Quote:
Originally Posted by Sexxxy Sites
Yes, it does seem that history does have a way of repeating itself, and even the ones in power that are attempting to prevent a depression fully admit that they do not know if what they are doing will prevent a depression. We are far from being in a depression (25 % unemployment compared to 7% or less at this point) but who knows, it is certainly possible that another depression may occur before all is said and done. We recovered from the previous depression and I suspect we will again, if one occurs.
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People had actual assets back then man,
There were no credit cards, there weren't 2nd and third mortgages.
People didn't LIVE off their credit.
The dollar was actually worth something in gold.
This will be x2 easy.
Sure we recovered from the first, but how many millions died.. just so washington could sort out the money ..
I'm saying it's "around the corner"... it's not the great depression today.
but it's sure starting to look like the beginnings of one, no?
as for the feds fixing it .. You don't fix a bubble by printing more cash and inflating it more, You deflate the cash, increase interest rates and spend conservatively.
They are printing more money they don't have, inflating the dollar more, and spending more than ever.. please tell me how that fixes it.