Are you ready for the 2nd great Depression?

By definition in economics, a depression is a sustained, long downturn in one or more economies. It is more severe than a recession, which is seen as a normal downturn in the business cycle.
Considered a rare but extreme form of recession, a depression is characterized by abnormal increases in unemployment, restriction of credit, shrinking output and investment, numerous bankruptcies, reduced amounts of trade and commerce, as well as highly volatile relative currency value fluctuations, mostly devaluations. Price deflation or hyperinflation are also common elements of a depression.

We have been in a recession for over a year now, things are steadily gettting worse worldwide, and will continue to get worse with soaring unemployment. Is there anyone still trying to convince themselves that we have not entered into the beginnings of a 2nd Great Depression? When The American Motor Companies go into chapter 11 restructuring, trickling down to hundreds of thousands of jobs lost either directly or indirectly, and then snowballing worldwide, on top of the wasted 800 Billion dollar "bailout" that is having absolutely no effect on the current financial meltdown, will a panic arise? Is it time to start stock pilling Canned goods? What do you think? Are you ready?

I've tried twice to type an answer to this thread, but both times it ended as a rant about the total incompetence of my government/Prime Minister who think the answer to recession is to throw my money at stupid schemes and let me pay for them for years to come


I will now issue myself with a warning for breaking the rules - seriously this thread is exempt, so fill your boots.

Why not have another great depression. It was so "great" the first time and besides the world is far too happy a place as it is

The fact that governments have allowed it to even get to this point beggars belief. Common sense and logic will soon disappear from the English language. It already has in politics.

As for stock piling canned goods? Maybe not. Am I prepared? Yes. I've been playing Fallout 3 and i'm ready for the wasteland

(Just trying to keep it light hearted )

did you all know that Gordon brown sold ''half'' our gold reserves to china at ''half price'' just before this rescission hit us... what a total ''BELL END''

now its worth far over normal price, let alone half..

& now the country sinks further into depression, more made unemployed, more benefit payouts.....WE NEED THAT RESERVE RIGHTNOW!! our country will bleed itself dry by next year if things dont change

i love England's heriatige, but the ppl at the top need shooting.




SK

I bet those people at the top aren't suffering though are they, too many chiefs and not enough Indians, half the time the ones at the top don't know what they're talking about anyway let alone know what trouble they're causing

I dont think we are going into a great depression but we are in a resecion

I say as I usually say, we will see. Indeed there's a high risk for a real depression, but it may still turn around. Raw material prices are going down, interest rates too. I am worried over the US car manufacturers; if they go down, we are all in big trouble. Nortel was the latest warning.

I will not stockpile supplies, but am rather buying more fun stuff than ever; electronics, travels, furniture etc. I have spent more the last 6 months than during the previous 15 years together. If everything goes down, I have at least had some fun. I avoided the stock market downturn, sold off everything on top, and can pay my debts. Life is good, isn't it?

That's the trouble with politicians. They are so blinkered that they cannot see what is really going on. As long as their trough doesn't run dry, they'll keep sticking their snouts in it. They were denying that there was a recession looming, however at the end of 2008 in the UK one of the country's most well-known stores went under - Woolworths, aged just under 100 years. Many companies who used to supply Woolies are having to cut back, and some of these are also on the brink of collapse. Other firms and businesses are also having to down-size, and for them, the threat of a recession is no more - to them there IS a recession. No doubt the country will ride this out, as will other countries around the world. There is no choice. It won't be easy - things will only get worse before they get better.

My opinion of a politician (of any political persuasion): A politician will tell you what THEY want you to hear and then go away and do what they were going do in the first place, even if it is the COMPLETE OPPOSITE. In short, I don't trust them.

Dwarf said:

My opinion of a politician (of any political persuasion): A politician will tell you what THEY want you to hear and then go away and do what they were going do in the first place, even if it is the COMPLETE OPPOSITE. In short, I don't trust them.

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Amen to that Dwarf. I hate politicians. In order to be "succesful" politician they have to be fairly psychopathic (in the clinical psychological sense not the axe-wielding maniac sense) and one of the main attributes of of a psychopath is that they have a lack of empathy. How can someone care for the country when they are unable to empathise.

Show me a politician who tells the truth and keeps their promises and I will vote for them. Until then i don't think their is a single politician who deserves my vote.

