Start of the Next Depression?

In doing some research, I noticed some similarities between the great depression and what is happening now. One of the things that I noticed was that starting in 1928, banks began to fail. Looking at the FDIC records, since 2000 over 411 banks have gone under. Now that is main banks, they are not counting branch offices. Most banks will have four or five branches. So conservatively taking into account three branches per bank, the number of banks that have gone under is over 1,200 in a little over ten years! That's an average of 120 banks per year!

Now add in the DOW and it plunging over 300pts so far today, and you start to see the pattern emerge. As of 1:15 this afternoon, the S&P 500 was down 10%! So what to do? Personally, I am taking my cash out before they can't give it back. Everyone knows the banks are leveraged and the deposits are way outnumbered by loans. get ready for hyper inflation, because the signs are pointing to it. I know a lot of you will bash this and not see the similarities, but they are there. Our debt increase did nothing to help the situation. Employment is nearly flat lined, same as in 1930. Our exports are down, again same as 1930. one can't help but feel the inevitable downfall of our monetary system inching ever closer.

The question remains, are you cashing in before yours is gone?

if you want to save this country END THE FEDERAL RESERVE as long as they exist there is no hope.

as long as people think government is the answer there is no hope and people wake up and say hey government go stand in the corner and let the adults take over there is hope.

from there is the beginnning.

Don't forget that O is following fdr's lead and trying to spend our way out of a depression. Researchers and most economists now agree that fdr's policies extended the depression and were a main reason for the US to be one of the last industrial nations to recover from the depression.

reply to post by haarvik
Stop being silly.

The debt ceiling rise saved us. The summer of recovery saved us. TARP saved us. QE1 saved us. QE2 saved us. Cash for clunkers saved us. Healtcare saved us. The bailouts saved us. Slogans saved us. American Idol saved us. Pro wrestling saved us. Lady Gaga saved us. Weiners Twitter saved us. Romneys hair saved us. Illegal aliens saved us. Killing Osama bin Laden saved us. Bombing Libya saved us. The FDA saved us. The TSA saved us.

I have a slightly different take in that I don't believe anything that happens today in the markets and banks is not pre-arranged and utterly orchestrated. I just feel that this frightening down drop has happened in order to get the public around the world to simply accept, without demonstration, the new stimulation package of quantative easing which will put our great grand children into hock.

I'm also bothered to see the number of banks decline because this means that the banks will simply get eased into fewer and fewer hands giving a very small group an inappropriate amount of power. Still I suppose we can alter our laws to suit ourselves when we do get finally fed up with the power/greed mongering by a few people.

reply to post by beezzer
Now they are discussing QE3 in order to save us.

I dont understand the whole cashing in factor when money has become digital. Even if I wasnt able to extract my money from the bank physically I could still pay my bills with digital currency, and buy whatever I wanted. Or does the digital currency go down when there is no money left in the vault?

reply to post by beezzer


ROFLMAO!!! I forgot about a LOT of those.
Guess I have been sleeping for two years, because when I checked things out a few minutes ago, we were still f***ed!

Originally posted by sonofliberty1776
reply to post by beezzer

 

Now they are discussing QE3 in order to save us.

Oh lord help us!

Originally posted by haarvik
reply to post by beezzer

 

ROFLMAO!!! I forgot about a LOT of those.
Guess I have been sleeping for two years, because when I checked things out a few minutes ago, we were still f***ed!

Why do you think my bunny's crying.

reply to post by thegoods724


That part I don't know about, but I do know that when I need "digital" money, I will simply deposit enough "real" money to cover it. I will keep enough in there so the account remains open, and not a penny more!

Originally posted by thegoods724
I dont understand the whole cashing in factor when money has become digital. Even if I wasnt able to extract my money from the bank physically I could still pay my bills with digital currency, and buy whatever I wanted. Or does the digital currency go down when there is no money left in the vault?

Answering that would be a thread in itself. It has to do with fractional reserve banking, consumer confidence, and the fact that our "currency" has no real "value" in and of itself.

reply to post by sonofliberty1776


This is true, however most people are still enamored by the color green so i can still use the real deal...at least for now!

Originally posted by beezzer

Originally posted by sonofliberty1776
reply to post by beezzer

 

Now they are discussing QE3 in order to save us.

Oh lord help us!

We have "The Messiah" what more do you want??? Doggone tea party members and their unreasonable demands.....

I just woke up and took a look at marketwatch.com and was just wowed

This was the headline article

www.marketwatch.com...

NEW YORK (MarketWatch) — U.S. stocks thudded lower on Thursday, pushing the Standard & Poor’s 500 into correction territory, as Wall Street tore a rapid retreat down a wall of economic worry.

European stocks also fell sharply on worries that Italy or Spain might require help from the European Union.

Just looking at some of the headlines on marketwatch's main page makes me shudder.

[atsimg]http://files.abovetopsecret.com/images/member/bbdc7391d8f6.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/1f0b3bb16ab0.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/5c9396bebd05.jpg[/atsimg]

Also have to add - Isnt the jobs report for last month coming out tomorrow? I have a feeling that could do some more damage if the report isnt good (which I dont think it will be good at all).

Take your cash out, create a run and devalue the money you take out!
You sound like you have a great plan to start a depression.

Originally posted by beezzer
reply to post by haarvik

 

Stop being silly.

The debt ceiling rise saved us. The summer of recovery saved us. TARP saved us. QE1 saved us. QE2 saved us. Cash for clunkers saved us. Healtcare saved us. The bailouts saved us. Slogans saved us. American Idol saved us. Pro wrestling saved us. Lady Gaga saved us. Weiners Twitter saved us. Romneys hair saved us. Illegal aliens saved us. Killing Osama bin Laden saved us. Bombing Libya saved us. The FDA saved us. The TSA saved us.

At least you guys will get what you want, you know what that is...

reply to post by haarvik


I talked my husband into cashing out his 401 in february taking a small hit in taxes. Today he called me and said, thank gawd he got out. Also Im thinking of going to the bank tomorrow and pulling my cash out.
I have been stock piling on the can foods, seeds, medical supplies, ammo. I need just a couple more things and i will feel prepared.

Originally posted by sonofliberty1776
Don't forget that O is following fdr's lead and trying to spend our way out of a depression. Researchers and most economists now agree that fdr's policies extended the depression and were a main reason for the US to be one of the last industrial nations to recover from the depression.

edit on 4-8-2011 by sonofliberty1776 because: (no reason given)

Your right. People forget that FDR's policies led to a second great depression and he only got saved by world war 2 starting up.

reply to post by Janky Red


Yup, an end to the FED and a return to a normal currency instead of an over inflated piece of toilet paper.
Of course all you have to do is look at the market today, and most likely tomorrow and they are doing a bang-up job on their own!