Posted on 08/09/2019 5:11:55 PM PDT by amorphous
Not sure it's what's going to happen now, but pretty sure it contributed to the Great Depression. Many people lost their land and assets to the rich during that period in our history.
The Fed is just another typical government agency. Staffed with people creating the very problems they're supposed to prevent and arrogant enough to not realize it.
Federal Reserve is as much "government" as Federal Express is. Federal Reserve is a private bank.
this article is complete bullshit if they think a minor adjustment by the Fed is going to cause a “Great Depression” ...
To be fair, many rich went broke, too. Some jumped out of indows.
The trade war is BS. A $30B annual tariff is hardy much of an escalation in the ‘war’. What is dangerous is all the misplaced hype about it.
Lefties and coastal import interests are making a mountain out of a molehill to drive down markets and get a Democrat elected in 2020. They’re also going to hurt the economy with the crazy talk for gun control by spurring too many people to divert personal money to firearms again.
We need more production on U.S. soil of basic tools necessities for everyday living, so we should take whatever pain and corrections along the way to get there. We won’t be buying imported items, when we’re personally out of money. And because of the pinch for private sector workers, austerity is coming. And government jobs will be cut. That’s an eventual certainty.
So people politically aligning too much with unneeded import interests had best go with the flow. Big government needs revenues from big production on U.S. soil. Can’t get blood out of balance of payments deficits caused by trade imbalances.
Ever hear of THE DUST BOWL?
Do you know how much the rules have changed regarding how people and/or companies and traders buy & sell stocks came into existence and are still there today, since the CRASH OF '29 and what was done and by whom, to make sure that the crash's aftermath didn't rebound until well after WW II ?
Is the rest of the world in the depths of a GREAT DEPRESSION, as it was in almost all of Europe, after WW I, right now?
Factual history is extremely important to know and obvious, cherry-picking one tiny part ( which in fact had far less to do with the GREAT DEPRESSION than you or the author of this stupid piece appear to know )and then extrapolating it to current times and events just does NOT wash!
And FWIW...the VERY "rich" did NOT escape the Great Depression unscathed nor did they "steal" land and assets from the "poor"!
And Trump and his team are about THE farthest thing to the RIGHT when compared to FDR and his COMMIE advisors and cabinet!
Is the Fed trying to subvert the Trump economy?
Might have contributed but was not central. What locked in the prolonged depression was the French hoarding gold. The lack of availability of gold to back up currencies in the world as the French were hoarding it was what completely froze up any possibility of avoiding the crash and recovering from it. Only after WWII when the French and British sold their gold to the US to finance the war was America able to rule over gold in ways that were fair and not destructive as a tool against other nations as the French had done it perfidiously
China and anti Trump globalists will do everything to sink the economy before election. China dumping the trillion in treasuries seems a likely prospect.
Oh...and worse than the CRASH OF ‘29, was THE CRASH OF ‘87, when the market lost 22.6% of it’s value! And NOTHING compared to ‘29, nor ‘87, nor even the insane one in 2008, has or is happening now and shan’t!
You’re 1/2 right; the “jumping out of windows” is a canard.
Pearl clutching?
Looking for your fainting couch?
Jeez, not this $hit again..
The time when a pig was worth more than cash, since nobody had any cash.
Country Doctors often got paid by barter.
The Creature from Jekyl Island is going to do what Creatures do, Wreak havoc and take over. That is the History of Central Banking.
Maybe it is a bit hyperbolic.
s It's 100%, unalloyd, unadulterated BOVINE EXCREMENT! The entire concept is built on one teensy tiny, almost inconsequential bit...sans any actual, factual, historical knowledge of any kind at all!
No mention of what the Treaty of Versailles did to 1/2 of the European nations, the decimation of the populations of Europe, due to WW I and what THAT did to factories, the leftward movements in thinking in many of those nations, the strikes, and war reparations, and that's just what was going on on the other side of the Atlantic!
And thanks to J.P. Morgan and his compatriots, they could have save the market...but that POS Joe Kennedy and his consortium did corrupt, kind of illegal stuff to keep depressing the markets! And one thing led to another, which kept making things here worse after the Crash!
Then there were the weather conditions!
These historical facts are out there for everyone to know!
I mentioned that some people jumped out of windows. You took it a lot further.
Don’t disagree with your historical facts. But, that wasn’t the main point of my comment. It was that the merely rich suffered in the Great Depression and became poor. Some of those you are talking about .. Morgan and Kennedy... were not the merely rich, but the super-super-rich, who could mold events and benefit from them.
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