socialize_me
09-23-2008, 12:03 PM
I keep reading news articles saying "Sweeping reform not seen since the Great Depression," yet for all of FDR's policies, they didn't accrue to be a $700 billion bailout package for corporations, along with the hundreds of billions of dollars to absorb Bear Sterns, socialize the mortgage industry entirely, etc.!! I mean I know Peter Schiff was right in saying this has all of the elements of the Great Depression, the 1970's stagflation, and the Soviet Union collapse. We'll have huge unemployment, but unfortunately no contraction in the money supply so inflation will run rampant. People's life savings will dry up, and 401(k)'s will depreciate considerably.
I think Jim Rogers was right when he said he moved to Singapore back in 2007. He said in 1807 it would have been good to live in Britain, 1907 in the United States, and now 2007 it looks like it's great to be in China/Asia. The only problem with this, though, is that if the United States' economy collapses, China's will lose its largest trading partner. That's why I'm not concerned as many other people are that China will start dumping US Dollars because that'd be economic (and possibly militarily) suicide on their part. But if the Dollar does reach these astronomical inflation rate numbers, this will easily eclipse anything in the 1930's. It's just crazy that we live in a time where this is happening. I mean, it's almost a surreal feeling and maybe comes with the decadence of capitalism where you read about all of these financial disasters, especially the Great Depression, but you never see yourself in those times. This is a whole new era, and we're all a part of it. I'm saving newspaper articles so that 50 years from now I can point back to my grandchildren and act as the voice of wisdom pointing out how our leaders didn't have a clue what was going on except for one little "kook" from Texas; Congressman Ron Paul :)
I think Jim Rogers was right when he said he moved to Singapore back in 2007. He said in 1807 it would have been good to live in Britain, 1907 in the United States, and now 2007 it looks like it's great to be in China/Asia. The only problem with this, though, is that if the United States' economy collapses, China's will lose its largest trading partner. That's why I'm not concerned as many other people are that China will start dumping US Dollars because that'd be economic (and possibly militarily) suicide on their part. But if the Dollar does reach these astronomical inflation rate numbers, this will easily eclipse anything in the 1930's. It's just crazy that we live in a time where this is happening. I mean, it's almost a surreal feeling and maybe comes with the decadence of capitalism where you read about all of these financial disasters, especially the Great Depression, but you never see yourself in those times. This is a whole new era, and we're all a part of it. I'm saving newspaper articles so that 50 years from now I can point back to my grandchildren and act as the voice of wisdom pointing out how our leaders didn't have a clue what was going on except for one little "kook" from Texas; Congressman Ron Paul :)