Exiting a Depression

[raiha]

So, if after 12 years of hardship, the world only emerged from the last Great Depression with the advent of WW2, what is it going to take to get us out of OUR Great Depression?
Somehow i doubt it will be economic wisdom or fiscal responsibility.

[Flirple]

Oh I suppose human ingenuity and technology will probably save the day one way or another. A new discovery, a major advancement of efficiency, invention, new source of energy etc. on par with the magnatude of the internet coming of age might do it.

Technological advancements progress exponentially and we should not underestimate it's ability to outpace (in the medium to long term) the damage caused by central banks.

[Conza88]

Oh I suppose human ingenuity and technology will probably save the day one way or another. A new discovery, a major advancement of efficiency, invention, new source of energy etc. on par with the magnatude of the internet coming of age might do it.

Technological advancements progress exponentially and we should not underestimate it's ability to outpace (in the medium to long term) the damage caused by central banks.

The greater the intervention in the free market, the greater the increase in the chances that, that amazing break through - DOESN'T happen.

Atlas Shrugged comes to mind straight away here..

[Cunningham]

The employees are still here and the capital still exists. This "depression" is being caused by monetary policy. Businesses need to fail that have failed business models. More intelligent entrepreneurs will pick up the remaining capital and create more innovative business models. But more importantly, our monetary policy has to be changed. It's very hard for a business model to function and entrepreneurs to make great decisions when the pricing mechanism is distorted by the governments policies. It sends the wrong signals to investors and they make bad decisions.
I really think the only way out is for the federal government to at least cut it's spending by half and repeal the income tax. Then they need to switch to a commodity backed monetary system or at least freeze monetary expansion. The transition will be hard but short. I really think that's the only way out. It's the easiest way. I used to tell democrat friends of mine, "Look, I'll get smaller government one way or another, eventually this country will go broke." Hopefully I'll get it soon.

[Elwar]

Oh I suppose human ingenuity and technology will probably save the day one way or another.

I think a toaster that not only toasts the bread but spreads the butter should do it.

[georgiaboy]

The employees are still here and the capital still exists. This "depression" is being caused by monetary policy. Businesses need to fail that have failed business models. More intelligent entrepreneurs will pick up the remaining capital and create more innovative business models. But more importantly, our monetary policy has to be changed. It's very hard for a business model to function and entrepreneurs to make great decisions when the pricing mechanism is distorted by the governments policies. It sends the wrong signals to investors and they make bad decisions.
I really think the only way out is for the federal government to at least cut it's spending by half and repeal the income tax. Then they need to switch to a commodity backed monetary system or at least freeze monetary expansion. The transition will be hard but short. I really think that's the only way out. It's the easiest way. I used to tell democrat friends of mine, "Look, I'll get smaller government one way or another, eventually this country will go broke." Hopefully I'll get it soon.

i'm with you, dude.

[Flirple]

The greater the intervention in the free market, the greater the increase in the chances that, that amazing break through - DOESN'T happen.

Atlas Shrugged comes to mind straight away here...

That of course is completely true. That is always true in any time and place. And yet, humans' standards of living in all countries continue to get better over the medium/long term despite most governments seemingly doing everything in their power in the short term to prevent any technological advancements with their market interventions .

This is what is so tragic about it. Things like the iPhone, somehow still get created DESPITE these horrific government attempts to halt such innovations. And people then are often unable then to fully grasp how much government is robbing them of. They don't see how much more they could of had if government wasn't stifling innovation. They can't miss what they never had. Technology and human knowledge advance exponentially in part because every generation inherits the knowledge and technology from all previous generations combined, and then they expand on it even more.

The technological advancements of the last 10 years are more than the several decades before it combined. But government intervention has been far greater in the last decade. Human progress has a way of outpacing government's parasitic effect. It's sad to think about how much even better life would be like in 2008 if the last 100 years where without any government market interventions.

Yes we may face a lengthy depression or even a currency crisis in the next months or years. Maybe even chaos in the streets or hyperinflation. But the human race's ability to skirt government efforts to stifle innovations is reason for optimism.

[Carole]

So, if after 12 years of hardship, the world only emerged from the last Great Depression with the advent of WW2, what is it going to take to get us out of OUR Great Depression?
Somehow i doubt it will be economic wisdom or fiscal responsibility.
Revolution :D:D:D

[Carole]

Oh I suppose human ingenuity and technology will probably save the day one way or another. A new discovery, a major advancement of efficiency, invention, new source of energy etc. on par with the magnatude of the internet coming of age might do it.

Technological advancements progress exponentially and we should not underestimate it's ability to outpace (in the medium to long term) the damage caused by central banks.
Unfortunately, that could only happen in a free market economy.

Those in power with their agendas will continue to suppress any deviation from the feudal and divisive status quo.

:mad: