View Full Version : worse than the 1930's
dvtimes
02-09-09, 09:36 PM
Its now been reported that things will be worse than the 1930's (http://news.bbc.co.uk/1/hi/uk_politics/7880189.stm?lss).
Itsd going to be a looooong year or so.
Its now been reported that things will be worse than the 1930's (http://news.bbc.co.uk/1/hi/uk_politics/7880189.stm?lss).
Itsd going to be a looooong year or so.
some in the alternative media have been saying this for a while mate, maybe you should read those instead of the bbc, its all government lead propaganda anyway.
Its now been reported that things will be worse than the 1930's (http://news.bbc.co.uk/1/hi/uk_politics/7880189.stm?lss).
Itsd going to be a looooong year or so.
Why dont you try and live like they did in the 1930's, they didn't have the internet then. :reading:
Give me some reasons why 2009 will be worse than the 1930's?
smoothballs
02-10-09, 08:46 PM
anyone got 1930's porn just to say, hey it wasn't all bad in the depression!
Its now been reported that things will be worse than the 1930's (http://news.bbc.co.uk/1/hi/uk_politics/7880189.stm?lss).
Itsd going to be a looooong year or so.
Hewas talking about Yorkshire. It's worse there than the 1930's already so no supprise :reading:
what makes me mad is the bankers that got us in this mess now taking bonuses from public money
smoothballs
02-10-09, 09:39 PM
what a effecient world it would be if banking was run by the porn world!
come to think of it, as most well known high street banks made their fortunes from the slave trade, have we yet to see a bank make it to the high st from the internet bubble alone? don't think we have....then again...I'm thinking payment processors is what we have... not a bank per se....maybe oneday all those processors will join up as one, if they haven't already!
dvtimes
02-10-09, 09:59 PM
what makes me mad is the bankers that got us in this mess now taking bonuses from public money
i felt sorry for them today as they were upset and said orry to us.
I think they should get even bigger bonuses for that.
what makes me mad is the bankers that got us in this mess now taking bonuses from public money
Why does that make you mad? What did you think they were going to do with free money?
what a effecient world it would be if banking was run by the porn world!
You must be joking? Most come into porn because they fail at everythigng else then a load of them even fail at porn. lol
You must be joking? Most come into porn because they fail at everythigng else then a load of them even fail at porn. lol
And some use their experience in the Porn world as a springboard into other ventures :P
And some use their experience in the Porn world as a springboard into other ventures :P
I think most have been doing that from day one. Porn is a time and a place to make a lot of money but it's certainly not a long term career.
This was always going to result in a Depression, you just can't come straight out and tell the public that because they would panic.
First
No Recession
Recession
Deep Recession
Depression
Think of 2009 as 1931, in the 1930s things didn't get really bad until 1933
smoothballs
02-12-09, 07:00 PM
This was always going to result in a Depression, you just can't come straight out and tell the public that because they would panic.
First
No Recession
Recession
Deep Recession
Depression
Think of 2009 as 1931, in the 1930s things didn't get really bad until 1933
just as long as we don't get a 1939.....
smoothballs
02-12-09, 07:01 PM
You must be joking? Most come into porn because they fail at everythigng else then a load of them even fail at porn. lol
I was pissed last night! lol
This was always going to result in a Depression, you just can't come straight out and tell the public that because they would panic.
First
No Recession
Recession
Deep Recession
Depression
Think of 2009 as 1931, in the 1930s things didn't get really bad until 1933
It won't result in a depression, a recession yes. The structure of the global financial system is fundamentally sound, it just needs to return to a level that instills confidence in public in each respective country and that will happen. Gov's are able to make more direct investment into public projects much quicker than in the 30's thus creating jobs to offset the rising redundancies and now in 2009 there are welfare systems in place that weren't in place in the 30's. There some comparisons with the 1930's, Joe Kennedy, the illegal bootlegger and profiteer from the 29' crash, appointed first Chairman of the SEC and Sir James Crosby the former Chief Exec of HBOS who presided over culture of greed at the bank and then became the Deputy Chairman of the FSA. People in the 30's borrowed to play the markets and in the past few years people have borrowed against an asset that they thought could only rise and never fall, their homes.I think you can only make one direct correllation between the 30's and now and that is the greed factor. This is just my opinion. People say recession I prefer to refer to the current economic climate as one of recovery albeit in its very early stages.
It won't result in a depression, a recession yes. The structure of the global financial system is fundamentally sound, it just needs to return to a level that instills confidence in public in each respective country and that will happen.
I guess we'll have to agree to disagree :) Would you mind being more specific about the global financial system being fundamentally sound?
My gut is telling me we are headed for a depression. We are witnessing a once in a lifetime event right now. The credit crunch was the start of the bursting of the biggest credit bubble in recent history
http://www.freeimagehosting.net/uploads/15713dbc3f.gif
I don't agree that the the global financial system is sound, the western banking system is insolvent. If it wasn't for the central banks bailing out the banks we would have had bank runs like in the 1930s.
