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$5 submissions

10-04-2011 07:09 PM

Is the US committing the same mistakes that caused THE GREAT DEPRESSION?

The Great Depression consisted of many crashes. The first crash is what you hear about the most. It's the one that most policy wonks, pundits, and politicians get moist about. However, the events AFTER the first crash SEALED OFF the possibility of a quick reversal (like the Great Crash of 1920 got reversed after a few months). What happened?

The smoot-hawley act. In other words, a TRADE WAR the US engaged in.

Is it doing the same thing with this: http://news.yahoo.com/china-us-curre...090135830.html ?

Learn from history and given the stakes involved, and given the current trends we are looking at at least 3 great recessions. We already had 1 and now we're entering into the second one.

Will the looming CURRENCY WAR cement our economic slump into a GLOBAL DEPRESSION that will last until 2020 and beyond?

:mad::mad::mad:

$5 submissions

10-04-2011 07:20 PM

Quote:

Originally Posted by Jesus H Christ (Post 18469752)

Everyone knows China Corp numbers make Enron look like a relevant fortune 500.

Example: http://www.information-age.com/chann...ng-fraud.thtml

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10-04-2011 07:22 PM

Keep in mind that the proposed law is just that... a bill... a proposed law. But its definitely getting China all rattled. They are bragging that the US better be happy since they let the Yuan appreciate 7%

Wow, China, thanks for that 7%. So kind of you!

Caligari

10-04-2011 08:23 PM

Interesting that Bernanke just said this today-
http://news.yahoo.com/bernanke-warns...214911972.html

Alright, it should have been apparent to many that this was already happening, but with the China situation...

SmokeyTheBear

10-05-2011 01:48 AM

no because the great depression happened a long time ago , so although the mistakes may appear to be the same , it is merely an illusion based on the fact they are identical. Our timeline is much further along and thus couldn't have the same mistakes.

pornguy

10-05-2011 04:40 AM

I think the Issue with China actually needs to happen.

Barry-xlovecam

10-05-2011 05:19 AM

I think a lot of the similarities of the current times to the "Great Depression" are hidden, or better said sheltered, by various social safety-net programs that we have today that were not available in the 1930s ... Unemployment Compensation Insurance, Public Assistance Programs (Welfare), Food Stamps, Medicare and Medicaid. If these programs did not exist we might very likely have soup lines and the widespread suffering like seen during the Great Depression.

That being said, the current economic situation is a bit above the Great Depression's economic demise but said worse that the Regan Recession in 1981-1983.

Most authoritative sources agree that governmental intervention and spending, however sloppy or corrupt, have kept this "Great Recession" from becoming, so far, another "Great Depression."

Our firm and myself are doing well and prospering in spite of the current economic situation. I am thankful that our efforts are fruitful but am fully aware and emphasize with the plight and distress of others not so fortunate.

In light of this situation, I would support reasonable governmental efforts to temper the malaise that many suffer from today.

cherrylula

10-05-2011 05:28 AM

Can we tie it into the terrorism thing somehow? Call it the Terror Depression, or Depression of Terror. or Don't Taze me Depression

Redrob

10-05-2011 06:17 AM

Sooner or later, China and Vietnam are going to get into a war over the oil deposits in the S. China Sea and Vietnam's rising economic competition in the area.

Minte

10-05-2011 07:49 AM

At some point fair trade has to become a reality with China. They have done as much or more damage to the US economy than wall street has.

Service jobs are fine, but the US is already close to the point where if we had to manufacture all the things we want and need it will be difficult. The skills it takes are being lost at a rate that will be very hard to replace.

sperbonzo

10-05-2011 09:10 AM

If you guys are REALLY interested....

http://www.deepcapture.com/

There is a lot to read, but it is VERY VERY interesting...

.

$5 submissions

10-05-2011 12:18 PM

Quote:

Originally Posted by pornguy (Post 18470376)

I think the Issue with China actually needs to happen.

More and more people are thinking along the same lines - China's riding off the recession on the US' back For example: http://www.ft.com/cms/s/0/b1f7be1c-e...#axzz1Zw6gtgXE

Barry-xlovecam

10-05-2011 02:35 PM

Quote:

Originally Posted by Jesus H Christ (Post 18470471)

I absolutely don't support the Fed Reserve "re-capitalizing" banks with our tax dollars ...

Unless the Fed let some big banks fail, confidence in the Capitalistic system can't be restored and it will only get worse.

Quote:

Originally Posted by Barry-xlovecam

In light of this situation, I would support reasonable governmental efforts to temper the ...

I said reasonable. I was a mortgage lender/broker in California years ago and I foresaw the bursting of the mortgage bubble -- to me it was obvious and those involved should have been subject to controlled liquidation.

I would much rather had seen a WPA like project funding or infrastructure improvements like the TVA of the Great Depression era -- there would be both short term constructive work for the unemployed and long term benefits to the nation.

If we are truly a capitalistic society those capitalists that fail get eaten ...

_Richard_

10-05-2011 02:45 PM

Quote:

Originally Posted by Jesus H Christ (Post 18469791)

Or when Beijing had a lunar eclipse at 10:00am in the morning and 3/4 of all the building did not have their lights on. It prompted a private investigation to later find out, they are all empty.

might be where they got the ghost cities idea..

Dcat	10-05-2011 03:13 PM

Quote:

Originally Posted by sperbonzo (Post 18470905)

If you guys are REALLY interested....

http://www.deepcapture.com/

There is a lot to read, but it is VERY VERY interesting...

.

Nice site, great information. ..I'll have to add it to my bookmarks. :thumbsup

$5 submissions

10-05-2011 03:18 PM

Quote:

Originally Posted by Barry-xlovecam (Post 18471622)

If we are truly a capitalistic society those capitalists that fail get eaten ...

This! x 1000000000 That statement sums it all up. Part of the freedom to succeed is the risk of failing. By insuring against failure, the State just makes the whole system all the more inefficient and unstable.

All the bailout mania of 2009 is beginning to reap its harvest now and it will continue to do so until all the excess air let out of the bubble and people's ENTITLEMENT mentality changes

I'm not just talking about social welfare entitlements but business entitlement as well.

Freedom to Fail = Freedom to succeed. Both are linked. Try to crush one while propping up the other and you'll find yourself trying to catch a falling flaming knife. :helpme:helpme:helpme

$5 submissions

10-05-2011 06:53 PM

Schiff: Stimulus failed. Can't get yourself out of a hole by digging deeper.

Great analogy.

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