We Are Not Headed for a Great Depression

reply to post by Ex_MislTech

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The article was orginally published by the wall street journel. It was written by Gary Becker. Mr. Becker, the 1992 Nobel economics laureate, is professor of economics at the University of Chicago and senior fellow at the Hoover Institution. I would say this guy knows a thing or two about economics. I cant stand people who dont read the whole thread. It is only 5 pages. People like you just look for fox news to be mentioned in the post and immediatly disregard the article. If you read the full thread you would already know that the original source wasnt fox news. THis question has now been answered for the fourth time.

Mod Edit: Hold off on the personal attacks. Cheers


[edit on 12-10-2008 by alien]

Greetings......It is sad to see that you are so condesending with those who have a viewpoint that difers from yours.....Having said that I fail to see why so many people hold acadamia in such high esteem....Just because some guy has multiple pieces of paper that attest to his brilience does not make him an authority on any thing other than studying and memorizing the text lessons and passing a test....The truth be told...there are no authorities on the scene and this eco situation we are in is unique and totaly un charted.....

reply to post by theodorej

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I respect peoples view point when it has merit. If they think we are heading for a great depression, I respect that. Heck, they may be right. However, the thing I do not respect is those people who immediatly dismiss something posted because it was posted by foxnews website. I also dont respect people who make comments without reading the whole thread. WHere if you did you would see it was actually from the WSJ. And yes, that someone we are talking about know mores about economics then anyone that is posting on this board. If they choose to not believe him, so be it, it is their right. Of course if I was to post an article about definite doom and gloom and it was linked to an article from fox news we wouldnt be having this conversation. It is only if fox news posts something they disagree with. If they agree with the article, it is fact. I could post an article from fox about a six headed alien baby that was spotted in tennessee and it would recieve hundreds of stars and flags and no one would question the source. They would say "It is from fox, a msm, it must be true." That is what I do not respect. Good Bye.



[edit on 11-10-2008 by tide88]

There are too many ways to make money from the ordinary Joe
to the Illuminati (whichever branch).

Market stagnation sets in and the last time it went down I picked
up some that went back up.

I just happened to sell out of my hedge funds, which did do as well
as a bank and still does I assume, and Microsoft and Intel that I
picked up when they were down the last time.

TV interviewer went out to find local impact of credit crisis and
found a check cashing business. Not too much business lately,
he thinks people got layed off.


ED: Yeah, people are allowed to talk about aliens...
Tesla Free Energy UFOs no.


[edit on 10/11/2008 by TeslaandLyne]

[edit on 10/11/2008 by TeslaandLyne]

reply to post by mattguy404

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Saying this bailout is necessary is akin to telling slaves that the plantation benefits them because it keeps them employed.

reply to post by tide88

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I don't know where you live, but here in the New Orleans area we have a third world economy with New York city prices on everything

so don't trust some economist to make you feel safer, you should worry about who's paying that guy to give everyone false statistics

read more than one source will ya

Maybe reading the G-20 plan for us in this thread
www.abovetopsecret.com...

will help open some eyes

When even they say that


Then it's time to realize we ain't in Kansas anymore Toto

reply to post by tide88

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Greetings.....This forum is about discourse,Iam not seeking anybodies respect or distain for that matter....Fox news is one of many media providers I use to be fully informed....I read the article in WSJ in its entirety and Iam not impressed with any so called expert, whose only credentials offered in liu of hands on experience is pieces of paper attesting to their brilliance......

[
edit to add: One thing I admit this article doesnt talk about is the 11 trillion dollar debt the USA has that it didnt have back then.

So the government 'prints' 11 trillion. Anyone know how much the banks 'printed' that is now gone? Upon that one answer hinges the outcome of either inflation, or deflation. They both 'print' money that did not previously exist, and is not backed. One, the banks, has their printed money evaporate. The other, the government, steps in and THEY print the money. Net balance? Is it inflation, or deflation? Right now, cash is king.

reply to post by Gregarious

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The Banks created the Debt. The Debt is a fictional commodity. Thus the current 'deleveraging' that is making the Debt go away. IF countries do not let it go away then they monetize it by creating money from nothing and in turn make the Debt real. The real solution is to forgive Debt, since it doesn't really exist anyway.

Won't happen though, thanks to the Greed that wrought it in the first place. Governments always choose to monetize Debt. That's why no Fiat currency has ever passed the test of time. Look at all the monetization going from country to country at the moment. One bailout (monetization) after another. Global Hyperinflation will be the Consequence.

CUE STANDARD MOD SPEECH

Hi People,

Yup - you all know the drill by now:

"Attack the post not the poster"

...please hold off on the personal attacks.


Cheers muchly.

I'm sorry, could I explain something? The high inflation we had during the 70s? Only a fraction of that was from the government printing money. Most of that was from the banks counterfeiting money, as much as they could loan out from their greedy little hands. You raise the interest rates, and the amount counterfeited goes down, due to lower demand for loans. You lower the rate, and more is counterfeited/loaned. Banks loan NONE of their money out. It was all previously kept in the vault, and they loaned out up to 9x what they had in the vault. A lawyerly way of complying with the 10% law, while still running a giant scam. The 'profits were about 1200% while paying deposit holders about 3%.
They counterfeited trillions. Now, due to the $700 billion scam, they no longer are restricted from how much they must 'vault', but can counterfeit anything they can loan out, to whoever, no matter what the credit risk, or value. I hope you are not a banker, you would definititely not want the public to understand your longstanding robberies. These gangsters/bankers can bribe politicians thru PACs, but they can't bribe the public, that I am aware of.

reply to post by tide88

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We Are Not Headed for a Great Depression, we are repeating the Weimar Republic. Our solution to the "economic crisis" is to throw money at it. The problem is we are not borrowing the money. We are just printing more of it. This will lead to hyperinflation.

The government will deny the hyperinflation, but we will all pay higher prices for everything. Denying the hyperinflation will allow the government not increase social security payments, military pensions, etc. to keep up with real inflation.

I used to make fun of conspiracy theorists, but now I am paranoid that I am becoming one. I see this "economic crisis" as way for the government to get more control over our lives.

If we don't vote out everyone who voted for the "rescue package", then we deserve the government that we get!

reply to post by CharlesMartel

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100% correct. Same old story, different generation. They'll soon learn the Hard Way, 'Save your hard earned money (not paper) and don't trust loan sharks!'

Edit to add: It will be the Greatest Depression regardless of the mechanism used to get us there. Hyperinflationary Depression is every bit as ugly as Deflationary. A Quadrillion Dollars of Debt as per OTC Derivatives will destroy us. Sad thing is, it doesn't really exist. Until they try to print it, that is.



[edit on 13-10-2008 by HimWhoHathAnEar]

I just read a blog on a financial site, and the Fed is not printing more money, partly to defer the bad press the Fed Chairman was getting. It may happen, it may happen soon. But so far, no government printed inflation. During the Reagan Administration, he was operating on the 'trickle down' theory, and as a direct result, the national debt, a large debt, was paid off. So the Communist splurged on spending us back into debt. Then this Terrorist/Jihad stuff went down, and spending went up. The huge national debt was quickly rectified in the past, and it can be done again, with a drastic change in leadership. And there are none pending. Just a derivatives scam collapsing.

reply to post by micheshi

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Greetings......Interesting point/argument............got me thinking

reply to post by CharlesMartel

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Greetings...........The weirmar republic....