. Yesterday, May 23, 2005, when I was reading Paul Krugmanâs column in the New York Times: âAmerica Wants Security,â I did realize that Paul Krugman, an economist that I respect and believe that he will receive the Economic Nobel Prize in the future, was endorsing on his column what I have been saying on my articles about the US economy in the last two years. I have been writing about this subject for a long time, and this is the first time that I saw any economist writing about this subject in recent history, and it feels good to receive the endorsement, regarding what you have been saying, from an outstanding economist such as Mr. Paul Krugman. (Mr. Krugman said on his column that we can compare many of the events today with 1928, right before the beginning of the Great Depression.) I believe that we are living today in a period right prior to the beginning of the next great worldwide depression, and I have posted a number of treads regarding that subject. When Americans elected George W. Bush in November of 2004, that event has sealed their faith â and as a result they are going to experience what feels like to live through a nasty economic depression. During most of 2003, and 2004 I have been saying the following: Around the time of the stock market crash of 1929, people needed very little money to buy stock on margin. Basically they borrowed most of the money to buy their stock. But today people need a lot more up front money to be able to buy stock on margin, and there is less exposure to risk than in the 1920âs. One of the triggers of the stock market collapse of 1929 was margin call on stock purchased on credit, since in the 1920âs a lot of people were buying their stocks on credit with a small amount of upfront cash. Margin calls was a major problem during the stock market crash of 1929. Today, the equivalent to margin calls in 1929 is "Derivatives." The Derivatives global market today, is estimated to be over 125 trillion US dollars. This time around, "Derivatives" will be the trigger to a massive stock market collapse like the one that we had in 1929. I have no doubt that the derivatives market today will become the trigger of a collapse in the stock market similar to what margin calls represented in the stock market collapse of the 1929. Today, we are away overdue for a new stock market crash, and worldwide depression anyway. When we will have: The Big Meltdown? The coming worldwide depression will be triggered by the collapse of the derivatives market, and we are closer than most people realized of a âDerivatives Market Tsunami.â The first article that I wrote describing in detail the coming derivatives problem was published in November 2002 â â The Big American Lieâ â and I also said: âhow to live in a world of illusion.â On February 4, 2005 I did send the following article for publication in various newspapers and magazines from around the world. Eventually these various publications published the article on its original form, or they had to edit it to fit the space available on their specific publication. Here is a copy of the article on its original form: .