Posted on 08/17/2007 8:18:37 PM PDT by FightThePower!
The Great Depression was perhaps the most overrated financial disaster in history. Sure, unemployment was higher than average and people lost money in the stock market. Still, the vast majority of people were unaffected by the Great Depression.
So, this guy should take some Prozac and go to bed.
What a load of codswallop. No depression will be forthcoming.
Nor will we have any economic setbacks unless major nations elect numbskull socialists who destroy our respective economies. And even then, someone like Hillary can do great damage but America’s supertanker economy will keep rolling along.
Unemployment was also HIGHER in 1940 than when Roosevelt first took office.
I think I would go to Singapore or Hong Kong and maybe Switzerland.
They are expensive.
But in a depression, law and order breaks down and Singapore and Hong Kong and Switzerland take law and order very seriously.
They also have state of the art infrastructure and technology and have some level of English proficiency.
“Sure, unemployment was higher than average”
US unemployment hit 25%, and total economic output in 1937 was lower than 1929.
Since FDR was president from 1933 on wards and the economy didnt fully recover until WWII, we need to blame him for the fact that it was the “Great Depression” and not the “short Depression of 1930-1932”
I think a life on the Pampas is overrated.
This stock market hiccup has revealed a huge amount of raw selfishness and greed. This guy is quite selfish, too. I don't see him noting the conditions of places where it'll cost him 10 cents on the dollar to pay people for their goods and services. Or why it costs 10-1 here.
Why does there need to be all this intervention to bail the greedy few? Let the market correction do just that.
I keep asking my baby boomer friends: who's going to buy their over-priced stocks when they ask their mutual fund managers for a distribution? Not me, thank you. They have no clue.
So what should you be doing about all this? I suggest you really internationalize yourself. I think what you ought to have is your citizenship in one country, your bank account in another country, your investments in a third, and live in a fourth. You’ve got to internationalize yourself.
Rignt now there is a world-wide production glut of epic proportions. If the bottom falls out, most things will get a lot cheaper (TVs, cameras, etc). Cash will be king. If you’ve got $$ in the bank, you’ll be fine. If you’re living on credit, you’re probably in trouble.
Actually, thinking about it, a Depression might wring a lot of crap out of society that has been building up since 1960.
The sky is falling because he can't get polo ponies cheap any more? Sounds like he's trying to convince us to move to Argentina so he can clean up on real estate down there.
Criminals in the streets. Everyone losing everything. It was as though the world had come to an end.
Was the trouble exaggerated or was there an incredible turn around?
On the other hand, the sun has been coming up in full glory for years now. It is time for it to stop.
Children & minorities hardest hit.
Unemployment was at 25%. Around a third of American banks failed. My father lived through the Depression and his impression of how bad it was is decidedly different from yours.
“a Depression might wring a lot of crap out of society that has been building up since 1960.”
A depression is just what we need to straighten out 3 generations that can’t manage money or prioritize within a limited budget.
Nothing else will teach them to not live on credit.
FDR illustrated exactly how socialism works. It spreads the misery of a few to everyone except the elites.
Still, the vast majority of people were unaffected by the Great Depression.
So, this guy should take some Prozac and go to bed.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
You should take something and quit babbling like a damn fool, you have no idea what you are talking about.
BS.
this guy sounds like my tv-moron neighbors.
after 12 hours of tube they are depressed and angry and fearful.
they all say the world is coming to an end.
burp.
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