 |
 |
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
|
|||
 |
|||
|
|||
 |
|||
|
Depression Dynamic Ensues as Markets Revisit 1930s
- Text size
Rich Miller
Bloomberg
March 9, 2009
The U.S. economy’s vital signs may not confirm a diagnosis of depression. The symptoms increasingly point to one.
- A d v e r t i s e m e n t
“We are tracking 1929-1930,” says Barry Eichengreen, a professor of economics and political science at the University of California, Berkeley.
The result: This contraction may leave a lasting imprint on the economy and society, just as the Depression did. In the wake of the devastation of the 1930s, Americans swore off stocks, husbanded their own resources and looked to the government for help. Now, another generation might draw some of the same lessons from the deepest economic collapse of their lifetime.
“This is going to scar the collective psyche,” says Mark Zandi, chief economist at Moody’s Economy.com in West Chester, Pennsylvania. “People will become much more conservative in borrowing, lending and investing.”
There’s no official definition of what qualifies as a depression. In the 1930s, the unemployment rate rose to 25 percent and the economy shrank by more than a quarter.
-
- Social bookmarks
- Email this article
-
- Print this page
- Share on Twitter
March 9th, 2009 at 2:04 pm
Dow to 5500 range late spring/early summer
Dow to 3850 before its over.
hahaha Reply:
March 9th, 2009 at 3:34 pm
Not fast enough. And not low enough, I want 500 by May.
WHITE MUSLIMMM Reply:
March 9th, 2009 at 4:20 pm
LOL 500!!! AND ITS SAD BECAUSE I KNOW YOURE RIGHT AND THATS A REAL POSSIBILITY!
hardboiledhammer1976 Reply:
March 9th, 2009 at 8:10 pm
unless you have reclaimed your Sovereign citizenship you have no rights, only 14 amendment privileges, which can be given or taken from the grantee without notice. If you have a birth certificate, drivers license,s.s.# card, or any other grant or privilege from the State, or Federal Government you are not a United States of America Citizen, you are United state Citizen Subject Slave, you have unknowingly exchanged your RIGHTS in Exchange for Privileges, which can be taken away at any time according to the law,which means no 2nd amendment rights, or any other for that matter, if you are born in the USA, you are a SOVEREIGN, and once issued a birth cirtificate are automatically a subject slave!! Please If you do not belive me then prove me wrong starting here…http://www.youtube.com/watch?v=W4HzbUGPFto
PLEASE RECLAIM YOUR SOVEREIGN CITIZENSHIP SO WE THE PEOPLE CAN PUT A STOP TO THE NWO IT IS THE ONLY WAY OTHER THEN REVOLUTION PLEASE DRAW THE LINE SO WE CAN ALL MAKE THE PUSH!!!!!!!
WHITE MUSLIMMM Reply:
March 9th, 2009 at 4:21 pm
I THINK THATS GOOD ESTIMATE, SLIGHTLY CONSERVATIVE IF ANYTHING
jblcva Reply:
March 10th, 2009 at 1:50 am
I have heard possibly3500.
March 9th, 2009 at 2:05 pm
Crash and Burn Bitches!
March 9th, 2009 at 2:17 pm
Spartanburg S.C police taser and beat people for just wanting to talk!!!!!!! county guys state guys and who ever the fuck the people are in the green uniforms!!!
Moe Death Reply:
March 9th, 2009 at 2:40 pm
Do you have a link for this info?
screw the fed Reply:
March 9th, 2009 at 2:48 pm
no just first hand experience!!!!!!
truth Reply:
March 9th, 2009 at 5:20 pm
Crossbows bows
crossbows
March 9th, 2009 at 2:19 pm
Be the Solution!
http://WWW.WARNTHEPEOPLE.ORG
March 9th, 2009 at 3:13 pm
Barney Frank oh shit
He’s been floating the idea of a Congressionally-mediated “Grand Bargain” between economic populists and free traders. The populists get federal subsidies for health care, an increase in the minimum wage, more freedom to create unions and better access to college loans. The free traders get, well, free trade.
Health care and free trade have long been debated as unrelated subjects, but like Lyndon Johnson — who in the fifties horse-traded Western dams for civil rights — Frank is attempting the impossible. He accepts that tariff-free borders are crucial to long-term economic growth, and that long-term economic growth is, in fact, good for everyone.
At the same time, he points out that economic dislocation is particularly hard on the ones being dislocated, and that perhaps a part of what voted the Democrats in this year is a general sense that even if the economy is doing well right now, we the people are not.
Is such a bargain even possible? Who has to give up what? Is there a such thing as
Damien Reply:
March 9th, 2009 at 4:44 pm
Such a bargain is definitely possible. We had sort of the same thing with FDR in the 30’s who implemented all types of progressive laws in the face of social upheaval in the US. He then favored expansion of war production for the coming US involvement in WWII.
We can definitely get things like universal health care, free tuition, etc. But it depends on the ongoing initiative and struggle from the masses of the population. We have to initiate this change. Once the politicians and the ruling class knows we mean business, they’ll hand down concessions. Hundreds of years of progressive reform in the US can obviously attest to this fact. But again, it depends on how far we mobilize. Maybe we can start by dropping the whole 9/11 truth shit and get into some real activism.
March 9th, 2009 at 3:16 pm
Banks to close for Holiday, Congress will let B of A & Citi fall Congress started this friday Head lines, Get you money,
March 9th, 2009 at 5:07 pm
“Regarding the Great Depression, you’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” – Federal Reserve Chairman Ben Bernanke
truth Reply:
March 9th, 2009 at 5:20 pm
Bernake is A BILDERBURGER
WAKE UP
March 9th, 2009 at 6:30 pm
Well the country did it to themselves. The idiots went for the god party and got screwed by religion yet again. the country gets the government it deserves!
tarp1
Religion is regarded by the common people as true,
by the wise as false, and by the rulers as USEFUL!
March 9th, 2009 at 6:33 pm
oo
March 10th, 2009 at 12:01 am
Look at how ill-informed American people are about the current situation, just check out this site and read some of the comments. They have no clue what’s coming. ……
http://www.newsvine.com/_quest.....?gt1=43001
March 10th, 2009 at 9:51 am
“In the wake of the devastation of the 1930s, Americans swore off stocks, husbanded their own resources and looked to the government for help”
Yeah, and that third choice was where they fucked up. Let’s not let that happen again.
March 10th, 2009 at 10:25 am
What has Bob Chapman been saying?If you are in any market trying to make a buck well good luck.
The market will take it all to feed the beast.
March 10th, 2009 at 2:35 pm
these are times of contraction; and it is that simple. Everything the government does to prolong this will make it continue. They are giving our money away to people that will happily convert it into Euros and flee to France.
March 10th, 2009 at 3:21 pm
This depression was initiated by the Federal Reserve currency crack that cause fake over production and mispricing of goods and services that now must be liquidated.
March 23rd, 2009 at 5:35 pm
International online pharmacy http://MyInternationalPharmacy.com