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Originally posted by haarvik
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?
Originally posted by TheRemedial
reply to post by usernameconspiracy
You need to factor in how many people going to see those shows live paycheck to paycheck or are in debt up to their eyeballs. Most of those people you see live day to day and have absolutely no "plan" for the future or worse case scenario. Common trend for the people of this day and age.
You see, things are fine, while they have checks coming in...Point being with the way money is moving right now and the state of the world market let alone US debt issues. Those same people will not be attending events much longer. QE1 and QE2 probably in a round about way made it possible for many of those people to keep spending money on things they OUGHT NOT TO HAVE.
This dip is going to be the real raking. Mark my words, the age of instant gratification will come to a stop sooner then later now.