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Discussion Starter #1
There are several prominent economists who are raising a lot of red flags about the similarities between the recent financial crisis and the events leading up to the Great Depression.

Some but not many are getting face time on the major news networks, but for the most part I am still hearing the droning on of how good things are, and we aren't in a recession, etc.

Whether you believe me, or want to tow the official line until it drags your sorry a$$ down, you owe it to yourself to read this.

http://en.wikipedia.org/wiki/Great_Depression

Look for similarities between now and late 1929. I think you will be surprised by the sheer number of similarities between now and then.
 

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Of course there will be similaries....the event is nearly the same back then as it is now. I dont need an economist to tell me that.

I wouldnt go so far as to call this a Great Depression just yet though.....that is just propaganda. Yeah things are bad, but they're not as bad and what everyone is experiencing right now is still technically in the baby stage.....y'all still have food on the table? Dont have to wait in line for hours to get food? Rationing of supplies? Stores are stocked?
 

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Of course there will be similaries....the event is nearly the same back then as it is now. I dont need an economist to tell me that.

I wouldnt go so far as to call this a Great Depression just yet though.....that is just propaganda. Yeah things are bad, but they're not as bad and what everyone is experiencing right now is still technically in the baby stage.....y'all still have food on the table? Dont have to wait in line for hours to get food? Rationing of supplies? Stores are stocked?
Yes- but isn't it better to prepare and act as if it *is* and then be pleasantly surprised- than to scoff at the idea, continue on business as usual- and then get caught with your pants down later? Granted- anyone here has a leg up on the general population just by being aware- but... This situation should be a HUGE red flag to up the preparations and action- get our butts in gear as best we can- preparing for the worst, hoping for the best...
 

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My grandmother, who was in a freshman high school in 1929 (she's 94 and still mentally sharp) tells me that, at least at this point, what we are experiencing right now is NO WHERE NEAR as bad as things were then. Back then, hardly anyone had a job. (What is our unemployment rate now, 6%?)

Lots of people (especially those who like to be on television) are hitting the panic button. Things aren't good, that I'll give you.

But those of you screaming "DEPRESSION" are jumping the gun, in my opinion.
 

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Of course there will be similaries....the event is nearly the same back then as it is now. I dont need an economist to tell me that.

I wouldnt go so far as to call this a Great Depression just yet though.....that is just propaganda. Yeah things are bad, but they're not as bad
Well, not in Canada. Canada was lucky to have Harper at the helm for the last two years and if Canadians are smart enough to re-elect the fella as Prime Minister, they should weather the storm fairly safe.

I heard that the International Monetary Authority has declared Canada to have the soundest and safest banks in the world, bar none and that the Canadian banks are not experiencing any of the problems that the rest of the world has.
 

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Discussion Starter #7
Of course there will be similaries....the event is nearly the same back then as it is now. I dont need an economist to tell me that.

I wouldnt go so far as to call this a Great Depression just yet though.....that is just propaganda. Yeah things are bad, but they're not as bad and what everyone is experiencing right now is still technically in the baby stage.....y'all still have food on the table? Dont have to wait in line for hours to get food? Rationing of supplies? Stores are stocked?


Hehe. Please don't get mad, but maybe there is some sand somewhere you can bury your head in for a while with all the other sheeple?

Maybe in Canada you think it wont affect you? Newflash...the American and Canadian economies are the two most closely related economies in the world and whatever happens to the US happens to Canada.

Did you even read the article?
 

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I agree that's it's not as bad yet. I guess at this point it could go in any direction and that's
probably the worst part of it. The not knowing.
As far as getting there, IF it does, I think it'll be worse. We're too far removed from our
sources of food (most people, hopefully not us). People are far too spoiled...more likely
to get mad because they can't get new game systems than that they can't get bread this
week. I think we're going to get to an "oh, shoot" point where it suddenly dawns on the
population at large (the sheeples) and bam...things will explode. A lot of people are still
under the delusion that "they" will "fix" things.
 

