Worse than the Great Depression

Discussion in 'Economics' started by ProfitTakgFool, Nov 6, 2008.

  1. Yes, the ratios are much greater to send us lower than before and to limit the rate of recovery. Don't tell stock trad3r though, you might step on his scarred ego.
  2. This will be worse than anyone could ever imagine......
  3. When do you think the stock market manipulators will start jumping out of window. Oh I forgot that they now have golden parachutes.:D :D

  4. the even crazier thing is that our credit debt as a percentage of GDP has only INCREASED! the last number i saw for 2008 put us at 350% of GDP....fucking retarded.
  5. Which strengthens the case that the ONLY way out of this mess is to massively default on all the debt.
  6. BSAM


    (Speeeee.....Pabst, would you have posted this if McCain would have won?)
  7. "Assistant Professor, The American University in Bulgaria teaching Macroeconomics, Money and Banking, and International Finance"

    Assistant professor in Bulgaria. Who would've guessed :cool:
  8. gbos


    :) I don’t know if it’s going to be worse than the great depression but certainly I have seen a lot worse things in my life. Coming from a country with 20% inflation in the 80s and loan rates running at 30% yearly back then, the current situation doesn’t look that depressing to me. Somehow capitalism survived and better days came sooner than everyone expected. Then again maybe as an outsider I am a little more optimistic about the power of the US economy.
  9. Nothing can save home valuations as measured in constant dollars. I don't dismiss global currency devaluation down the road though. Job loss, pension defaults and municipal failures will be large irrespective of policy.

    If McCain had won there would have been greater stability going forward. I've said for a long time about Obama's policies-wrong era.

    I trade as much as possible counter intuitively and the anti-conventional wisdom bet-the right bet-was that stupid Sarah Palin actually understands what the three other hacks from the U.S. Senate don't. The Federal government is dead. This crisis is going to be so overwhelming for local governments that folks are going to REVOLT over paying Federal taxes. You going to be pumped about sending Washington D.C. a 20k check as your police, parks and schools are shutting down because of a budget shortfall? Do you see any elasticity to raise property taxes? Do you know that ONE OUT OF SIX working Americans are either directly or peripherally working for government? Plus entitlements to retirees.

    The collapse of GOVERNMENTS THEMSELVES will the headline story going forward. When Obama protested to McCain that "John wants to use a hatchet while I'll use a scalpel" I knew we were in deep, deep shit. In the entire developed nation equation the biggest culprit of all is the excessive expense of government. From top to bottom. We're starting to see SHOCKING losses to institutional account holders. Some of these municipalities were under funded in the best of times. One can imagine how they look after a 40% haircut.
    #10     Nov 6, 2008