Posted on 03/04/2009 8:43:33 AM PST by DecoyJames
http://www.politicallore.com/writers/alexander-nobles/is-this-the-second-great-depression/568
Video included
Jim Rogers recently stated “The U.S. Is in serious trouble. The people in Washington have no clue what is going on. For two years this has been brewing and for two years they have been making mistakes. So, the U.S. Is going to have it’s worse economic time probably since the 1930s.”…
(Excerpt) Read more at politicallore.com ...
Is this going to a lot worse?
Obama, can no longer claim any fault!
I’m already depressed.
It is the:
GREAT OBAMA DEPRESSION.
And no it’s not Bush’s Fault, lefties.
Yeah I Think we all are...
but the real question, are you depressed more now than you were in the 1930’s?
the dems and the media have talked down the economy for the past 8 years, they got what they wished for
They Liberals live in some world where evil does not exist, so they decide to cram their views down our throats by not showing us the true world.
the extremists aren’t even human, they are animals, they way they kill, their fighting tactics, its just disgusting. If the people really got to see what they were like I would think many people would be pissed at Obama.
My bad wrong topic. XO
Supporting failed companies with bailouts instead of allowing them to fail. We might have already have cleared out of this mess..
From a chicken in every pot
to
America’s chickennnns have come home to rooooost.
Don’t believe this drivel. The radical left know exactly what is going on. These are the people behind the financial meltdown. It is deliberate and meticulously planned. WHY? Because happy, prosperous, profitable people/businesses do not make good targets for a Marxist takeover. Panic, stress, bankruptcy, unemployment, hopelessness...these are all prerequisites for the advent of a thug dictatorship.
Let's see, when did Obama take office? Anyone who has studied the current situation honestly knows that this has been decades in the making, and neither party did diddly squat about it. They helped it along. Greenspan was the great oracle. Print money, lower rates, print more money.
GWB sent out "stimulus" checks, thus putting his stamp of approval on the dubious notion that gubmint can save our economy by borrowing money to send to us so we can spend it. He passed tax cuts based on Keynesian arguments.
No, it's not Bush's fault. But GWB was no less a participant than anyone else. And it was GWB's handling of the Lehman collapse, many say, that triggered the panic.
This is about a ponzi economy based on fake money, and the chickens are coming home to roost. Obama is not helping things, but in my view, he's just picking the scab. This was coming either way. In a way Obama's election is a sign of the times. He's not the cause. He's a symptom. The cause is the abject ignorance of the American public. Petty, spoiled rotten, with no clue about the realities of life. Well, folks, here comes your lesson.
Speaking of the economy.
Have you bought any products marked “MADE IN AMERICA” lately?
Well, maybe after this economic collapse, the US will back the dollar with something of value, gold or silver.
I don’t see people selling apples in the streets or stuffing cardboard in their shoes or stealing picket fences for firewood. I see flat screen TVs in slums and idiot people calling 911 because their favorite food joint is out of chicken. I would not say that we are equal to the ‘30’s at all.
They'll never let that go.
Just like they continue to blame Hoover's alleged 'laissez-faire' policies for the (first) Great Depression - it was actually his interference in the market (eg. Smoot-Hawley) that made a bad situation worse, and FDR doubled down on those bad policies.
Funny, the 'Rats have called the Bush economy the 'worst economy since the Great Depression' since he first set foot in the White House, even when the Dow hit 14K. Self-fulfilling prophecy, anyone?
Not yet. We’ve only lost what, 53% of the DOW value? We lost over 80% in the GD, but we’re lower than at any time in history since then.
Yeah, but how we gonna get any gold and silver when we’re bankrupt? Meanwhile, FDIC is going belly up. I’ve got my cash in a small local bank, but I’m wondering if the mattress truly is the safest place at this point. Crazy times. But hey, at least it isn’t boring :-)
Can’t speak to gold, but the Comstock Lode is the largest vein of silver ever discovered. Plenty left too.
Mmmmmm. My best guess is that it’s going to be protracted and deep and whether it meets the text book definition of a Depression, well, I think it’s too early to say. The rub is that we would have to see something on the order of greater than 20% unemployment to meet the Depression model/definition. If memory serves me correctly, at the hight of the GD of the 1930’s, unemployment hit 24%. One of the problems with understanding this is that we’ve already got 40% who pay no taxes meaining they are only marginally employed to begin with and they survive off the gov’t teat. We have a much bigger safety net today than we did in 1929.
I compare this event more to the British experience after WWII. They experienced what could only be termed a series of lost decades in a prolonged recession they didn’t crawl out of until they devalued the pound and got Margaret Thatcher. During that time, the empire was abandonned, their military bases around the world were closed, etc. That’s pretty much what I expect to see to the U.S. in this event.
The market will go lower; there will be a series of sucker rallies, today possibly being the start of one. The bond bubble, which is just as dangerous as the Real Estate/Stock bubble has yet to burst and the second shoe has started to drop, i.e., the bust in Commercial Real Estate as noted on CNBC this a.m. The bond bubble will start to unravel when we hit the hyper inflation/dollar devaluation stage and the Fed has nowhere but up to go with interest rates.
This economy has a lot more contracting to do.
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