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i t seems the economic damage is extensive with debt levels we can never hope to pay and California is basically insolvent, are we in for some very tough times like we have never seen?
I say yes, we are already in one but we won't admit it.
It's not gonna be the same though...it would be silly to assume it would be just like the first great depression, after all it is a totally different world and dynamic now than it was in the 1930s. Even the word "depression" is more or less undefined and open to interpretation. Still, I imagine that's how history will remember this decade.
I wondering if we will see massive food lines, even shortages, rioting looting, massive urban crime where it turns into survival of the fittest. I think it will get pretty ugly as we can't even afford to keep criminals in prison, so they can get away with absolute murder.
No, I highly doubt that we will see things like they were during the great depression.
Why do you say that? I live in California and this state is in financial ruin, they are seriously talking about closing librarys, they have already shut down several schools, it is not looking good here.
Location: New Albany, Indiana (Greater Louisville)
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This is nothing. The current crisis is artificial and man made, the coming crisis is natural and irreversible.
Wait until oil prices soar (say $15 a gallon and higher), then wait another 30 years until we pass peak coal. People can do great just driving a smaller car, but no one wants to use half as much air conditioning or use a half sized refrigerator - but they will have to when there is no more cheap coal left.
All the world's civilizations will be pushed to the brink when the world runs out of cheap fossil fuels. The current 1st World lifestyle can not be satisfied with "renewable" energy, at least not at the current population level.
I think it can get a lot worse and this is only the fringe, for starters how are we ever going to pay off this enormous debt? The U.S credit card will soon be cut up and nations we owe money are going to want to collect, we are on the verge of being insolvent where the dollar will be worth absolutely nothing, what is to stop all this from happening? Where is the money going to come from? America doesn't have a large manufacturing base like China.
I don't think we are in for another "Great Depression."
But google the term "Long Depression." It occurred in the late 1800s and I think that it is a more close approximation to what we are going through now.
I hope I'm wrong on that, but this has been a long time coming. Decades of
1-Dumbing down of the populace
2-Bad governmental and business practices and policies, both fiscal and social
3-Being fat and happy with ourselves
have left us in this position and now we'll have to dig our way out of it.
I wondering if we will see massive food lines, even shortages, rioting looting, massive urban crime where it turns into survival of the fittest. I think it will get pretty ugly as we can't even afford to keep criminals in prison, so they can get away with absolute murder.
We already have over 1 of 8 (or higher) of the population on Food Stamps. Is that not the modern Food Line?
Real unemployment numbers are well into double digits for most of the US.
The Banks would already be broke if they were not on Welfare and being allowed to operate with fake asset values of the devalued foreclosed property they are sitting on.
As far as folks in jail. We already have the highest rate of prisoners in the World. USA #1, eh? But a large number of them are just there for "War on Drugs" charges. No real social harm if they are in or out. Just part of the Prison Industry business.
But on we go with the Endless Wars, more weapons, bailouts for the Too-Big-To-Fail, and More Debt for US.
National Bankruptcy could be a beautiful thing.
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But a large number of them are just there for "War on Drugs" charges. No real social harm if they are in or out. Just part of the Prison Industry business.
