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General discussion

Cheap $$$$$ equal run away inflation

by gearup / January 22, 2008 1:56 AM PST

always have, Right now in spite of doctored figures unemployment and bankruptcy are on the rise. Price of cars has gone insane. Price of petroleum also. I predict that we are in for another depression like thew one we had in the 1930's if we dont do something and a tax rebate is not the answer!

For those who dont remember the 30's banks and investment houses were going down the drain by the hands full. People lived in shanties while bank owned housing was boarded up and unsalable. Interest on savings was 1/2 of one percent. A new Chevrolet cost about $600.And people throughout this country were starving.Gong to the movies cost 25 cents for one adult and two kids for those who could afford it.

The bottom line is spending $$$$$ you dont have whether by govt. or by investors results in financial disaster for all concerned!

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Spending what you don't have
by Steven Haninger / January 22, 2008 9:17 AM PST

goes for the general citizenry as just as much as it does government and investors. You cannot point a blaming finger just one direction. I have a real problem when people complain about energy waste, pollution, financial troubles, etc. and turn to the president or government to fix it....all the while driving a big gas guzzler for a fresh loaf of bread because the 1/2 loaf they have is on it's last "use by" day. The enemy is us. (or so suggests Pogo)

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Of course. But in the end it is the driver of that
by gearup / January 23, 2008 2:03 AM PST

gas guzzler who ends up in shanty town or on skid row. Spending what you dont have in an addiction which cant be controlled . But govt spending can be controlled and will have tto be controlled if we hope to avoid 1929.

Unfortunately the other places it can be controlled are in big business. But their first reaction is to get rid of jobs...
I just hope that things can be slowed down before it gets to be too late
and our $$$$$$ tomorrow will be worth more than 50c.

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Different causes back then.
by Angeline Booher / January 23, 2008 4:44 AM PST

(I was one of those that was hungry.)

We have to remember that it was a world-wide Depression, and the actions of some other countries contributed to it, so the finger just doesn't point to us.

There are still arguments about what actually "caused it. as there seem to be among economists still. There is a history at:

http://en.wikipedia.org/wiki/Great_Depression

One site I understood more :

The US in the 1920's: Buying into the Boom
Central Banking Delusion: A Sharp Reduction in the Money Supply
Political Faux pas
The Demise of Trade
Taxing Timing

http://www.shambhala.org/business/goldocean/causdep.html

We also got hit with the Dust Bowl.

Some people cringe when "regulation" is mentioned, but after the junk bond scandal, the stock market guys came up with some new rules. So the mortgage banks are going to have to do the same. As our major national banks have gone begging around the world for bail-out money, our financial institutions will end up with foreign countries holding too large shares for my liking, which scares me the most. It's not like when Japan made large investments years ago. They haven't threatened us.

Angeline
Speakeasy Moderator

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RE: countries holding too large shares
by JP Bill / January 23, 2008 5:08 AM PST

Just another way of saying "selling yourself"

IMO, Sometimes it is advantageous to owe a lot of money to someone or some country/countries

Qualifier......Unless it is the Mob.

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Edit
by JP Bill / January 23, 2008 5:14 AM PST

Change advantageous to "better to"

as opposed to owning a little bit to a few people/countries.

but still not as good as not owing any thing to anybody/any country

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One solution
by Dragon / January 23, 2008 6:11 AM PST
In reply to: Edit

Would be the FairTax, which would cause the economy to grow, which would strengthen the dollar.

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I bothers me....
by Angeline Booher / January 23, 2008 6:44 AM PST
In reply to: Edit

..... who might own too much of our financial system.:-(

Angeline
Speakeasy Moderator

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(NT) (Nor an NT above)
by Angeline Booher / January 23, 2008 6:42 AM PST

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