Our governments and politicians are ran by the corporations. The big CEO's at the top of the corporate ladder collect salaries in the millions per year, while the poor working guy tries to scrape a living off of a few pennies per month. The greed and corruption in the corporate world is beggining to cave in on itself. What really gets me is the bad decisions that were made by these greedy corporates are now leading up to a worldwide economical collapse and what does our governments do? they hand them more billions of taxpayers money, that we the small guy end up paying for!! Why should the little guy have to pay for the mistakes of the filthy stinking rich so they can continue on living their extravagant lifestyles? I think its time the rich CEO's were knocked down a few pegs and try living like the rest of us have to live.

Yup... you guys have nailed it.

Everything is sooo messed up here. I live in Las Vegas,NV USA. and Las vegas has one of the worst housing markets in the entire country. Our street alone there is 9 out out about 17 houses that are for RENT.. since they could not sell them, and 2 houses are empty and just sitting there.

every street you drive down there is a few houses that have gone empty and no one bought up.. There's so many of them. It's terrible, and no one can afford to buy a house. NO one.

Our government here is just retarded. There's nothing good to come of how they are acting. Personally, The USA's Motor Vehicle division is struggling. the Big 3 have all been crying for help. and the main CEO's of GM, Ford, and Crysler all said they'd take a PENNY a week for pay if the government would bail them out for the auto bailout. what's sad is they have such BLOATED sallaries that they can afford to take no pay for the next 2 years and still be rich assholes. I personally think that the Government should have came up with a better plan. Agree'd to Bail out the Auto Industry if all the 3 main CEO's would step down. Then we could get someone in there to make "Good" decisions.. what are those.. I've never heard of those from a motor company.

we'll see how the new President will do. I think that obama Can do a good job, yes he's black. Oh well. I think he is a very very smart and intelligent person. We'll see how it goes.

We'll see.. lol!

great post sassofalco.......




SK

z3r010 said:

I've tried twice to type an answer to this thread, but both times it ended as a rant about the total incompetence of my government/Prime Minister who think the answer to recession is to throw my money at stupid schemes and let me pay for them for years to come


I will now issue myself with a warning for breaking the rules - seriously this thread is exempt, so fill your boots.

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We can have a long diatribe on this one, I stand shoulder to shoulder with anyone who have the same opinion.


Sassoflaco you are a true inspiration.

Very well written Sassofalco and so true, just like the saying, the rich get richer and the poor get poorer.


Be careful where you empty those boots

I think that statement is totally wrong, It should be "The rich get hammered on tax to pay for the poor to spit out more chav kids"

skunksmash said:

great post sassofalco.......
SK

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echrada said:

We can have a long diatribe on this one, I stand shoulder to shoulder with anyone who have the same opinion.
Sassoflaco you are a true inspiration.

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Joan Archer said:

Very well written Sassofalco and so true, just like the saying, the rich get richer and the poor get poorer.
Be careful where you empty those boots

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Thank-you One and All for your comment, but these really are trying times we are all living through. For the sake of my Father who endured the 1930s Depression, and for all our sakes, I sincerely hope that we don't have a repeat event.:huh:

As for the boots Joan, well I left them too long after taking them off, and the muck in them set....I'll just plant some miniature Rose bushes, that way I won't forget to stop for a moment and smell the flowers:D

z3r010 said:

I think that statement is totally wrong, It should be "The rich get hammered on tax to pay for the poor to spit out more chav kids"

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.........meanwhile, in this Country, an effort by the previous Federal Administration to boost the birthrate, resulted in a payment of a Baby Bonus to Parents of children who survived beyond 13 weeks.

$Aus5000 is paid for each child [multiple births = multiple payments] born to Parents whose combined annual income is $Aus75,000 or less. Plus DayCare subsidies, plus Child Support payments etc.etc.

Drawing a rather large long-bow, it could be implied that the Federal Government is in the business of buying Slaves for the Future Income Tax Market!!

Go figure!!

z3r010 said:

I think that statement is totally wrong, It should be "The rich get hammered on tax to pay for the poor to spit out more chav kids"

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Are you talking about yourself by any chance

Sassofalco,

Very well written and so true. I am normally a very poor consumer as I hardly ever buy anything, I do not really need. Last 6 months is an exception. I emptied my apartment, bought everything new, and still have some wallpaper and other things to buy. After this, probably nothing more like it in my life, but I must admit I enjoyed it. I was close to death once, learnt what was important, that life was the exception to be grateful for, and that one should not worry, whatever happens. Life is enough in itself and should be enjoyed. Nothing is healthier than sitting in a desolate place like on the top of a mountain, and realizing how small you are and how little you can do. If we get a depression, we get a depression, and there isn’t much we can do about it. If we shop, at least we are doing something. I refuse to worry.