Chances for a '30's style depression are nil. Way too many people employed by goverment for that to happen. Worst case scenario is 70's style stagflation, which I lived through. I always get a chuckle out of people that talk about how bad this economy is. Until you have to collect bottles to eat, you don't know what bad is.
Legal immigration from China/India/eastern europe, maybe. Illegal, no. No matter how hot the US 'frying pan' may become, Mexico will always be the 'fire' in comparison.
I have a question-do you guys have any formal education? A lot of you sound like hicks...stocking up on cans... Study something called "loss aversion" and "myopia" goodbye.
I don't know whether to call you names like assclown, try to argue with you, or just hit the ignore button...
That's one reason we're in this "mess". And let's take a quick review of the government employees' competence and productivity: Just look back at 9/11 and all of those security and intelligence analysts working for the government....and all of the FBI personnel involved. Great job guys. How many got fired ? An economy can't sustain itself on people working and not really producing anything of value.
Yeah, government employment... some think it was the government employment that caused the economy to transition from the crash of 29 to the depression of 32-34... and recession of 37. What did Martin Armstrong discover? That all the fed and government interventions accomplished was to raise volatility of the natural cycles... When things crash, food will be the biggest trade going, in Nazi Germany people traded suitcases of the family silver for suitcases of veggies straight across so HEDGE with some food production land, etc... I have a micro farm and in view of the hugely leveraged world we live in, am keeping it.. it's good for the psyche, I don't have to sit around in denial thinking stupid things like "It can't happen here, all those smart people won't let it".. and "People are basically good so I won't need my weapons", and "I have to obsess on the crash, it might happen"... i'm good to go currently and in the worst case scenario. I sleep soundly.... I understand equipment for micro farming too, that stuff could be selling like gold pans in a gold rush... There is one big philosophical question still unanswered: Am I above shooting a food thief and putting him through the wood chipper for fertilizer? Time will tell maybe I saw that video a couple weeks back of the guy losing his life savings while the markets were closed. He was yelling and cursing and losing his mind... the sod only had to have an options position on to protect against that, he had only to HEDGE...
And Tenet running around "with his hair on fire" and calling a special meeting with Condi Rice in the summer of 2001. Concern: Nada. Then she got promoted to Powell's job