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US economy on verge of 'Great Great Depression'?

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posted on Jun, 2 2011 @ 04:59 PM
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US economy on verge of 'Great Great Depression'?


rt.com

World markets fall after the US economy suffered its worst day of the year on June 1 with all signs pointing to more declines over the summer.

“We've been through a couple-week period here where basically every piece of economic data has just been awful,” John Canally of LPL Financial in Boston told the Daily Mail.

“Interest rates are amazingly low,” he told CNBC. “We’re on the verge of a great, great depression. The [Federal Reserve] knows it.”
(visit the link for the full news article)


Related News Links:
finance.fortune.cnn.com
money.cnn.com




posted on Jun, 2 2011 @ 04:59 PM
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Since I knew that nothing has really changed since bursting of the great bubble in the fall of 2008., I anticipated this - start of the real and unstoppable meltdown (frankly I am amazed that illusion has lasted so well for almost 3 years) but still I am afraid of the future to be sincere...

Maybe I sound melodramatic but I don't see any easy way out of this. The system is completely broken and it cannot be fixed...



rt.com
(visit the link for the full news article)



posted on Jun, 2 2011 @ 05:07 PM
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Originally posted by alomaha


Maybe I sound melodramatic but I don't see any easy way out of this. The system is completely broken and it cannot be fixed...



rt.com
(visit the link for the full news article)


They always have the fix. They break it, intentionally, with the further intention of "fixing" it, to their benefit. And no doubt, we will all "pay" in the end.

Their motto: Ordo ab chao



posted on Jun, 2 2011 @ 05:10 PM
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On the verge of? Where have we been for the last couple years?

I know they dont show it on TV, (that might upset people with money to spend) but people ARE homeless, and going hungry, and living in cars. People cant find work, and feed their families, and keep their homes, and pay their bills.

On the verge of is a weird way to phrase it. Very media inspired. We are in it. And have been. We are in worse trouble now, because the whole US system is on the verge of collapsing thanks to globalism.



posted on Jun, 2 2011 @ 05:45 PM
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We were on the verge under clinton and bush 2. The only reason we are not apparently in another great depression is because the government and the media have done a superb job of propagating the lie that it is only a recession; a double dip recession at that. What a laugh. Even if it were "just" a "great recession", a double dip would have to mean that we came out of it at some point. We never have. Millions of people are homeless. Millions live in their cars. Millions more do not even have a car to live in thanks to leasing. What a dumb idea that was.



posted on Jun, 2 2011 @ 05:52 PM
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reply to post by alomaha
 





US economy on verge of 'Great Great Depression'?


Short answer?

Absolutely



posted on Jun, 2 2011 @ 08:02 PM
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Originally posted by Illusionsaregrander
On the verge of? Where have we been for the last couple years?

I know they dont show it on TV, (that might upset people with money to spend) but people ARE homeless, and going hungry, and living in cars. People cant find work, and feed their families, and keep their homes, and pay their bills.

On the verge of is a weird way to phrase it. Very media inspired. We are in it. And have been. We are in worse trouble now, because the whole US system is on the verge of collapsing thanks to globalism.


Im pretty sure by "in it", he meant feeling the true pain this will bring on.

What your experiencing now is nothing compared to what WILL happen.



posted on Jun, 2 2011 @ 08:07 PM
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reply to post by nightbringr
 


And my point was that just because you or I am not already "in it" and suffering doesnt mean a lot of Americans arent already "in it."

Sure, it can get worse for me, and you, and a lot of us. But its already plenty bad for enough people to flat out call it a depression.

The "worse" is going to take us past "depression" into "economic collapse."

Recession= economy takes a step back. Depression= its a really big step back and it lasts for a long time.

Collapse= our currency is worthless, and our national creditors are banging on the door.



posted on Jun, 2 2011 @ 08:16 PM
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Well if the depression does hit us* we will all know now the same ssytem that robbed us blind and contiues to do s, LIED to us.....oh everythings ok go and spend! dont worry, more bailouts at taxpayers expesen they lied* thats what corporate america since 2000 has done to us all. deregulated so much, so outsourcing was way more desirable, laws were changed so the banks would get our money ayways* via the secratary of treasury.
We the people are just to blame too you know. shuolda taken a day off , when town mayor or sentaor meetings with public were being held, and thrown cabbages, milk, sour milk at them and booed them offstage when 'chnage' aint happening. u gotta stand up n fight for waht yuo wnat in america...people have been given so much in terms of money via programs, theyve gotten lazy* stand up n make yuor voice be heard or hodl yuor peace and suffer the consequences. that is how you let the leaders know NO MORE bring em down too yuor level..



posted on Jun, 2 2011 @ 11:54 PM
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mmmmmmmmmmmm
I being all of 27 or 28 years of age already considered this the depression and the government just wanted to primp it and make it pretty. hence the name RECESSION. which if you look up the word recess it means temporary withdrawal or cessation from the usual work or activity.2.a period of such withdrawal. Or as my 7 year old daughter would say "MOMMY! Why do we call it a recess is mr. obama playing. we only have recess in school!" K. recess- temp withdrawal. nothing temporary bout 2-3 years the flu is temporary.



posted on Jun, 2 2011 @ 11:58 PM
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With all of the Carbon Tax schemes and similar being discussed around the world, I think that will be the new economy once this one collapses.

