Posted on 08/02/2011 2:40:36 PM PDT by La Enchiladita
I know what you mean Vern! This is just one such article and the search engines are loaded with them. I have researched this and it is factual.
LLS
http://www.naplesnews.com/blogs/depression-economy-real-estate/2010/aug/03/unemployment/
Unemployment Rate Hits 22%
The Second Great Depression?
By Bill Willkomm
(snip)
There can be no valid historical comparison between our current economic crisis and previous recessions unless the comparisons use the same (or similar) baseline information. By using U-3 as the “Headline” unemployment number, thereby removing marginally employed, part-time and nearly seven million long-term unemployed from the government unemployment statics, federal officials are perpetrating a fraud on the American public.
There are private sources that still attempt to compile the true unemployment rate using the historical methodology. One is John Williams of Shadow Government Statistics, who generates numerous statistics using the original methodologies (unemployment, GDP, inflation rate, money supply and others). Currently, starting with the Bureau of Labor Statistics U-6 figures, and adding the categories that were inexplicitly removed in 1994, Shadow Government Statistics has estimated that the actual national unemployment rate is nearly 22%.
During the Great Depression, the highest unemployment rate was 25% during 1933. Currently, using the same formula as used before 1994, the unemployment rate stands at nearly 22%. This is what your government believes you can’t handle.
Folks....get ready for the numbers to be in terms of quadrillions, trillion will be the old billion thanks to the idiots in DC.
You throw in inflation against the pathetic GDP growth figure (which is finagled to present the best possible figure) and you have negative growth ... a depression. The debt ceiling had nothing to do with the stock market plunge, only the depression.
Shoppers have a bunker mentality about inflation crowding out discretionary income, fully warranted yet or not, that is leading us into a self fulfilling spiral. Even trade down discounters like Walmart and dollar stores are seeing “splurges” dry up resulting in slimmer profit margins. And a large percentage of those new customers do have family incomes of more than $60-70,000. Stocks and sales for pawn shop operators, payday lenders and debt collectors are no doubt way up.
Now if we could just open our own factories and make this junk ourselves we could keep all the money right in this country.
About the same time as when a libtard progressive acknowledges that we never came out of the first initial recession...=.=
Which if history is any guide, they will.
Excellent! THANK you!
Gold is good until the Fedgov decides to seize it all.
Which if history is any guide, they will.
1. There ain’t enough gold in private hands to make a bit of difference to the national economy.
2. The political consequences wouldn’t be worth the trouble. Any government motivated enough merely to punish its political detractors would be a terrible police state, and we’d have much more to worry about.
3. Gold owners have learned their lesson, and are holding it where the government can’t get it, and will refuse to turn it in, knowing that a future administration will legalize it.
4. The non-compliance factor will make it not worth the trouble. Those who dare contemplate it will be advised that no one will comply: “You might as well try to take away their guns.”
5. “Confiscation” isn’t and never was. It was redemption for dollars at the current market price. You might get screwed by debasing of the dollars you get in exchange, but not buying gold in the meantime is no protection from this, and loses you the benefits of the gains.
6. Last time gold was confiscated the dollar was on the gold standard, meaning that gold in private hands prevented the government from monkeying with the dollar. Now they can (and do) monkey all they want for their own political ends, and don’t need to confiscate gold to do it.
7. Silver. ‘Nuff said.
Let me know where you think I’m wrong. I’d be happy to refine my views.
You are most welcome my FRiend.
LLS
A few minor rebuttals.
#2. It is becoming very clear the political class has very little concern over what we think. The TARP bills were opposed by over 80% of the public, and they passed anyway. With the new “super congress” the potential for voter feed back is non existent.
3. You can only hide your gold till you have to spend it. Then it attracts all sorts of unwelcome attention. Read about Argentina, and how the gold bugs got surprised at first. The best thing is to hold gold in small packets like jewelry. Easier to move, and doesn't cause the vultures to swarm as bad.
4. People turned the gold in last time, when we were a much more free society than we are now. Most will turn in their guns also. No on wants to have their family and pets killed making a stand. The State has ulimited firepower at its disposal, and is using that to collect student loans at times. How hard will they push for gold and or guns when the time comes?
Good response.
TARP passed because both sides believed it “necessary” to avoid a serious financial disaster (most citizens disagreed). The leaders will not be able to convince themselves that a hard-fought battle with the people to take their gold will actually bring meaningful financial benefits.
Granted, “confiscation” may occur, but enforcement will be limited to cleaning out the ETFs and shutting down the retailers. Going farther than that would cost more financially than it yields, and would cost far more politically, with the trail of bodies.
True regarding being unable to spend your gold. Black markets are filled with snitches. Owning gold would be like an IRA, except that you can’t cash it out for an uncertain time, maybe not in your lifetime.
I disagree that people turning in their gold back then was in spite of them being more free. The issue was that they were more trusting of government than gold and gun owners are today.
Moreover, I’m doubtful that enforcement in 1933 extended to those who really wanted to keep their gold as a hedge against inflation or government mismanagement of the economy. Frankly, I doubt there were many of these types.
Another distinction between then and now is that we have alternative media, which will trigger a flood of political objections should the confiscation idea be floated.
An important distinction between gold and guns is that maybe half of guns are linked to their owners in a Federal database, while there is no database of private gold owners. And while a federal investigation of retailers might yield info, that would also trigger said political firestorm, not to mention retailers destroying records to protect their customers.
But I’ll reiterate the most important point. If history repeated, government would be paying market price for the gold.
For that matter, there isn’t enough gold to deliver to all those who have “bought” gold.
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