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  • "Greater Depression" Coming?

    http://aotearoaawiderperspective.wor...sion-number-2/

    This is a short article about why we might be in for even tougher times than during the "Great Depression" of the early 30's. Pretty sobering stuff.
    Last edited by Literalist-Luke; Oct 21st 2008, 05:54 PM. Reason: Clarification
    ----------------------------------------------
    When the plain sense of Scripture make sense, seek no other sense.

  • #2
    Alrighty Luke, we will be needing description of what to expect on that there link.


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    • #3
      Originally posted by quiet dove View Post
      Alrighty Luke, we will be needing description of what to expect on that there link.
      Sorry, I don't post many links, so I forgot that. Hopefully got it fixed now.
      ----------------------------------------------
      When the plain sense of Scripture make sense, seek no other sense.

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      • #4
        Do any of you economists out there have any idea how much bigger the credit bubble in our present economy is compared to the one that popped in 1929 and shortly thereafter? I know it's a lot bigger today, but I want to know how much bigger, like maybe in a percentage or something else specific.
        ----------------------------------------------
        When the plain sense of Scripture make sense, seek no other sense.

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        • #5
          Originally posted by Literalist-Luke View Post
          Do any of you economists out there have any idea how much bigger the credit bubble in our present economy is compared to the one that popped in 1929 and shortly thereafter? I know it's a lot bigger today, but I want to know how much bigger, like maybe in a percentage or something else specific.
          I can add two plus two! I sent a PM to someone that understands this kind of stuff in depth...

          There were a number of things different back then that isn't happening now that I think will make a huge difference. We haven't been experiences a major drought for one thing! Alot more farmers then...or should I say, alot more people depending on farming back then so when crops failed that was it for them. Now when crops fails the government helps those farmers out so even a few bad years doesn't result in something this major. The failed crops also caused a food shortage. These people literally lived off their farms alone. The money they did get from their crops then of course went for buying other things. But farmers were never rich by any means. Another problem was that was all they knew how to do! Now farmers work computers, run monster machines and can move onto other kinds of work without alot or any training.

          Also on top of this was the great dust bowls which we aren't having now. Because they cut down far too many trees and had no wind breaks like they do now (a wind break is a straight line of trees left uncut around crops and many times by rivers and creeks too, to block the wind). We see wind breaks like this here. We can't drive out of town here without seeing fields and wind breaks actually. Kansas is very windy and was one of the hardest hit by the dust bowl days...they learned their lesson after that. Not only did they need the trees to stop the wind from blowing away the top soil it also protects the crops and any livestock they might have. The wind here especially in the winter can be deadly to live stock and bring the wind chill down quite alot!

          Anyway alot of live stock also died simply because of the dust! When the dust would come in they had no way to get out of it and would suffocate on it. So then the farmers not only lost their field through drought, but lost their live stock which could have been money and food for them. Now life stock are more protected by these wind breaks.

          So we don't have a major drought going on in many states like they did...we don't have food shortage and we aren't experiencing dust bowls...and we don't have disease such as TB, polio and other things running rampant either like they were also experiences then. It was really, really bad for them. Starvation, homeless, disease and a war going on. I would have not liked to have lived back then for sure. It seems the ones that suffered the most were the migrant workers that went from farm to farm getting paid for picking their crops. They had no education and no other work experience to really fall back on.

          http://www.english.uiuc.edu/maps/dep...depression.htm
          The Great Depression

          I think this is the same link you had with the photo gallery only this is the home page that explains how it all happened and the other things going on at the time.

          Oh I noticed something odd in one of those pictures on your link...there was a posted saying something like "The secret love life of Hitler" . Apparently they had rag magazines back then too... Like who would care when you were going through all of that!!!

          God bless
          "People do not drift toward holiness. Apart from grace-driven effort, people do not gravitate toward godliness, prayer, obedience to Scripture, faith, and delight in the Lord. We drift toward compromise and call it tolerance; We drift toward disobedience and call it freedom; We drift toward superstition and call it faith. We cherish the indiscipline of lost self-control and call it relaxation; we slouch toward prayerlessness and delude ourselves into thinking we have escaped legalism; we slide toward godlessness and convince ourselves we have been liberated?" - D A Carson

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          • #6
            Two problems. First I have read that some southern areas, like South Carolina and Georgia (among others) Were struggling with water shortages in the last year or two. I don't know if that situation has changed or not.

            Secondly, without household farms, when businesses have to start laying workers off the computer worker, or service professional, won't have a job to stand on. If the Banks were to fail, then would things like debit cards and check systems start to fail as well? You could have mass panic if people can't get access to their cash. We may not have TB or Polio as rampant, but there are other diseases that could cause problems. INfluenza being one of them.


            Also let's not forget this Crash is still a recent phenomena, the economy didn't hit rock bottom yet.

            Personally, I've suggested the Dow could fall to somewhere jsut north of 6000 before a true correction to normal growth could begin. I hope I'm wrong on that though.

