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Is an America that looks like a giant Bangladesh in our future? If so, how long till we get there? What % of 300 million here will be roaming the streets scavenging trash cans before things start to pick up? Will they EVER pick up? Will the descent be rapid or slow-motion? Opinions please.
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Quote:
Originally Posted by JoeyT
Is an America that looks like a giant Bangladesh in our future? If so, how long till we get there? What % of 300 million here will be roaming the streets scavenging trash cans before things start to pick up? Will they EVER pick up? Will the descent be rapid or slow-motion? Opinions please.
I'll reverse the the question. With Globalization how long until Bangladesh look more like the U.S.? OK maybe not like the modern U.S. How the the the U.S. in the turn of the 20Th century?
Is an America that looks like a giant Bangladesh in our future? If so, how long till we get there? What % of 300 million here will be roaming the streets scavenging trash cans before things start to pick up? Will they EVER pick up? Will the descent be rapid or slow-motion? Opinions please.
Oh. How cute. Somebody dozed off in their Economics 101 class and is now trying to bluff his way through the pop quiz.
Oh. How cute. Somebody dozed off in their Economics 101 class and is now trying to bluff his way through the pop quiz.
All these "can't happen here" folks are pretty funny.
Also, they aparently didn't ever talk to their grandma,
or read a history book.
Because at least TWICE in grandma's time, things have
been bad - pretty bad, as in no jobs, standing in line to buy 1 bar of soap, and they run out before you get to the head of the line, having to save coupons for gas and tires, and seldom seeing meat or butter on the dinner table.
Just because it has happened before, doesn't mean it can't happen again, you know.
All these "can't happen here" folks are pretty funny.
Also, they aparently didn't ever talk to their grandma,
or read a history book.
Because at least TWICE in grandma's time, things have
been bad - pretty bad, as in no jobs, standing in line to buy 1 bar of soap, and they run out before you get to the head of the line, having to save coupons for gas and tires, and seldom seeing meat or butter on the dinner table.
Just because it has happened before, doesn't mean it can't happen again, you know.
Well, the Great Depression was certainly a big deal, and my grandparents suffered through it, too. But most of what you describe was World War II. Don't think that's on the horizon anytime, soon. And somebody's reading the Chicken Little Gazette on this one, too.
Further, even at the very bottom of the Great Depression, America was about 50 times better than Bangladesh on a good day.
I dont know about a Bangledesh but we are heading right for another Great Depression. All the signs are there.
Last year only 3 banks folded all year. This year we have 5 fold so far with several more on the brink. Citibank and WAMU are discussing bankruptcy.
Just 3 years ago, one in 7 Americans were on some form of Govt assistance. Today it is one in 6. Experts say by 2009 it will be one in 5.
Trillions of dollars in lost home equity.
People living off credit cards just to eat and buy gas.
$5.00 gas just months away.
Food prices twice what they were 3 years ago.
Growing global imbalances in the world economy is pretty hard not to see.
The US dollar is worth less then the paper it is written on.
Record foreclosures everywhere expecially Las Vegas, Miami and So. Cal.
Las Vegas has one in every 44 homes in foreclosure.
China is buying up our companies all over.
So many many of our jobs going to China.
The remaining jobs are taken by illegal aliens who work for $7/hr.
Raises are something we will read in history books.
Only Unions and Govt jobs still give raises. The very best companies toss a token quarter an hour per year for their best employees.
The ever fattening Federal debt is about a dollar from collapse.
What we are in for is going to make 1928 look like a blip on the map. Mark my words. Im saving this post and will repost it when it all crashes.
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If so, how long till we get there? What % of 300 million here will be roaming the streets scavenging trash cans before things start to pick up? Will they EVER pick up? Will the descent be rapid or slow-motion? Opinions please.
