“We have had this problem before. The last one happened on October 24, 1929.”
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Yeah, some are noticing similarities to 2008, and I was as well, at first. Now, I’m starting to see scary similarities to 1929. Fortunes, big and small, are going to be lost.
“I’m starting to see scary similarities to 1929.”
I am also but the biggest I see is this fantasy a few people being able to get their money out of the bank is going to support an economy. Those people won’t be able to get things shipped if there’s no gas or trucks and all the dominoes behind that. Cash will be incidental as the stores and businesses won’t have any either to supply products or services as important as for food, clothing, and heat for the home.
And speaking of heat, if our dollar deflates enough with this delusion of printing more paper to cover the same dollar twice, even Russia won’t be able to sell US natural gas and our prices for food, petroleum and other major exports has got to go up. And it will inflate the world into a financial disaster and wars to try to stay in the hunt for living. And again, it isn’t a first.
When the Great War began, the U.S. economy was in recession. But a 44-month economic boom ensued from 1914 to 1918, first as Europeans began purchasing U.S. goods for the war and later as the United States itself joined the battle. And the ‘29 failure wasn’t settled until after WWII. Besides, where are the waring nations going to buy the gas to run the tanks? When you have lemons...
And again, can someone remind me of how much weaponry we’ve sent to the Ukraine? Lemons.
wy69