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            • #7
              Wow, I heard this might take place sooner or later, but here it is....http://www.youtube.com/watch?v=CnnOO...e_Crisis_Grows

              living in tents.

              And Colorado has been having a water shortage, because of little rain, now even Michigan is experiencing these same conditions, their water levels have been getting increasiningly lower of the last several years.
              Don't seek too much knowledge. You just may be putting more weight on your shoulders than you're able to bare. Let God be the one to decide how quickly you grow.

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              • #8
                Originally posted by Veretax View Post
                Two problems. First I have read that some southern areas, like South Carolina and Georgia (among others) Were struggling with water shortages in the last year or two. I don't know if that situation has changed or not.

                Secondly, without household farms, when businesses have to start laying workers off the computer worker, or service professional, won't have a job to stand on. If the Banks were to fail, then would things like debit cards and check systems start to fail as well? You could have mass panic if people can't get access to their cash. We may not have TB or Polio as rampant, but there are other diseases that could cause problems. INfluenza being one of them.


                Also let's not forget this Crash is still a recent phenomena, the economy didn't hit rock bottom yet.

                Personally, I've suggested the Dow could fall to somewhere jsut north of 6000 before a true correction to normal growth could begin. I hope I'm wrong on that though.
                I know the lack of rain continues in GA, not sure about SC. They have both gotten some rain but I am thinking not as much as the needed to correct the situation.


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                • #9
                  Well Kansas...that was a victim of the dust bowls back then due to severe drought is above average this year on rain. Though the lower part of western Kansas has been in a severe drought for years. Though recently has been getting some rain, though I image it will take awhile to get it back to normal provided the rain continues. So here anyway we are doing ok.


                  God bless
                  "People do not drift toward holiness. Apart from grace-driven effort, people do not gravitate toward godliness, prayer, obedience to Scripture, faith, and delight in the Lord. We drift toward compromise and call it tolerance; We drift toward disobedience and call it freedom; We drift toward superstition and call it faith. We cherish the indiscipline of lost self-control and call it relaxation; we slouch toward prayerlessness and delude ourselves into thinking we have escaped legalism; we slide toward godlessness and convince ourselves we have been liberated?" - D A Carson

                  Comment


                  • #10
                    Originally posted by Literalist-Luke View Post
                    Do any of you economists out there have any idea how much bigger the credit bubble in our present economy is compared to the one that popped in 1929 and shortly thereafter? I know it's a lot bigger today, but I want to know how much bigger, like maybe in a percentage or something else specific.

                    The outstanding debt in the US is at the moment 270% of Gross Domestic Product (GDP). In 1929 it was 150%

                    (Translated from a newspaper)

                    my God; in Him I will trust (Psa 91:2).

                    If you have not accepted Jesus Christ as your Savior, NOW is the time.

                    Persevere, pray and be ready for the Return of Christ.

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                    • #11
                      Originally posted by Roelof View Post
                      The outstanding debt in the US is at the moment 270% of Gross Domestic Product (GDP). In 1929 it was 150%

                      (Translated from a newspaper)
                      Ouch. Thanks.
                      ----------------------------------------------
                      When the plain sense of Scripture make sense, seek no other sense.

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                      • #12
                        Originally posted by Veretax View Post
                        Also let's not forget this Crash is still a recent phenomena, the economy didn't hit rock bottom yet.

                        Personally, I've suggested the Dow could fall to somewhere jsut north of 6000 before a true correction to normal growth could begin. I hope I'm wrong on that though.
                        The dow was at 2000 in 1987 and 6000 in 2003. I believe we slide past the 6000 mark and closer to 1987 levels.

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                        • #13
                          Household debt is 53 trillion. National debt 11 trillion plus. Credit defalt swaps could be as high as 300 trillion..... You can't throw enogh money at the problem.

                          Throwing money at the problem only causes other problems, inflation, devaluation of the dollar, and the loss of our freedoms. Though we will first experience a period of deflation as companies try to survive it will eventually give way to run away inflation with our money back by nothing and the massive infusion to the money supply.

                          Usually our dollar would have crashed already with the printing presses 24/7 however we are having a global phenomenon. Everybody is printing money to survive and the world still thinks we are the strongest hence our dollar is rising. This too will reverse with all currencies to be rendered worthless in the near future.

                          The world will turn to their dear central banks (owned by private individuals) which should bring the the IMF and the world bank front and center. It will be a great time for a common currency as part of the solution. Why not.

                          Mark

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                          • #14
                            Well.....we're all in it together....

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                            • #15
                              These days though there are a lot more interventions by the government into the economy.

                              Most of modern economic theory for Government comes from the Great Depression.

                              Sad to say but there are other countries and economies in the world run better than the USA at the moment. But what affects your country is so unique in terms of culture/history/politics.

                              Btw Australia paid it's national debt off in 2006. Apparently we still run an overall debt for securities or some such thing.

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