Are we heading for a 1930 Depression?
 

If we are it will be for the same reasons and the same culprits.

The banks, buying and selling pieces of paper for a lot more than they were worth. Countries were allowed to run up levels of debt they obviously couldn't justify. The citizens of those countries were living on borrowed money they didn't deserve.

The flaws are obvious it's wrong lending a million dollars to someone with a $50,000 income. Someone, some time is going to take a huge hit. This goes for every country with a huge deficit. Including the US.

People lived off the imaginary profit the banks made, in our standard of living, pensions and shares dealing. Countries have lived off the imaginary money, in Government spending. Don't bother to offer a solution, the experts can't think of one, so the GFY economists certainly aren't going to come up with one.

And no Macho cowboys telling us how they're going to buy guns. They'll need to trade them for food, if we have a 30s type depression.

dunno. how was it like living through it. any similarities to now?

You do know government policies CREATED the depression of the 30s, right? (Started with the crash of 1929)

There was a similar dive in 1920 but there was no depression. Here's an interesting video on WHY

Maybe you’ve seen it. Did you pay for it? This evening, if only for a few hours, the industry is doing its best to ignore the explosion of free porn online that has made the early-21st century such a bonanza for masturbators.

It’s difficult. The Adult Entertainment Expo taking place simultaneously at the Sands has scaled back dramatically; Vivid and Adam & Eve, two of the best-known companies in the business, didn’t even have booths on the main floor this year. There are no Jenna Jamesons on this red carpet, and even the idea of a porn A-list seems dated. Performers are making less money, working harder for it, getting fewer jobs.

“It doesn’t affect me that much—well, I guess less work—but my friends with companies are being put out of business,” Ron Jeremy says, pausing before the media gauntlet. He mentions one who has been forced to diversify into “cookies, penis pills, and a blender.”

libertarian mises explanations are crank explanations. :2 cents:

I'm too young to really know Ron Jeremy's legacy, but IMO he's really destroying his name whoring himself out with all this penis pill infomercial shit.

OK I stopped watching after 4 minutes. It was the part where he said that the Government doing nothing is the way to solve the crisis.

The 1930 crash was entirely because the President of the day stood back and did nothing. He thought the market would solve the problems itself. He allowed the banks to collapse and the whole thing came down with a domino effect. Allowing people to buy and sell pieces of paper with no real value is also doing nothing. Markets left to themselves will keep on making money out of thin air if they can. And today they think they can.

When those that lent the money to get us into the crap we're in now, are forced to sell their homes and possessions to repay the debt they created they might not be so cavalier with other peoples money. Governments doing nothing is as bad as Governments doing the wrong thing. Like creating a Euro Zone and allowing countries like Greece, Italy, Spain, Portugal and Eire to borrow way beyond what they could afford. If you create a single currency, you have to have a single Chancellor to manage the currency and borrowing.

The reason the World recovered was Government inspired. If you need to be told what it was, you don't qualify to be in this thread.

Since Paul Markham was alive during the last depression, he would know the signs! We are fucked!

It's possible. It doesn't look like anyone has a real answer to the gobal crisis, and with all the debt and creation fiat currency, I don't see how anyone can fix it.

I bet they didn't think the first depression would happen either.

Central banks are more nimble now, and people are more reactive. That doesn't mean it won't happen; and, it could be worse. The Depression was a once in a century thing, but larger collapses do happen.

Currency is not tied to anything, so it can devalue very quickly. Our society is built on complex exchange systems made possible by a common and liquid currency. If that collapses, distribution collapses, and then....

Comparatively what has happened in the last few years is likely WORSE than the 1930's depression and it's only because "safeguards" were put into place that the whole thing didn't take a total dive already.
A slow disintegration is taking place over a period of years as opposed to a year, but in reality we are in a depression.

However, it's possible to get out of it but major changes in global business and banking laws would have to be enacted and enforced. No more wall street casino etc...

Once again, the illuminati were scientists, philosophers and mathematicians who formed to fight religious oppression. They were progressives of the day. They no longer exist. That is all.

