Discussion in 'Economics' started by turkeyneck, Oct 9, 2008.
The Washington Three Stooges
With all these dire prognosticators I wonder if the volatility we are seeing in the markets hasn't scrambled some people's brains!
can you believe this shit is hitting the fan so fast? jeepers I need a vacation from this week!
Most people in manufacturing, engineering, science, or any of those 'forgotten' professions would tell you that we've been in a depression for most of this decade.
Seriously, how can an economy lose so much of its industrial base and not be in a depression?
If you measure the US dollar, or the US stock markets against any form of constant money, ie: gold, oil, etc. -- investors have lost 80% of their assets since the peak in 2000. If gold takes a bit of a spike here, that number could easily approach 90%, even if the Dow remains at 9-10k.
Remember -- money was backed by gold during the Great Depression. Comparisons between today, and the Great Depression should therefore be made in gold, not in US dollars.
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