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Yes- but isn't it better to prepare and act as if it *is* and then be pleasantly surprised- than to scoff at the idea, continue on business as usual- and then get caught with your pants down later? Granted- anyone here has a leg up on the general population just by being aware- but... This situation should be a HUGE red flag to up the preparations and action- get our butts in gear as best we can- preparing for the worst, hoping for the best...
Oh yeah, of course I realize that prepping now is better than later when the SHTF. But calling it something it isnt right now is promoting fear and paranoia. Life is tough right now, our comforts are being tested as is the lifestyle that many have become accustomed to but I wouldnt call this a Great Depression. Believe me, when that hits, it'll make what we're going through right now a cake walk.

And I'm not scoffing the idea - I'm scoffing calling it something that it isnt. This sort of thing can be labeled as propaganda....make people think that things are worse than they truly are and that they have no hope. Just because a lot of people have to cut down on their all-inclusive cable package to basic doesnt make it a GREAT DEPRESSION!!!!
 

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sure are similaries like the stores were stock before the great depression and there were no lines either at the baby stages of the G.D. do i think this is gonna be another G.D. yes but with a twist of government say'n hey lets really Subjugate the people now look at them there really on there knees.

and every think has similarities by the way in the G.D. people were still breathing air but thats just me being an A$$ as kathy would say

learn from history or be prepared to repeat it right
 

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Yeah I did read it.
Again, I'm not burying my head in the sand, I'm prepping as much as I can. DH and I are quite aware of what is happening.

But our lives compared to the Great Depression are still pretty damn comftorable and I wont give in to the panic and fear that is being thrown around.
 

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Discussion Starter #13
The DJIA is down over 20% in just a week.

Since the start of the current bear market it is down around 42%.

Most economist are predicting the Dow to fall to around 7200 by the end of the month and probably sooner. That's just under a 50% drop.

Tell me if I am wrong, but has this happened in the past 60 years?

Credit markets are drying up and people are starting to convert cash in the bank to cash in the hand and are stocking up on food, guns, and other essentials. This summer I saw quite a few gardens but most were left to rot when the economy didnt tank. Ill bet next year there will be a lot more gardens and they will sty tended.

I admit that locally I would still say 90% of the people are meet are clueless about this whole mess and some dont even know about the credit crunch or the stock market.
 

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My grandmother, who was in a freshman high school in 1929 (she's 94 and still mentally sharp) tells me that, at least at this point, what we are experiencing right now is NO WHERE NEAR as bad as things were then. Back then, hardly anyone had a job. (What is our unemployment rate now, 6%?)

Lots of people (especially those who like to be on television) are hitting the panic button. Things aren't good, that I'll give you.

But those of you screaming "DEPRESSION" are jumping the gun, in my opinion.
I don't think that anyone is saying that we're IN a Depression right now- but the events and situation on the ground out there is certainly looking like it's put it into play as an inevitability. It doesn't take a rocket scientist to see what this loss of capital is going to do to the job market. Businesses going under, having to tighten *their* wallets- that means unemployment rates will soon skyrocket along with other things... Unless someone pulls something out of somewhere and "fixes" it...
 

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those who don't learn from history are doomed to repeat it. i believe a very smart man said that. if we countinue to wait and see and don't prepare for the worst, you will suffer. your family will suffer . all the signs are there in black white and red.our economy has had a good run but it will be done in a very short amount of time. when was the last time the dow plunged 4000 points and fixed itself. when was the last time the world economy and banks suffered as much as they are doing now. seriously , plan ahead , prep and pray.
 

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I don't think that anyone is saying that we're IN a Depression right now- but the events and situation on the ground out there is certainly looking like it's put it into play as an inevitability. It doesn't take a rocket scientist to see what this loss of capital is going to do to the job market. Businesses going under, having to tighten *their* wallets- that means unemployment rates will soon skyrocket along with other things... Unless someone pulls something out of somewhere and "fixes" it...
Actually the title of this thread says that:
SECOND GREAT DEPRESSION IS NOW!!!!
 
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