I honestly hope not.

:thumbsup

Also I'll just add, "A new world order" means to establish a new order in the World. "The New World Order" as a group of global elitists running the show is a fairy tale popular with conspiracy nuts desperate to think that World is organized against them.

(I can't believe I finally agree on something Paul said....)

This is exactly what the problem was.

My two good friends are perfect examples. They both had average jobs, her working as a cashier for Costco, him in construction. Combined they made $80k a year. They bought a rather average three bedroom house, and somewhere alone the line they were able to live like kings - three week vacations in Mexico, a $40k truck, a jeep, a new Harley, jet skis, atvs, and a boat. They were living way beyond their means.

The truth is their house nearly doubled in value, allowing them to take out money. They leveraged the perceived value of their house, refinanced, and used the money to buy them nice toys. At a certain point the value of their house dropped, and being as he was in construction he was the first to loose his job. They lost everything, and had to sell off all of their toys at a huge loss just to get by. The only thing they still have is their big truck.

Being that he probably remembers the 1920's like it was yesterday, we should take him seriously. If only there was a magic join link for the economy.

I remember the American War of Independence. I was on the winning side. We got rid of the money pit the USA. :1orglaugh :1orglaugh :1orglaugh

Yup that is the the government taught you, that the government could solve it and the government didnt cause it. A sucker is born every minute. :1orglaugh

Yeah, you got rid of it by losing a major war and an entire resource rich continent, to a bunch of uneducated, poorly armed, poorly trained hillbilly's. Clever move.

:1orglaugh:1orglaugh:1orglaugh

funny thing that whatever the government bails out, they recover. They bailed out the banks, the auto industry.

The only fucking thing the government does not bail out is the consumer. From free trade to higher taxes on the middle class then the rich, the govt tilts the playing field to the corporations.

Hence, infinite stagnation.

In countries where there has been massive immigration you will see people murdering each other for scraps of food. Why do you think millions of 3rd world immigrants have been shipped in? A nation of mexicans, sub saharan Africans, Chinese, whites, arabs, indians, etc etc will go to war with each other instead of lynching the leaders who put them in this mess.

There have been race riots in California schools (blacks vs mexicans) for years. And there is no shortage of black gangs running wild and committing hate crimes against whites.

Watch for more and more media attention that fans the flames of racial hatred. The media made everyone anti-racist in the 90's and now the time has come to make everyone hate each other. Divide and Conquer, bitches!

"Heading?!"

We are squarely in it.

Odd, I must have missed that.

Really odd considering I live in California and my kid goes to school here.

Are you kidding? I don't see shantytowns outside my window and bread lines at the local soup kitchen.

Well the media has historically not exactly wanted to advertise such things but you can find it in local news. But that is changing as demonstrated on Drudge Report because it is time that the flames of racial hatred be flamed so the cattle use up their time, energy, and resources fighting each other instead of their common oppressors.
Let me google that for you:
http://www.google.com/search?sourcei...ool+california

Look harder

Clearly two riots at two school in California in the past ten years is an indication of huge problems. It's not like they are busting out at my local high school.

Oddly enough, one of them is the high school my wife went to.

I always get the info I need to make informed decisions by sourcing Wikipedia :1orglaugh

so which are all the hidden race riots? educate us.

Perhaps replace the word "riot" with "wars" and "gang fights".

you reap what you sow. Too many people focus on blowing money and have to have everything NOW! Most people lost the principles of actually saving money or at the very least saving up money over month(s) and wait till you have it in cash then buy it vs buying it now and worrying about paying for it later. Very few people live with in their means. Even less actually scale back on all the fancy stuff, live modest and invest the extra money they make so it can grow and make them more money so they can actually retire one day and have their assets making them money while they kick back and enjoy live vs working till the day they die and living n1gger rich at best.

It shouldn't be too bad, Paul. I see a lot of your content appears to be from the great depression era and you made it through fine.

My favorite content of yours is from the Louis XIV era.

you know all those words have different meanings right?

not like you can replace "wall" with "sky" and hope people will understand you.