'We are on the verge of a great, great depression!'

We will be fine.

A made up system that only a few people understand. It will all work out and the normal person will feel little to no effect.

Keeps us out there buying all that great stuff we need!

Originally posted by anon72
Hmmm, someone needs to tell Obama this news.

Apparently he is too clueless to figure it out himself... surely had he... The Great One would have told us everything we needed to know by now....

Or, this story is bogus and there is no reason to fear as The Great One hasnt' said anything....

Which is it?

I pick the first option.

He already knows....and he and his family are taken care of. Its part of his contract.

Lets not forget that one of the things the made the great Depression what it was is the Dust Bowl. It was the two calamaties combined that caused havok.

Originally posted by nixie_nox
Lets not forget that one of the things the made the great Depression what it was is the Dust Bowl. It was the two calamaties combined that caused havok.

Now we have anthropogenic climate change....

Originally posted by nixie_nox
Lets not forget that one of the things the made the great Depression what it was is the Dust Bowl. It was the two calamaties combined that caused havok.

Yes....pick your calamity from 2011 so far.

I was watching NBC news a little while ago and they were reporting how bad the housing market is. They said worse than last year. Also something scary that was reported: From what I understand, the U.S. only has enough money to pay bills until August.

The looks on these airheads faces is priceless. You can tell everyone of them are ashamed beyond all recognition because they have been ridiculing people saying the same thing as this guy for years, like Peter Schiff and Celente for example. Now, they can't deny it anymore, because it is coming from the big kahuna himself! Do you feel that? It feels damn good to be right doesn't it?

Notice the body language of these folks when he is talking. I would be laughing my ass off if the message wasn't so sobering.

Originally posted by ATC_GOD
We will be fine.

A made up system that only a few people understand. It will all work out and the normal person will feel little to no effect.

Keeps us out there buying all that great stuff we need!

Now who is the "normal" person? My new normal is being pretty poor. Many of my friends and relatives have lost jobs and had to cut out many things. My sister had to cut out her home phone. Her husband who makes decent money has to work 50 hours per week and also sell as a side business.
This is what is happening to the middle class. That is not little to no effect. The middle class is becoming the poor. People run out of gas because they can't afford if. People asking for charity have doubled at least in my area. People no longer go out and buy big screen TVs and frivolous things.
I only wish I could buy all the things that I need. I need to fix my car but can't afford that. Most people can not afford to fix their cars anymore either. I can't afford new clothes or new shoes.
This is already effecting most of the middle class to poor. The only people who are not effected are the people who either do not care,living beyond their means or have enough money not to notice. For heavens sakes a man drowned in california due to budget cuts!

reply to post by The Great Day


Ok well maybe you all need to pick up some history books, and figure out the difference between a tornado for a day or a calamity that lasting a decade that reaped agricultural chaos.
You can start with the wiki article to get the principle.

wiki

The Dust Bowl, or the Dirty Thirties, was a period of severe dust storms causing major ecological and agricultural damage to American and Canadian prairie lands from 1930 to 1936 (in some areas until 1940). The phenomenon was caused by severe drought coupled with decades of extensive farming without crop rotation, fallow fields, cover crops or other techniques to prevent erosion.[1] Deep plowing of the virgin topsoil of the Great Plains had displaced the natural deep-rooted grasses that normally kept the soil in place and trapped moisture even during periods of drought and high winds.

The Dust Bowl on the Great Plains coincided with the Great Depression. Though few plainsmen suffered directly from the 1929 stock market crash, they were too intimately connected to national and world markets to be immune from economic repercussions. The farm recession had begun in the 1920s; after the 1919 Armistice transformed Europe from an importer to an exporter of agricultural products, American farmers again faced their constant nemesis: production so high that prices were pushed downward. Farmers grew more cotton, wheat, and corn, than the market could consume, and prices fell, fell more, and then hit rock bottom by the early 1930s. Cotton, one of the staple crops of the southern plains, for example, sold for 36 cents per pound in 1919, dropped to 18 cents in 1928, then collapsed to a dismal 6 cents per pound in 1931. One irony of the Dust Bowl is that the world could not really buy all of the crops Great Plains farmers produced. Even the severe drought and crop failures of the 1930s had little impact on the flood of farm commodities inundating the world market.

linky

Originally posted by nixie_nox
Lets not forget that one of the things the made the great Depression what it was is the Dust Bowl. It was the two calamaties combined that caused havok.

Mmm that's not actually true by anymeans.

The Dust Bowl was actually a relatively small condensed area in Texas, Oklahoma, a wee bit of New Mexico and Colorado. Most affected lived in Oklahoma. This part of the country is not the most fertile, not the most productive, and not the most important.. when we think dustbowl we think all of the Plains, when in fact it was just a small portion of the plains to the South were it was sparsely populated. Only about a hundred thousand acres were actually effected by the drought.

