Entering the Greatest Depression in History

[skyson]

OMG, why me, why now, why GTP(Greatest Depression):

http://www.globalresearch.ca/index.p...t=va&aid=14680

In 2008, the BIS again warned of the potential of another Great Depression, as “complex credit instruments, a strong appetite for risk, rising levels of household debt and long-term imbalances in the world currency system, all form part of the loose monetarist policy that could result in another Great Depression.”

After the last Great Depression, Keynesian economists emerged victorious in proposing that a nation must spend its way out of crisis. This time around, they will be proven wrong. The world is a very different place now. Loose credit, easy spending and massive debt is what has led the world to the current economic crisis, spending is not the way out. The world has been functioning on a debt based global economy. This debt based monetary system, controlled and operated by the global central banking system, of which the apex is the Bank for International Settlements, is unsustainable. This is the real bubble, the debt bubble. When it bursts, and it will burst, the world will enter into the Greatest Depression in world history.

[MulaMan]

Re: Entering the Greatest Depression in History

OMG, why me, why now, why GTP(Greatest Depression):

http://www.globalresearch.ca/index.p...t=va&aid=14680

On the bright side there will be lots of great movies, musicals, and music coming out.

[Rajiv]

Re: Entering the Greatest Depression in History

Then there was this Martin Weiss observation

Three Government Reports Point to Fiscal Doomsday

by Martin D. Weiss, Ph.D. 10-05-09
When our leaders have no awareness of the disastrous consequences of their actions, they can claim ignorance and take no action.
Or when our leaders have no hard evidence as to what might happen in the future, they can at least claim uncertainty.
But when they have full knowledge of an impending disaster … they have proof of its inevitability in ANY scenario … and they so declare in their official reports … but STILL don’t lift a finger to change course … then they have only one remaining claim:
INSANITY!
And, unfortunately, that’s precisely the situation we’re in today: Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly:

• The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …
• The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.
• The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.
• Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.
• Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!
• And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.

That is the epitome of insanity.
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[mooncliff]

Re: Entering the Greatest Depression in History

I told one of my friends about a year ago:

Look at the bright side. We are about 50. From when we were about 20 to about now, we lived through the biggest economic boom/bubble the world has ever seen, driven by cheap oil. Would you like that to have happened when we were children? Would you like it to have happened when we were 90? If someone was gonna burn up all the cheap oil in a single lifetime, I'm glad it was us! In 4.5 billion years, I would say the timing was impeccable.

[don]

Re: Entering the Greatest Depression in History

On the bright side there will be lots of great movies, musicals, and music coming out.

And apples on every corner (and every 5th corner will be organic ;))

[pianodoctor]

Re: Entering the Greatest Depression in History

[BigBagel]

Re: Entering the Greatest Depression in History

I told one of my friends about a year ago:

Look at the bright side. We are about 50. From when we were about 20 to about now, we lived through the biggest economic boom/bubble the world has ever seen, driven by cheap oil. Would you like that to have happened when we were children? Would you like it to have happened when we were 90? If someone was gonna burn up all the cheap oil in a single lifetime, I'm glad it was us! In 4.5 billion years, I would say the timing was impeccable.

I'm in my 50's and I think our timing is terrible. We'll be old and weak. Easy pickings for those looking for some prey.

[Quincy K]

Re: Entering the Greatest Depression in History

I told one of my friends about a year ago:

Look at the bright side. We are about 50. From when we were about 20 to about now, we lived through the biggest economic boom/bubble the world has ever seen, driven by cheap oil. Would you like that to have happened when we were children? Would you like it to have happened when we were 90? If someone was gonna burn up all the cheap oil in a single lifetime, I'm glad it was us! In 4.5 billion years, I would say the timing was impeccable.

Oil?

I thought it was Greenspan.

[t12357]

Re: Entering the Greatest Depression in History

I told one of my friends about a year ago:

Look at the bright side. We are about 50. From when we were about 20 to about now, we lived through the biggest economic boom/bubble the world has ever seen, driven by cheap oil. Would you like that to have happened when we were children? Would you like it to have happened when we were 90? If someone was gonna burn up all the cheap oil in a single lifetime, I'm glad it was us! In 4.5 billion years, I would say the timing was impeccable.

Sure and think of your next 50 years that will probably be "the Greatest Depression in History" so you will have lived the greatest and the darkest moments "the world has ever seen," you are right, "the timing was impeccable. "

[Serge_Tomiko]

Re: Entering the Greatest Depression in History

I'm in my 50's and I think our timing is terrible. We'll be old and weak. Easy pickings for those looking for some prey.

You generation is only "easy pickings" because they mostly alienated their children in pursuit of a decadent and depraved lifestyle.

In a more civilized age where parents did not offload their duty to the state or media, children took care of their parents.

[touchring]

Re: Entering the Greatest Depression in History

I'm in my 50's and I think our timing is terrible. We'll be old and weak. Easy pickings for those looking for some prey.

If hyperinflation sets in, you will have to postpone your retirement by another 20 years.

[BigBagel]

Re: Entering the Greatest Depression in History

You generation is only "easy pickings" because they mostly alienated their children in pursuit of a decadent and depraved lifestyle.

In a more civilized age where parents did not offload their duty to the state or media, children took care of their parents.

I wish to God I had a decadent and depraved lifestyle.