Skip to comments.Another Great Depression? (Thomas Sowell)
Posted on 12/22/2008 9:07:58 PM PST by jazusamo
click here to read article
What was so great about the first one?
I’ve wondered why it’s named the Great Depression because it wasn’t great for those who went through it.
That means Obama is going to need a war to get us out of the next depression, and save his ass.
The Great Depression was not like this one. “Great” means big.
This depression was caused by trying to create a “World Wide” Financial Network. It is world wide, and it is into our food supply, manufacturing and everything that there is.
Greenspan, Bernanke, and Henry Paulson had never done anything like this before, and they did not know what they were doing. If it were up to me, I would try them for treason. They have endangered the USA with their stupidity.
We are headed for a socialist authoritarian state. GWB planted the economic seeds and O will assure that the Constitution exists in name only.
Headed? We are already a socialist state, and the authoritarian is about to be sworn in.
Welcome to the Dark Ages!
You are SO correct...
This one will be wonderful.
(superl.) Long continued; lengthened in duration; prolonged in time; as, a great while; a great interval.
(superl.) More than ordinary in degree; very considerable in degree; as, to use great caution; to be in great pain.
The article said — “Five months after the Smoot-Hawley tariffs, the unemployment rate hit double digits for the first time in the 1930s.”
We don’t have to have anything like Smoot-Hawley tariffs now — because the banking and financial system is doing the same thing that Smoot-Hawley did before. Look for the double digits unemployment to happen in 2009 and the Great Depression to take hold then...
Barack Obama: Re-arranging deck chairs on the Titanic...
“Look for the double digits unemployment to happen in 2009”
I’d be shocked if we don’t see 10%+ unemployment in 2009, particularly in the Northeeast and Midwest. Then, in 2010, inflation will begin it’s assent when all of this phoney money is disseminated into the marketplace by banks being coerced by Washington to lend.
I wonder who’s going to play the parts of Tojo and Yamamoto?
And, people wonder why I cried on Nov 4th.
These government interventions are scaring the heck out of me. I have no doubt if it continues, there will be another great depression. Sadly, a great last line by Dr. Sowell.
Were it so benign as that. It's more like he's ordering full steam ahead and a turn into the direction of the hole in the hull, while ordering all hatches open to facilitate movement of the crew.
Many Americans are just like small children, they have to learn the hard way. Unfortunately, they will be taking us all down with them.
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