To put it into perspective, during the 1880's-1930's there were over 20 wild fires in the Western USA that claimed over 200k acres of woodland, which was far more productive and generated far more revenue than farming. Of the 20 wildfires 12 claimed over 500,000 acres. Some claimed 3 million + acres. In 1871 the two worst fires in US history happened on the same day.. the Great Peshtigo Fire and the Great Chicago Fire. The Peshtigo Firee killed over 2,500 and burned 1.2 million acres(approx 1,900 square miles) in Wisconsin. This destroyed hundreds of thousands of grazing land and effected the US dairy industry.

The Great Fire of Chicago on the same day leveled 4 square miles of one of our most productive industrial centers, as well as the largest rail hub in the entire country.

Natural disasters don't bring about Depressions. In fact.. they don't make them worse either.. if anything, the cost to rebuild will spur economic development in other parts of the country. The Dustbowl was made worse by the Depression because when people fled Oklahoma and Texas they went to California where the economy, due to the Depression, was already in shambles. The Dustbowl however did not worsen the Depression.

reply to post by nixie_nox


Maybe you should look at the decade long, and accelerating economic and human destruction of the 21st century, caused by ACT.

You're correct, they're not comparable. This time around it's much, much more dire of a situation.

reply to post by Rockpuck


The Dust Bowl didn't bring about the Depression, it occurred at the same time as the depression. Just because something "bigger" has happened doesn't mean the economic effects are the same.
It was a combination of poor farming practises that brought about the dust bowl, the farming market, and that coinciding with the economic downturn that made the perfect storm to lead to the Great Depression. Neither singlehandedly caused the other, but the combination made a dangerous problem.

There is more detail in the information I added to my last post.

reply to post by unityemissions


Fear mongering aside, though it didn't avoid the Great Recession, there are laws put into place that allow the government to do things like bailouts that were not done before. As much as people like to complain about giving money to the banks, it still may have avoided another depression. If such institutions were in place before the crash, the GD might of never happened.

With the housing bubble the way it is, it is still a risk. The government itself bought most of the bad mortgages at the time and kept people in their homes. The bailouts were conditioned to have the banks do the same. But the banks screwed us over, and didn't do what they were supposed to do. They did the usual and smudged more numbers and didn't get rid of bad debt.

It is time to put tighter laws restricting banks, back again.

Why are insurance companies owning mortgages and so on?

The hallmark of the Great Depression was 25% unemployment. Now I know people like to come on here and make up numbers that we really have 25% unemployment with no backup information whatsoever, but we barely topped ten.

Even if there was 25% unemployment, it still means different things. 25% unemployment during that era meant that 25% of households had absolutely no income whatsoever, leading to poverty. In todays world, both spouses can be breadwinners, so if one parent is unemployed, the other can work. There are welfare programs in place to keep people from starving. So the term "unemployment" means two totally different things between the two time periods. A lot has been put into place to keep people from standing in bread lines.

Things are always end or collapsing. Btw I've heard this about 3.1419265------> times now.

reply to post by nixie_nox


I just don't think you're seeing the forest through the trees.

The banks didn't prevent anything, the global elitists that pwn the corpo-government institutions decided to foreclose on "infinite growth" before the natural systems would have made this a reality any ways.

A very delicate balancing act is being played out, in the game of civilization.

I'm not fearmongering, I'm calling it like I see it.

The hallmark of the Great Depression was 25% unemployment. Now I know people like to come on here and make up numbers that we really have 25% unemployment with no backup information whatsoever, but we barely topped ten.

This is incorrect. Surely, you're not so ignorant as to think that the way we run the numbers today, is even remotely comparable to how they were run back during the GD?!

It's relative to how one accounts the numbers. If the systems are different, there is no direct comparison which is possible.

reply to post by unityemissions


Right, the systems are not comparable. So then you can't use the same statistics to apply to today's economy. The game IS different, with different factors. Then you can't take the same warning signals and assume they are going to lead to a Great Depression, or worse.

Unemployment numbers are run on individuals, in the 1920s, only one individual can be the breadwinner. So 25% unemployment meant that 25% of homes had no income whatsoever. With now more then one person being able to bring in an income, 25% unemployment doesn't mean the same as it did back then.

reply to post by loam


these guys are ffaking us about being 'baffled'..

.they know good and well the nature of generating profits has been forever altered
, and the past need for a large workforce is history...


the banksters, monied elites in all phases of the economic engine are quite satisified in playing the Federal Reserve borrowing game and realizing a 3-4% return on the efforts of a few accountants that swap and trade digital money with the click of a mouse....
why hassle with costly and fickle workers with all the required government red tape, unemployment, compensation and all that spiel.[/i]...its less costly or aggrivating borrowing Fed funds at 0% and investing in the Stock Market, COMEX, or just the US Treasuries at 3 1/2% with no risk...


these corps are hedging ang losses with the cheap CDS bonds they buy in hope of a defaulting Greece, EU, common market or any of those immediate financial problems...

a skeleton crew is all any business needs in the US any more... theres no need for industry...only service workers, life coaches and the like.


get used to it, the 'Paradigm Shift' has already taken place... and most of us are planted on the shore with our feet in the sand..waving Bob-Voyage' to the ship that just sailed !


get on with it fellas