The shadow banking system has already unravelled. The very methods of credit creation through MBS & Derivatives that the banks relied on are gone, this is why nearly every asset class is deflating
You only have to look at the data coming out of Asian to see that industrial output has fallen off a cliff! Not surprising considering the West is maxed out in debt and can no longer continue to purchase Eastern goods.
Have a read about what is going on in Japan right now
http://www.rgemonitor.com/asia-monitor/255385/veneroso_japan_on_the_edge_of_the_abyss
Just a few points from the link
1)The Japanese industrial production data and METI forecast was bad beyond all imagining. Industrial production might fall by 1/3 in the 12 months ending in January. It could fall in a mere four months between November and February by more than half the U.S. Great Depression decline which took almost four years.
2) Nothing like this has ever happened to a major industrial nation to my knowledge not even during the 1929 1933 Great Contraction.
ITS A DEPRESSION IN JAPAN ALREADY PURE AND SIMPLE.
Gov's are able to make more direct investment into public projects much quicker than in the 30's thus creating jobs to offset the rising redundancies and now in 2009 there are welfare systems in place that weren't in place in the 30's.
Fair point about the welfare but remember someone has to pay for these public investments. Whether the government increase taxes in the further or print the money the public will pay for increased borrowing through one of the other. So public spending is no easy fix.
There some comparisons with the 1930's, Joe Kennedy, the illegal bootlegger and profiteer from the 29' crash, appointed first Chairman of the SEC and Sir James Crosby the former Chief Exec of HBOS who presided over culture of greed at the bank and then became the Deputy Chairman of the FSA. People in the 30's borrowed to play the markets and in the past few years people have borrowed against an asset that they thought could only rise and never fall, their homes.I think you can only make one direct correllation between the 30's and now and that is the greed factor
No real surprise that yet again the bankers caused this mess and have made a fortune out of the chaos. That's rigged capitalism for ya!
BTW I think this current situation is more like the 1860's crash then the 1930s crash.
You are right though, greed caused this mess but I disagree that it's the only factor this whole thing has in common.
This is just my opinion. People say recession I prefer to refer to the current economic climate as one of recovery albeit in its very early stages.
Well one thing is for sure, we'll know where we are headed during the next 2 years. I hope to god you are right and I am wrong
I'll leave you with this thought, 1866 was the last recorded bank run in the UK
http://real-estate-net.blogspot.com/2007/09/anatomy-of-british-bank-run.html
Whenever the entire banking system is insolvent you do not get a recession, just my opinion of coarse.
I guess we'll have to agree to disagree :) Would you mind being more specific about the global financial system being fundamentally sound?
My gut is telling me we are headed for a depression. We are witnessing a once in a lifetime event right now. The credit crunch was the start of the bursting of the biggest credit bubble in recent history
http://www.freeimagehosting.net/uploads/15713dbc3f.gif
I don't agree that the the global financial system is sound, the western banking system is insolvent. If it wasn't for the central banks bailing out the banks we would have had bank runs like in the 1930s.
The shadow banking system has already unravelled. The very methods of credit creation through MBS & Derivatives that the banks relied on are gone, this is why nearly every asset class is deflating
You only have to look at the data coming out of Asian to see that industrial output has fallen off a cliff! Not surprising considering the West is maxed out in debt and can no longer continue to purchase Eastern goods.
Have a read about what is going on in Japan right now
http://www.rgemonitor.com/asia-monitor/255385/veneroso_japan_on_the_edge_of_the_abyss
Just a few points from the link
Fair point about the welfare but remember someone has to pay for these public investments. Whether the government increase taxes in the further or print the money the public will pay for increased borrowing through one of the other. So public spending is no easy fix.
No real surprise that yet again the bankers caused this mess and have made a fortune out of the chaos. That's rigged capitalism for ya!
BTW I think this current situation is more like the 1860's crash then the 1930s crash.
You are right though, greed caused this mess but I disagree that it's the only factor this whole thing has in common.
Well one thing is for sure, we'll know where we are headed during the next 2 years. I hope to god you are right and I am wrong
I'll leave you with this thought, 1866 was the last recorded bank run in the UK
http://real-estate-net.blogspot.com/2007/09/anatomy-of-british-bank-run.html
Whenever the entire banking system is insolvent you do not get a recession, just my opinion of coarse.
I will go and read the links you provided and reply.:)
The List: The Next Iceland (http://www.foreignpolicy.com/story/cms.php?story_id=4648)
an interesting thought i had shared with me the other day: would it be wrong to let banks go bust and instead use the money meant to save them for starting up new bank(s) with less of a bad history?
politicians didn't cause the current mess, which is the major reason why they run around like headless chickens not getting anywhere. on a near daily basis they whip out a new flag, raise it and wait whether someone will salute it. a freak show, putting on an improvised show using a rather repetiticve story line: 'somehow it will go on, somewhere there is the one political tool that will solve it all, we just have to find it.'
meanwhile everyone sits ans watches. creepy in some ways.
all the money pumped into crashing banks and markets should by now have made a tiny lasting difference at least, when in fact nothing happened. end of capitalism as we know it? 2009 will be an interesting year.
