4 thoughts on “Lessons from the ‘Long Depression’”

  1. Posted 04/01/2012 at 04:17 | Permalink

    The 1930w great depression is exactly what we should be comparing too!

    The FED printed so much money it was becoming worthless and they recalled 2/3rds of the cash in circulation to try and drive its value back up,all it did was cause the great depression.

    Today their printing money by mouseclick as bernake calls his wall str banksters to come collect the cash and buy up worthless selected stocks to pump up the DOW MARKETS.Ive heard as much as 50 trillion has been spent this way over the last 5 years.

    Unemployment is probably worse than the great depression as the governments changed the way it formulates those numbers like what 7 times since the great depression and they still play with the numbers every week. I think we all know the actual number of unemployed is around 20% give or take a few points.

    Hyper-inflation is taking off just today I went to buy a quart of motor oil at advance and it was right at 6 bucks for a single quart! I saw some name brands as much as 8 bucks……..chilling doesnt even qualify.

    You can keep on with the denial stories and keep harping obamas plan that its getting better when everyone knows its not. They print money and give it to the banks so they can buy up the new debt creations to keep the economy from total collapse.Business has about 7 trillion dollars its sitting on and will not spend,they need it to weather the current storm and survive,especially not knowing what the rules for business will be.

    Pension funds another seriously close to collapsing social fund,that the federal govmnt will no doubt have to bail out since governments around the world have already stolen that money from the banks and put on their own balance sheets especially ireland,protugal,spain,greece etc……

    If its got cash assetts the governments are out to steal it one way or another.

    Obama has hired over 15,000 new IRS agents replete with new weapons ie shotguns for raids….and their are a lot of them simply to go to switzerland and dig dig dig for other peoples money!

  2. Posted 19/01/2012 at 08:53 | Permalink

    It sounds as if there are lessons to be learned from both the 1930’s and 1873-1896 depressions. We would do well not to forget those of the 1980s, though whether the current UK government has applied them sufficiently remains to be seen. The rapidly deteriorating unemployment data announced yesterday suggest they need to learn the right lessons from the 1980s to avoid a decade of mass unemployment.

  3. Posted 19/01/2012 at 15:58 | Permalink

    I am very young. But I think the 1930’s depression was ended by a great public works programme.
    It is known in the UK as World War 2.

  4. Posted 01/02/2012 at 10:10 | Permalink

    Recently published UK and EU data on unemployment and GDP and forward projects for the same suggest that your statements in paragraph two above may be inaccurate.

    Joseph Stiglitz also gives detailed economic information in the recent article in Vanity Fair, which also suggest these statements may be inaccurate in respect of the US economy too. He intimates that the USA is going through a massive structural economic adjustment similar to that experienced in the 1930’s. 6 million fewer jobs, falling wages and 80% of the population spending 110% of their earnings in the run up to the crash are amongst some of the interesting data uncovered.


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