me too. but back then, there was just a bubble and burst - that's it. real hard on those who were middle aged, lost their savings. but the kids had a fresh start, the future was still there today, we've completely de-industrialized. in the space of 10 years the 'New Economy' that was supposed to replace manufacturing has been outsourced or insourced with massive immigration toxic borrowing to keep it all together just blew up only one thing has succeeded "For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as 'internationalists' and of conspiring with others around the world to build a more integrated global political and economic structure -- one world, if you will. If that's the charge, I stand guilty, and I am proud of it." David Rockefeller
Back in the 1930's alot of people lived on farms or in the country vs today with most living in suburbs or cities. It makes you wonder how things might turn out this time around, if there's a depression. Here's a bit from a woman that lived on a farm during the depression: "I marvel at the way my grandfather managed his farm and took care of so many including all the blacks and whites living on the farm. When money was scarce, all of us lived well and had plenty while so many stood in soup lines in the large cities. We did not have running water, telephones, or electricity. But did have a radio and a newspaper and kept up on what was happening in other places. Most everything we had was created and made from the land. My mother used a can of lye and the grease from the hogs, which would then be boiled in a huge black pot outside, to make the soap to wash clothes and clean with. It was called âlye soap.â The laundry was done with spring water and wash pots. The clothes were always boiled and then scrubbed on a washboard, rinsed and hung out on lines to dry. The economics of life back then during the Great Depression were a lot of work and frugal management of everything we had. My mother used to say when hogs were slaughtered we used everything but the âoinkâ and the last thing that went over the fence was its little curly tail."
The fact that a majority of the respondents to this poll think the economic difficulties will be worse than the Great Depression gives me great hope that we will be out of this sooner rather than later. As with trading, the majority is always wrong (continually enabling the mechanism to transfer wealth from the many to the few), and based on my 4 years on ET, this is especially true amongst the ET crowd.
umm, sorry but a majority would be >50% and right now only 42% responded that economic difficulties will be WORSE than the Great Depression. Fifty-eight percent responded not as bad or undecided.
Picky, picky...ok, the Great Depression expecters only had the largest category of respondents (a plurality, which works in most elections, including for the POTUS). The only optimists in the group (we'll get through and come out stronger) only amount to 16%.
If this crisis becomes a depression as bad as the one in 1930's.............there will be a lot of killing...............probably government collapse. But I dont think things will get that bad.
1) The Extreme Rich can't hide anymore. 2) Politicians are publicly exposed. 3) Huge increase in Weapons sales. 4) Ammunition is purchased before it hits the selves, and prices are still cheap! 5) Information for whatever you're looking for is readily available. 6) Old School Americans won't put up with Political BS very much longer. (You think Muslim Extremist are the only ones to sacrifice their lives, Old Schoolers would take out anyone that threatens their families). There are more armed and warrior type citizens than those in the Government. And they'll all become united in this situation. Also, lots of Government employees (Soldiers, FBI, etc.) will join the MOVEMENT!!! 7) There's plenty of cash out there. Although the Markets came down 40%, and they say that $2 trillion dollars were lost, doesn't mean the money vanished and disappeared from the face of the EARTH. The money and wealth are still there, its just been redistribute and the only way they can make more is through investment: GREED always takes precedence. 8) Those that have sold, have already sold. THose in the Market for the long term will stay. 9) The only agency that will take anymore money from the Markets will be the US Government and the next money taking, I believe, will be from the SHORTS. Therefore, I believe, hang in there for a little while. The Market's downturn was stopped on Nov 21 and now they are stabilizing and maintaining balance with other long term economic factor trends such as M1 and M2. Politicians and the Wealthy know that the Underground Economy and Organized Gangs and Crime Syndicates will flourish in this type of situation. Then the Government IDEAL and those protected by it will now longer RULE. But its those with foresight and understand potential future events which generally SURVIVE. What do you think......
Doomsaying is always fun; it makes the doom & gloomer feel superior, for one thing. But there's a reason periodic crises hit the US or the UK first and hardest: they're also the most dynamic economies on the planet, where citizens can start companies with minimal hassle. The most entrepreneurial economies will, obviously, also be the ones most subject to boom & bust. Notice this map & list, where countries where starting a business is hardest are at the top, and on the map are brown, while those where it's easiest are at the bottom of the list & green on the map. The US, the UK, and their former or current colonies are heavily represented at the bottom of the list and in green; indeed, among the bottom 10, only Romania isn't a current or former colony of the US/UK. One could argue that the US is the largest economy on the planet because it's also the most populous of the countries at the bottom of this list. These places will, over time, do better than the rest, the periodic bust notwithstanding.