Entering the Greatest Depression

Discussion in 'Economics' started by spades434, Aug 9, 2009.

  1. http://www.lewrockwell.com/orig10/marshall1.1.1.html

    "The BIS has said, in softened language, that the stimulus packages are ultimately going to cause more damage than they prevented, simply delaying the inevitable and making the inevitable that much worse. Given the previous BIS warnings of a Great Depression, the stimulus packages around the world have simply delayed the coming depression, and by adding significant numbers to the massive debt bubbles of the world’s nations, will ultimately make the depression worse than had governments not injected massive amounts of money into the economy.

    After the last Great Depression, Keynesian economists emerged victorious in proposing that a nation must spend its way out of crisis. This time around, they will be proven wrong. The world is a very different place now. Loose credit, easy spending and massive debt is what has led the world to the current economic crisis, spending is not the way out. The world has been functioning on a debt based global economy. This debt based monetary system, controlled and operated by the global central banking system, of which the apex is the Bank for International Settlements, is unsustainable. This is the real bubble, the debt bubble. When it bursts, and it will burst, the world will enter into the Greatest Depression in world history."

    I think Mr. Marshall does a good job of providing a thorough explanation of what we may be in for. As a trader, whether the markets go up or down is irrelevant. You simply trade the chart in front of you. But as a US citizen, it's scary when you see repeated references to a coming Great Depression, especially when you realize just how fraudulent the financial activity in this country has become.
  2. ""the stimulus packages are ultimately going to cause more damage than they prevented, simply delaying the inevitable and making the inevitable that much worse. ""

    I've been thinking this for months now....now I believe it.
    Not that it does me any good.....
  3. Don't underestimate the ability of the world's governments to engineer a way to delay this "inevitable" occurrence, or even avert it.
  4. Avert? Don't see how, but I'm not the sharpest tool in the shed.
    Delay? Yea, but what happens when we fall into the abyss?
  5. We may eventually get a depression, but it's not like nobody else has been predicting it. Fact is, if the dooms-dayers don't make it selling books, they all have gone historically out of business. This crash and burn forecasting has been going on since at least early 1970's, maybe longer.

    My definition of modern economic depression is that government eradicates almost all motive for capitalist success. That can come from war, or can come from higher taxes and regulation. Bottom line, massive confiscation of wealth is required. Then the depression will begin.

    At this point, predicting depression has been like hitting a 90mph knuckleball.
    Hasn't yet been done. But that doesn't mean nobody can do it.
  6. The LAST DEPRESSION featured a physical STARVATION.

    If you do not believe me, Google Walker Evans.

    If there is a coming Depression, then I GUARANTEE the poor will be FAT, TATTOOED, AND SMILING.

    The starvation don't you see in this Post-Modern World is SPIRITUAL.