the banks who sold mortgages to not care if the loans were good by having this buyer there to buy the bad mortgages and repackage them to be sold as though they were good. The smart thing to do now is to not bail anyone out and let the failures happen so the market can correct itself, but instead the government chose to bail out the banking industry and let us suffer the inflation and high taxes, because our government works for the special interests and not the people. Wouldn’t it be nice to run a business where you could make mistakes and get bailed out?
Kill the fed, stop stealing from the people to bail out special interests, and let the free market create the monetary system.
Gilby is right that the 30’s depression, like the not so great 1890’s depression, was caused by deflation of the currency. Production of goods and services expanded at such a rate that there was a shortage of money. Credit dried up once the rich felt they stood a better chance of profit by keeping their money then by lending it. The jobs were lost when the employer started to worry that the price a future product could be sold for, was less then the cost of making it now.
The present situation is quite different, all economists that I am aware of expect dollar inflation in the near term. A rare consensus in an usually divided field.
I don’t see how it is possible to abolish the Fed, because a serious chunk of all the world’s money exists only in electronic form, in the Fed’s computers.
Gilby !, you never did explain your “commodities index non gov money” system. You have so often written that we must replace the Fed with this private system. But you don’t explain or illustrate how transactions would occur.
For now, I think the Fed does a fine job, more or less. It is Congress and the Prez , plus we morons that elected those morons, that is to blame for the 10 T debt the USA faces. And it is the debt, which means taxing people a lot to pay the interest on the debt, instead of giving them services, or a lower tax bill, that is the problem the USA must face going forward.
I’m just gonna be on my own limb here, and say that i personally believe that the market will get better in the next few months. If you can hold your business and job for like 4 months or so, you’ll come out on top. I dont think were going to like go down and crash and burn, were gonna come close in the time until the market gets better, but not like ‘OH MY GOD!! ITS THE DEPRESSION!!!’.
woo… Whatev, thats my own belief, i’m not a politics person…
Can you explain why you believe that?.. or did you just get that off the tv and lack the knowledge to explain your stance?.. Your posts confuse me, dude.
If you read it more than once it might make se-… Okay maybe not.
What i mean is, try and keep your job, conserve, and it will (eventually) get better.
(to make clear in the veggie thread as well, i did not contridict myself though, no matter how it may sound)
I believe that we needed to eat animals to evolve in the past, but i see no reason for it now. If we can evolve to be non dependant on certain things, we have the ability to evolve past eating meat. We dont need to kill things anymore.
I heard once that 30s depression was a world wide event, but the rest of the world recovered faster than the US because the US goverment keep trying to “fix” it. Anybody know if there is any truth to that?
All I think of right now is old, grainy, black and white/sepia video, many people standing in line for food and items, and in the background, me and some friends are doing a trials line.
For those of you with fairly large saving accounts, cds and such, are you planning on withdrawing all/most of it, for fear that your bank(s) will soon collapse? If so, then where would put it, under your pillow, or maybe a fire proof safe in your cement floor?
If your money is FDIC insured, do you feel confident that you will get your money back reasonably soon if your bank does fail? I make it a habit to check on my bank’s assets on a regular basis. They are doing very well, and each year has been better than the last. They have had a record number of deposits and new accounts opened, so it seems people are not lining up to take out their savings…at least not yet!
Seen it before. Not too bad. It takes a lot for something to finally get to me, and ive seen a lot, so, good luck. =p
And Terry, I keep it stacked up on my desk near my printer. It kinda looks funny cause it looks like I print out my money, but that’s just wear i let it stack up before I need to buy something or put it my account so i can order something from online.
Can’t remember all the details, but after the great depression our governemnt set out specific guidelines, regulations and other things of that nature to prevent such a happening to occur again. Like I said I forget all the specifics, but I’m pretty sure that another great depression is out of the question.
A recessionary market is another story, I believe it’s as close to a depression as we can get to these days.
I know it doesn’t sound legit, but it’s da truth. Somone else will explain it better
Oil’s well that ends well! (The price of Oil did just drop so if you had invested the day before, you’d lose on your investment…but not for long probably, as long as you invested enough to cover the drop in the stock)
But serioulsy, there’s no such thing as a sure thing!
