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We would never see another Great Depression due to Monopoly money and bail outs. So what difference does it make anymore. The risk is always there but it wouldn't be as dire as back then - lessons were learned. Interesting how it looks like that period of time though.
You are wrong on a many levels...........We currently have a currency bubble and when this one goes it will make the great depression look like the roaring twenties.
You mention that we learned our lessons.........I am not sure what to say to that other then you are wrong. We will see hyper inflation in 2014 some time I believe and when it comes it will be epic.
I can actually prove what I am saying look at all the lower paid workers they are screwed. They can not afford to live anymore.
I've been saying that we are due for a correction for a while now. I just don't like to comment on when that will be.
I wanted to add was that the Strauss-Howe Generational Theory (Strauss-Howe Generational Theory. The theory is that we repeat patterns in segments of 20 years, in a total 80 year cycle.
America's current position in the cycle
Howe posits that America is currently in or about to enter a Fourth Turning. The individualism, risk-taking, and conspicuous consumption of the recent Third Turning are winding down, and today’s social mood is marked by new sobriety about unpaid debts at home and unmet challenges abroad. Society is beginning to view the recent Third Turning as a period of drift when public problems were allowed to accumulate
Actually, I believe a new world reserve currency is ready to implement within a matter of two or three days if the market crashes.
reply to post by darkbake
I love your posts even though we don't always agree. But you make me think. (OW! It burns!)
But I'm going to have to dig into this a bit more. I've always thought that there are trends to almost everything.
Gold and the like are only valuable because people say they are; in a market crash I don't see those holdings fairing any better. Likewise you can't eat it, or do anything practical with it in physical form as a normal person - so it doesn't seem like a logical bartering currency.