Posted on 08/17/2024 8:50:01 AM PDT by delta7
The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that began in 1929.
DustBowl 2
For you see, the landscape is entirely different now. America was transitioning from an economy based on agriculture to industrialization. About 40% of the economy was agriculture-based at the time. Outside factors like the Dust Bowl provided those is the agriculture sector with no alternative for work, hence the US experiences unemployment rates around 25% because farmers were out of work.
The economy cannot be properly analyzed from a domestic lens. By 1931, all of Europe defaulted on its debt, and Britain went into a moratorium. Mom and pops who invested in foreign debt were paying high interest in high denominations that the likes of Goldman Sachs were selling at the time. They lost all their money. It was a different time as it was a major transition.
Keynes quote on Invisible Hand
The economic collapse on the horizon will be more reminiscent of the 1970s, when we entered a period of stagflation – inflation rises, but economic growth declines.
The Federal Reserve is in a tough place. Keynesian economics was created at a time when the US had a balanced budget, and the government was not the largest borrower. Emergency rate cuts will do nothing as this is a confidence game. Central banks throughout the world understand that they are helpless. Governments are now the biggest borrower of national debt and in the US we have interest expenditures exceeding $1 trillion. The Fed and central banks in general can do nothing to prevent runaway inflation or curb government spending.
We face difficult times ahead. Japan will perhaps be the first to default before the contagion spreads to Europe.
My aim was to create a system like Socrates that could help people navigate the inevitable ups and downs of the economy. We know what is to come so we can stay prepared. Again, we are not entering a second Great Depression by any means, but dark days are upon us.
The Great Famine, more like.
“For you see, the landscape is entirely different now.”
Fact... No one has backyard Gardens and Chickens to survive on anymore. This time around there won’t even be edible garbage in the garbage cans let alone backyard survival fodder. This is why a lot of cities will not allow food gardens even in your backyard. The intentions and goals are very clear.
The depression level event of 2008 is about to play itself out.
Good luck to all.....
Do Democrap voters understand that if SCAMala win/steals the election and turns the coountry into a 3rd world hellhole, that they will be seen as public enemy #1 by 80 million really pissed off people? I know I ain’t gonna be nice if I’m living in a tent eating banana peels
“The depression level event of 2008 is about to play itself out.
Good luck to all.....”
Oh no... This will be much worse. It will start with the pets and end up being each other. And here is the kicker. PETA played a huge part in what we are getting now, the spotted Owl, the Gopherus Agassizii, the Polar Bear... Ironic that the wild animals and beloved pets will be the first proteins to disappear.
If the economy were to decline at the same ratio as the economy in the thirties, the effects, while pretty serious would not be nearly as bad. 30% off of 100 leaves us much higher than 30̀% off of 20. Yes we will feel the pain but all is relative.
> No one has backyard Gardens and Chickens to survive on anymore. <
And if you did, you’d better have a plan to stop midnight raids on your goods. Because if things get really bad, there will be midnight raids on your goods.
I am stocking up on can goods and dry fruits. But without electricity, how to heat up soup cans?
PETA= People Eating Tasty Animals
The article is wrong we do not have industrial economy we have a service based economy which in a recession is much worse as it is all geared selling of skills vs goods.
Read and verify articles from Armstrong carefully.
Armstrong is a convicted felon who cheated investors out of more than $600 million dollars. He also spent over 11 years in Federal prison for crimes committed related to restitution of the $600 million dollars.
You can eat room temperature soup! It’s not bad.
“But without electricity, how to heat up soup cans?”
I hope you are being sarcastic. :)
“The controlled use of fire was likely an invention of our ancestor Homo erectus during the Early Stone Age (or Lower Paleolithic). The earliest evidence of fire associated with humans comes from Oldowan hominid sites in the Lake Turkana region of Kenya. The site of Koobi Fora contained oxidized patches of earth to a depth of several centimeters, which some scholars interpret as evidence of fire control. The Australopithecine site of Chesowanja in central Kenya (about 1.4 million years old) also contained burned clay clasts in small areas. “
https://www.thoughtco.com/the-discovery-of-fire-169517
:)
“I know I ain’t gonna be nice if I’m living in a tent eating banana peels”
I would stop being nice well before it got to that point.
Much larger and nastier criminal class now, too.
Build a simple rocket stove.
A dozen or so bricks, a BBQ grill grate and twigs to fire it up. Very efficient.
Many videos online
I’m prepared to hold off two divisions of them.
It takes a crook to catch the .gov crooks.
He knows how they think.
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