Quote:
Originally Posted by iMind
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.
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So maybe what is being done will not fix it. Economists debate this daily. I did not major in economics when I attended college so I do not have any expertise at all to offer about the economy, so I will let the economists and the pwoers that be debate it. What I do know is in my lifetime the economy has been in flux, sometimes it is better than at other times. I am not a happy camper because, currently I have lost more than 50% of my investments, but I also have been buying stock in which I have had the greatest losses because I think the economy will recover over a period of time and the market will go up to a point exceeding where it was, which was around 14,000.