Great Depression of 2016

[hemet dennis]

DW, have you looked at Midway, Wake and Johnston Island on Google Earth lately. They are abandoned except for a few people left to care for the wildlife. Then look at Woody Island. The Chinese have extended the runway into the sea. It looks like a stationary aircraft carrier. Lots of radar and missiles. They have just designated it a municipality.

The island belonged to the South Vietnamese until the end of the war. The Chinese seized.

People in Guam beware.

Didn't Guam tip over and sink ?

 

[Dwkuska]

The US might take on some Middle Eastern dictator, but when faced with the possibility of an all out nuclear war, they will back down. Sad to say, but South Korea, Japan, the Philippines and Nationalist China will have to stand on their own.

If you think the Chinese are willing to use Nukes you dont give them enough credit. At any given time the US has 260 Nuclear equipped I.C.B.M's loaded and ready to launch. China (like the US) isnt crazy enough to think that killing everything on the planet is better then losing face. Now N. Korea on the other hand... he might be willing.

Ah, but I digress.. we have strayed off-topic!

 

[rufus]

Yes we have. But remember it only takes one nutcase in the right place to start a chain reaction. World War I was started by one assassination. We are playing a vary dangerous game now.

 

[rufus]

This takes an hour to listen to, but it might be worth it to some people. I would be interested in other people's ideas about it.

 

[Dwkuska]

a depression is a depression. I think this guy hitting on our debt problem is a good indicator but he isnt very helpful in that he doesnt propose any ideas on how to solve the problem or avert crisis. "If your not offering solutions, your part of the problem."

 

[rufus]

Yes, he doesn't have an answer, but then again I don't either. It is almost like I have my foot stuck in the railroad track and the freight train is bearing down on me. Some things he says are really disturbing but true.

The country's debt is horrendous, and the only way out if it is a massive inflation. And that will not make our creditors happy, nor will it make US citizens happy. We will see a rapidly falling standard of living. When the currency is worthless, the rich and the poor will be equal. What a way to achieve income equality!

When Mexico went through its debt crisis, they lopped a bunch of zeros off of the peso. I had a ten thousand peso note that my mother had used as a bookmark and then forgot it. By the time I found it, it wouldn't buy a coloring book for the kids.

People went for what seemed months and years without eating meat. Some business people of the upper class were only saved by dollar loans from family living north of the border.

A debtors' union was established. Fidel Castro said that the country should default on its debt. In the end, the IMF made some big loans and the system was righted.

I don't see that happening for us.

 

[rufus]

This explains a bit of how the Latin American debt crisis went down. http://en.wikipedia.org/wiki/Latin_American_debt_crisis

Hind sight is a great thing. Everything is so clear looking backward. In 1981, I gave my wife's uncle a ride to his bank in Guadalajara. When we got there, they were offering great rates on dollar deposits. It would be compounded weekly. Her uncle convinced me to open an account; luckily, I only had $400 on me at the time. Of course they could afford to offer a good deal; they knew they would never pay me. I was so unaware of the economic situation, I opened the account. A fool and his money are soon parted.

About a week later, my brother called me to let me know that all dollar accounts were frozen. That account is still frozen.

The kids say I should have bought Microsoft instead.

 

[frenchblackcopper]

On CNN I think,once again tonight is the show Great Depression of 2016,,,I watched it a few weeks ago,and don't know if it's an ongoing show,or a repeat but reality is very scary and we don't seem to have learned much from decades ago.Thanks to our elected officials for raising the debt ceiling so high,it cannot be seen. I still say those of us whom still have the handed down skills of growing our own food will come out on top when this occurs. I would lay odds that 95% of city dwellers do not know how to cut up a whole chicken into 8 equal pieces. Let alone raising them for food themselves.My grandparents went thru the Great Depression and bought the family farm during that time.$474 is what my grandparents had to pay per acre from 3 brothers and sisters to buy out the 75% my grandfather did not inherit or about 60acres worth and they paid it off early.The stock market is riding sky high knowing full well the shape of the deficet can stuble at anytime,and start a downward spiral.Our economy sucks. Foreign trade sucks. The value of our dollar sucks.Our politicians in office who does so little while in office to better the situation,,,sucks!! A big CORRECTION is past due,,and you can bet it will happen,it has to.

 

[rufus]

Yes, the peasants are always the last to starve and the last to be purged. Society needs them.

I am afraid those that can produce food will be victimized by those who cannot or will not feed themselves.

Income re distribution. Correcting income inequality. Expect to hear more of this rhetoric in the next couple of years.

 

[Dwkuska]

Yes, the peasants are always the last to starve and the last to be purged. Society needs them.

I am afraid those that can produce food will be victimized by those who cannot or will not feed themselves.

Income re distribution. Correcting income inequality. Expect to hear more of this rhetoric in the next couple of years.

Luckily I would bet most of those who know how to work the land would qualify Expert at the shooting range. God bless rednecks with nothing better to do then shoot beer cans!

Income re-distribution is a scary rhetoric to hear in the US. Its a rhetoric that smells of socialism(as communism is impossible and has never been achieved). Well on the bright side we wont need border patrol as everyone will be leaving. I also suspect if a collapse happens and martial law is declared abortion and contraceptives will become illegal. Martial law sucks!