US Crisis Worse Than 1929

[CurtisLow]

The Federal Reserve's rescue has failed

The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Ron Paul Save us!

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml&page=1


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[ghemminger]

The Federal Reserve's rescue has failed

The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Ron Paul Save us!

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml&page=1


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This is some scary shit

[Luft97]

Of course it will be worse. The problem the people of the US don't understand with allowing manufacturing to leave the country is everything is relative in this world and it applies to all aspects of life. We have allowed our government to broker trade deals and subsidise the trade partners to allow them to build manufacturing plants for cheap labor overseas. The problem is someone will get the short end of the stick ie: The US citizens.

You have a glass of milk that is almost full, the other guy next to you has a glass that hardly has anything in it. So you begin to pour some from your glass into his. Now you have given him more and you now have less.

The same can be said for our economy and our standard of living. Coming out of this is going to be horrible because there are VERY FEW manufacturing jobs left in this country.

It's a shame but I was talking about all this stuff when Clinton was allowing all of our jobs to go overseas.

[kimo]

This is some scary shit

Yes it is. Btw nice to see your´re back;)

[ghemminger]

Yes it is. Btw nice to see your´re back;)


thanks kimo - just stopping thru - article like this keep me comming back - thanks forums:)

[Agent CSL]

EXACTLY, Luft. I keep stressing the fact that a lot of our manufacturing jobs are overseas and hell, they ain't coming back for a long time. Our economy is built up on "want", not need. The average poor American doesn't need a computer, so once our economy goes to shit, you can pretty much wipe out these excess want jobs. The technology industry is not sustainable if people choose to buy food, shelter and clothing instead of those "want" items.

And of course the credit to buy those WANT items and services is going to crack apart and explode in a bloody orgy.

There is no exaggeration. Our country is broke, our gold reserves are empty, our food supply is in trouble, our liberties are being taken away, our war has polluted the land, and all our jobs are overseas. No matter which way you point the arrow you can only see destruction of our country. Whether it will be long and drawn out or quick and painful, I don't know.

[pinkmandy]

We also have a new problem we didn't have in the 30's. We have a huge chunk of our society dependent on entitlements they won't be getting enough of anymore...talk about chaos. And you think Katrina was bad.

[WilliamC]

My understanding of the Great Depression was that, if you were one of the lucky ones who had cash to spend, things weren't so bad because there was either no inflation or actual deflation.

This time cash won't save anyone because the value of it will be inflated away.

This time it will be far worse :(

[constitutional]

The Federal Reserve's rescue has failed

The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Ron Paul Save us!

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml&page=1


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STOP POSTING ARTICLES LIKE THESE!! IT MAKES CERTAIN THINGS COME BACK!! AND I DON'T LIKE IT!!!!! :mad:


sorry for caps, carry on. :)

[CitizenPlain]

...

[pinkmandy]

So what would you say to people who read this article and said it is all being blown out of proportion? That it's not THAT bad? And yes they are Obama supporters, lol.