Do you think we're in the next Great Depression? Y/N

[Vic Cardenas]

Perhaps the same thing will happen that happened a few months ago when the news reported that we have been in a recession for the past year. We were debating if we were in a recession or not. GWB said we weren't. Then the media reports we have been in one the whole time. So, now we just accept that we are in a recession.


5 Years from now...

"This just in. We have been in a depression for 4 years now, says some douchbag. Said douchbag has redefined the term Depression. Now back to your regular scheduled programming."

 

[racer-ex]

Agreed. I think it's an inevitability, actually.

FWIW, I'm loading up on Smith & Wesson stock (and some smallcap security products firms).

It's not whether/not Obama is making good economic decisions (he is), has the right team in place (he does), recognizes the urgency of the matter (he does), is willing to throw "everything" at the problem (we are).

The problem is that just because we "want" to "solve" this economic problem with minimal pain, doesn't mean we -- the gov't -- even can.

do not forget the c-4 why!? to heat the food--- and water for coffee. :wink:

 

[willabeest]

do not forget the c-4 why!? to heat the food--- and water for coffee. :wink:

i agree that many are over reacting. sure, crime will increase. our standard of living will go down. but there are lots of countries with lower standards of living than ours where crime is manageable.
here is the real question - will we still be able to get NSX parts in a few years? what if honda went belly up? what if the roads become so full of potholes and garbage you will be afraid to take your NSX anywhere but your own neighborhood? this is what you should be concerned about. these things could happen. and IMHO there is a 30% possibility we are in the beginnings of great depression 2.

 

[nsxotic911]

What are the thoughts of the great economic minds on this?

http://finance.yahoo.com/tech-ticke...ead?tickers=^dji,^gspc,^ixic,SPY,DIA,QQQQ,GLD

http://www.econlib.org/library/Enc/GreatDepression.html

 

[Searchin4acoupe]

What are the thoughts of the great economic minds on this?

http://finance.yahoo.com/tech-ticke...ead?tickers=^dji,^gspc,^ixic,SPY,DIA,QQQQ,GLD

http://www.econlib.org/library/Enc/GreatDepression.html

I'm interested in comments on this as well. I've been watching Peter Schiff very closely lately and he's got me less than optimistic.

 

[da3dalus]

As for the links above... I agree its only just begun.

As far as Schiff goes... hes someone i've followed for awhile and his public calls on the situation has been almost 100% everytime but apparently his fund isn't doing very well so maybe hes not putting his money where his mouth is.

If you want a good guy to follow... Jim Rodgers is the man. Go youtube him and you'll be astonished at how good this guys calls are and how good he is for putting the dumbasses on CNBC in their place...

He even called out some douchebag hostess who was trying to argue against him in an interview that she should come back when she has more than a undergrad degree in history.

i'll see if i can find the clip... its priceless.

 

[jond]

As for the links above... I agree its only just begun.

As far as Schiff goes... hes someone i've followed for awhile and his public calls on the situation has been almost 100% everytime but apparently his fund isn't doing very well so maybe hes not putting his money where his mouth is.

That graph is nuts! Puts things into perspective...

My opinion on Schiff, I've watched every interview he's done I think, so I do listen to what he has to say, but I take it with salt. I think he's over the top a bit, but he does have some good points, thoughts, etc that are good to see.

 

[sahtt]

The only thing you need to worry about are increasing protectionist pressures globally. This is what put the "Great" the in the Great Depression. Our government is more than willing to bring back 25% unemployment and start world wars in order to have the opportunity to slide some social programs into some fear mongered bills. What a ****ing joke.

 

[Ski_Banker]

Once again...amazing. How stupid are these people in charge???? Right now...everyone is looking in the left hand for "how to get rid of the bad assets from the banking system" when whats going on in the right hand (a rapidly deteriorating real economy) is the real problem. The bad assets in the banking system are inconsequential. What matters is the confidence of individual consumers and businesspeople, yet for every ridiculous "move, plan and intervention" by the Gov't, that confidence is only further eroded!!

(and now they want to suspend mark to market accounting to help solve the problem...it's accounting for Christ's sake!)

 

[Ski_Banker]

I made a mistake. Obama & Co. doesn't have the right economic team in place, and it doesn't seem to be making the right decisions either (although at least it's open to new ideas...a start...). Put Soros in charge -- he's one of the few big players that seem to get it, and who understands markets and behavioral finance unlike these clowns.

 

[sahtt]

Ski it doesn't even matter. You are giving them too much credit. They are using the fear to accomplish other goals. Sound familiar? People think I'm cynical when I say it's the same game with new players. Look around, every 4-6 years the other side becomes a hypocrite by their own words.

Main complaints of dems and many conservatives alike->Republicans spent way too much recklessly, used fear to push agenda. At least 90% accurate.

Now it takes a whole 2 weeks and we have the same old story.

If they gave a rat's ass they'd actually make a stimulus bill instead of a spending bill. Hey and Obama don't be a smart ass, there is a difference between spending and investment-one has a shot at increasing long term productivity and therefore economic growth the other has a proven record of destroying it.

As long as their is no up-tick rule I don't even care haha. Ski, silversonte, and steveny get that one.

The "new" treasury secretary ran the damn new york fed during this entire mess! Only in government.