"Key Indicators of a New Depression"

[Wapasha]

Originally Posted by delusianne

"From jobs to food to the roofs over our heads, the current period of economic turmoil is at least as bad as the First Great Depression, whether or not the financial media wishes to acknowledge it. The main difference is that unlike in the '30s, the US dollar is now the world's fiat reserve currency, so we are able to push our problems overseas for awhile. The plight of the rural Chinese is really our plight - we are living lavishly on the wealth they create. Were they to quit this dastardly arrangement, the full effects of Great Depression II would be felt in America."

Key Indicators of a New Depression (http://www.learningmarkets.com/key-indicators-of-a-new-depression.html - broken link)

I wish our congress would stop this deficit spending by borrowing from the "the wealth they create" in China.

[Swingblade]

[quote=florida.bob;14568695The people that listen to this drivel are obviously very susceptible, it is pretty easy for ideas to resonate in mostly empty heads. Actually, they may want to hear it, for some reason. [/quote]
I would guess you would consider me a empty head and I wear that label with a badge of honer.In the forum there have been many threads comparing what took place before and during the depression and showing the same signs we are experiencing today.I am sure you are aware of the saying history repeats itself,if you look at the response from our gvt and the FR back then it is identical to what they have done today.Why do you expect a different result?
Another point of comparison is back then the market had a down turn and then the crash,hmmmm we just a had a downturn.Today there are plenty of talking bobble heads talking up the stock market and the economy.It was no different back then,here are a few examples:
[SIZE=1]

[SIZE=1]
This bullishness was reflected in several other official pronouncements, some of which we show below, that have been excerpted from the Wall Street Journal. (courtesy-newsfrom1930.blogspot.com). Note, in particular, the bullishness of the various brokerage houses. We have also shown the closing level of the Dow on the particular day of the quotation. These levels were not exceeded until 1951.
Monday June 9, 1930. DJIA-257.82
"Business is seasonally slow and upcoming earnings reports in July will be unfavourable. However markets improve before upturns begin, in anticipation; that is why ‘investment trusts and powerful banking groups’ are now accumulating stocks."
Friday June 20, 1930. DJIA-228.97
"The time to have been pessimistic was last fall rather than now. ‘In the past we have always emerged from a period of depression with industry on a better basis because of efficiency and economy made necessary when business was bad."
Tuesday July 8, 1930. DJIA-218.33
"Winthrop, Mitchell believes market is in much better condition after recent liquidation, believes stocks ‘getting near rock bottom levels; would buy many major stocks on further selling. They may go lower, but not worth trying to pick a bottom: The long pull prospect of larger profits is too good to be concerned about 5 or 10 point dips, which later will be regarded as only minor setbacks in a major upturn."
[SIZE=1]Wednesday July 16, 1930. DJIA-233.79
"Dresser and Escher say ‘American industry is in the healthiest condition it has been in years; inventories low, the cash position strong, operating efficiency everywhere developed as it has sel[SIZE=1]dom been developed before. ‘They note that stocks recently almost hit the panic low from last November (DJIA-198.69, November 13, 1929); ‘What a chance for a man who hasn’t lost his head (To lose his shirt - Editor’s comment) to lay the foundation of an everlasting fortune.’"[/SIZE]
[/SIZE][/SIZE]

That same song and dance by the talking bobble heads is taking place now:[SIZE=1][SIZE=1]

"The prospects for a return to growth in the near term appear good." Ben Bernanke, Federal Reserve Chairman, August 18, 2009
"Today’s bullish investors see the major stock indexes making steady progress through next June, amid signs the US economy is on the mend after a searing recession.’ The publication said in its fall survey of money managers." Reuters, 1st, November 2009.
"The percentage of investment newsletter writers who are bearish fell this week to the lowest level since October 2007." (The all-time high in the Dow) Los Angeles Times. August 26, 2009.

Keep in mind that Barnanke said the bursting of the housing bubble hit him like a freight train.Why anybody that has half a brain would listen to him when the signs were all over the place.See that what the talking bobble heads do is talk up the economy and to give false confidence to the people.
This long article was first posted by Silverone,please read it and point out the errors of the empty head writer if you can.
http://longwavegroup.com/publication...22_Dow1000.pdf
[/SIZE][/SIZE][/SIZE]

[florida.bob]

Originally Posted by reid_g

I would guess you would consider me a empty head and I wear that label with a badge of honer.In the forum there have been many threads comparing what took place before and during the depression and showing the same signs we are experiencing today.I am sure you are aware of the saying history repeats itself,if you look at the response from our gvt and the FR back then it is identical to what they have done today.Why do you expect a different result?
Another point of comparison is back then the market had a down turn and then the crash,hmmmm we just a had a downturn.Today there are plenty of talking bobble heads talking up the stock market and the economy.It was no different back then,here are a few examples:
[SIZE=1]
That same song and dance by the talking bobble heads is taking place now:[SIZE=1][SIZE=1]

Keep in mind that Barnanke said the bursting of the housing bubble hit him like a freight train.Why anybody that has half a brain would listen to him when the signs were all over the place.See that what the talking bobble heads do is talk up the economy and to give false confidence to the people.
This long article was first posted by Silverone,please read it and point out the errors of the empty head writer if you can.
http://longwavegroup.com/publication...22_Dow1000.pdf
[/SIZE][/SIZE][/SIZE]

I am hearing an echo from somewhere!

[Peggy Anne]

I have nothing against Chinese goods. I despise : Chinese "bads." Dangerous, shoddy, worldly objects are not a positive thing no matter who makes them. I keep hoping that our own cottage industries will return. I do miss the old days when we had a decent bakery in every town, a shoe repair shop, a movie theatre, magazine stands, small post offices without the ugly lighting. It bothers me that the US is in debt to a Communist country. Big Time. I can't believe some of the garbage people spend money on. I am more than willing to downsize my already downsized life. Food, clothing and shelter are the basics, and I will go from there. After awhile...stuff will own me if I am not careful.

[majoun]

Originally Posted by pvande55

Millions upon millions are trying to get by without a job. The depression we are in is (so far) not as bad as the one of the 1930's. And for those without a college degree is slightly milder than the one of 1982-83. As far as the Chinese, they will keep lending the U.S. money. We are their best customer.

Deflation hasn't set in yet- a necessary effect of a true depression.

Notice the word "yet". It's probably a matter of when, not if.

[texdav]

I don't thnik if you have ever read of the great depressio this comes close to comparing.

[sanrene]

"Key Indicators of a New Depression"

But, but, but I thought things were swell and obama had turned all the bad into good?