You will have to work for "Carbon Credits" which you spend on things. These Credits will be to offset your personal "Carbon footprint" on the world so that we can all be "Carbon Neutral". It would be like a tax for doing anything - get transported somewhere? That's damaging the environment so you have to pay back that damage in credits. Play a round of Golf? Well that's using water which costs carbon to maintain so you have to pay that damage back.

So basically, we will have free energy but a convoluted system to still make us pay for it that relies on the guilt of destroying the environment, even though we really won't be destroying the environment anymore due to the renewable energy. People would absolutely lap it up too, even though very little will have changed.

That's my call anyway. There is rumblings in Australia of setting up an agency "Like the Reserve Bank of Australia" (Equivalent to the Federal Reserve in America) to handle the new Carbon Tax revenue.

Disgusting.



posted on Jun, 3 2011 @ 12:13 AM
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reply to post by Cecilofs
 


Yes not many people are happy with a Carbon Tax here in Australia anyway, especially since Gillard got elected on the promise of no Carbon Tax, actually that is a rather good theory you have just by itself. A new system (a horrible one though) that could be even more controlled than the current one.
edit on 3-6-2011 by Dominikas because: Spelling errors



posted on Jun, 3 2011 @ 12:34 AM
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ah the carbon credit scam...the funny thing is, for example, big oil makes alot of crabon i bet.businesses deforesting trees, automakers not allwoing us to have cleaner burning cars...and were responable??? what a lie
i saw documentary on this..apparently this is how carbon crediting works..you buy or invest in it, and kinda like a bank, you get interest* thats my understanding of it, though might be wrong..
why should anyone pay for damage(releasing of carbon) when big oil comapnys are charging an arm n leg at the pump, let alone home heating oil, and is known to let more carbon into the atmosphere than solar power? its all about profits $$$$$ f it wasnt involving $$$$$ they all would care less if we all choked to death form thier by product.



posted on Jun, 3 2011 @ 12:37 AM
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I was depressed
now I'm really really depressed

edit on 3-6-2011 by anumohi because: (no reason given)



posted on Jun, 3 2011 @ 12:44 AM
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Thier counting on you, to be stupid and dumb enough to fall into this trap* boy, todays business is just like it was in 1880-1920's...snake oil. drink the beverage to cure the comon cold * aka coca cola actually WITH coke , the drug, in it. radioactive water and pills promoting prostate health and sexual livitivity...this whole carbon tax things looks so much like the older guy with a crooked mustache on a bandwagon converted into a sdieshow of shorts, pointing his cane at the crowd to step right up pay a fee and be well and cured..but in reality it dosnt work and left you pennyless or near broke*



posted on Jun, 3 2011 @ 01:11 AM
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Thank God I hope it happens. That way other countries will be in an economic boom while the U.S. suffers. Just like the previous Great Depression.



posted on Jun, 3 2011 @ 01:13 AM
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My hunting cabin 400 miles north of Toronto is well stocked with none perishable food, ammunition, tools, seeds, some booze, first aid supplies including anti-biotics and pain meds along with about 6 barrels of diesel fuel for the generator. I have a very good supply of fresh water via a natural spring and a well built cold cellar below ground that keeps items just above freezing all year round. I have a 80 foot amateur radio tower and antenna along with a very good radio that I can keep in contact with people all over the world and locally. I also have 10 massive solar panels configured on the roof that continually charge up to eight 12 volt gel cell marine batteries. I have a large flat field on my 300 acres of land that can be famred quite easily for a wide array of vegtables, potatoes and corn.

I know this actually might sound kind of nuts to some people, but I actually would look forward to a more "traditional" way of life where I am living closer to nature and living in harmony with my surroundings.

Let the bubble break I say, I'm sick of living the rat race.



posted on Jun, 3 2011 @ 01:14 AM
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reply to post by wolveseyes
 


Ever see pictures of poeple and the economy during the great derpession through the 1930's? AT least they had bread lines, and soup kitchens..today its everyone for themselves.



posted on Jun, 3 2011 @ 01:16 AM
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They had no money to buy new cloths barely in the 1930's those affected by the depression. Today, in htis recession at leat you can afford a pack of ew socks or underwear, sneakers, food, xbox games....persoanlly regardless, ide buy local and only of necessity.let yuor money build up for an emergency, rather than waste it on useless mindless stuff. so consider yourself lucky* under the circumstances.



posted on Jun, 3 2011 @ 01:17 AM
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reply to post by ziggy1706
 


I want to get my hands on a new black Fossil watch that is 250 bucks. As well as a new Louis Vuitton long wallet which is 525 bucks. Thats my recession.




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