The List: The Next Iceland (http://www.foreignpolicy.com/story/cms.php?story_id=4648)
an interesting thought i had shared with me the other day: would it be wrong to let banks go bust and instead use the money meant to save them for starting up new bank(s) with less of a bad history?
politicians didn't cause the current mess, which is the major reason why they run around like headless chickens not getting anywhere. on a near daily basis they whip out a new flag, raise it and wait whether someone will salute it. a freak show, putting on an improvised show using a rather repetiticve story line: 'somehow it will go on, somewhere there is the one political tool that will solve it all, we just have to find it.'
meanwhile everyone sits ans watches. creepy in some ways.
all the money pumped into crashing banks and markets should by now have made a tiny lasting difference at least, when in fact nothing happened. end of capitalism as we know it? 2009 will be an interesting year.
The US is talking of creating a bank that can hold all the toxic debt and also put in place a system of help for those with sub-prime mortgages so they can meet their commitments.Shrewed move or political suicide?
Lativia, Greece, the Ukraine and Nicaragua are fucked, apparently:reading:
I did lol at Reykjavik-on-Thames. Instead of the media talking about an impending depression why not talk about halting the recession and the road to recovery.......no they daren't as that won't sell papers.
The US is talking of creating a bank that can hold all the toxic debt and also put in place a system of help for those with sub-prime mortgages so they can meet their commitments.Shrewed move or political suicide?
those 'bad banks' are being discussed in several countries. the only ones that could sort of afford it are the germans, i'd have guessed.
those 'bad banks' are being discussed in several countries. the only ones that could sort of afford it are the germans, i'd have guessed.
or adultbusiness or SB.....but seriously I think they are a good idea.
There are far too many factors to get an angle on all of this but I have learnt something new from coatsy links and yours as well...of course.
While im unsure if we will end up with deep recession or depression I tend to agree with Coasty on this one, and offer this blog as some additional reading http://www.marketskeptics.com
or adultbusiness or SB.....but seriously I think they are a good idea.
There are far too many factors to get an angle on all of this but I have learnt something new from coatsy links and yours as well...of course.
I'm glad you learnt something new PSL :) You're more than welcome
While im unsure if we will end up with deep recession or depression I tend to agree with Coasty on this one, and offer this blog as some additional reading http://www.marketskeptics.com
I think I'll check out that link TDF, looks interesting. Also I totally agree with your point about not going to official websites like the BBC for your news. You're just not going to get the truth about what is going on right now
That article on the US dollar is very interesting.
http://www.marketskeptics.com/2009/01/ten-major-threats-facing-dollar.html
PSL if you're genuinely interested in learning and understanding what is going on currently economically I'd seriously recommend
http://www.housepricecrash.co.uk/forum
I know what you're thinkin (that site's clearly about a house price crash)
Lets just say that is what the site started as, over the past year the forum has evolved and most discussions are about the economy.
If you read the threads on that site for a few months you'll have an excellent understanding of what is going on currently.
Also if you're interested you can read about just how close we came to a complete banking collapse on October 10 2008
http://www.dailymail.co.uk/news/article-1127278/Revealed-Day-banks-just-hours-collapse.html
Johnny Kleenexxx
02-14-09, 10:32 AM
still plenty of people who wouldnt even know there was a crisis
if it weren't for the incessant media doom & gloom reporting..
imo many have yet to feel this depression personally in their wallets,
and even when they do, most will never experience the same levels
of poverty & hardship synonymous with the 30's great depression..
a depression may lose you your job . . but it won't stop a Chav's giro,
those at the bottom of society will feel this depression less than they
would have done back in the 30's because of basic Social Security,
its more a case of the "had lots" that are now becoming "have less"
I'm glad you learnt something new PSL :) You're more than welcome
I think I'll check out that link TDF, looks interesting. Also I totally agree with your point about not going to official websites like the BBC for your news. You're just not going to get the truth about what is going on right now
That article on the US dollar is very interesting.
http://www.marketskeptics.com/2009/01/ten-major-threats-facing-dollar.html
PSL if you're genuinely interested in learning and understanding what is going on currently economically I'd seriously recommend
http://www.housepricecrash.co.uk/forum
I know what you're thinkin (that site's clearly about a house price crash)
Lets just say that is what the site started as, over the past year the forum has evolved and most discussions are about the economy.
If you read the threads on that site for a few months you'll have an excellent understanding of what is going on currently.
Also if you're interested you can read about just how close we came to a complete banking collapse on October 10 2008
http://www.dailymail.co.uk/news/article-1127278/Revealed-Day-banks-just-hours-collapse.html
Looks like a Sunday of reading:) cheers guys.
The house price crash site I have been to a couple of times but more for the property info for another business rather than the economy debating forum it has become.
Also if you're interested you can read about just how close we came to a complete banking collapse on October 10 2008
http://www.dailymail.co.uk/news/article-1127278/Revealed-Day-banks-just-hours-collapse.html
Daily mail "we have learned" & "we heard" proganda at best, but mainly just shit dressed up as news
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