Great Depression of 2016

[rufus]

God only knows how it will all come down. The feds bought all of those bullets, and I bet those red necks will be using sling shots because the feds took all of their weapons. I fear the US government more than I fear Al Caida.

 

[Dwkuska]

God only knows how it will all come down. The feds bought all of those bullets, and I bet those red necks will be using sling shots because the feds took all of their weapons. I fear the US government more than I fear Al Caida.

Luckily for you and I the govt. cant hit the broad side of barn. Last I checked the US had 370 million people I dont think they have enough bullets. I hate to say it but I kinda look forward to a great depression. I am curious how people will react, and what measures the govt will take to re-stabalize. I would like to think the US will not get broken up and auctioned off to pay its foreign debts but stranger things have happened.

 

[newfoundland]

I think some people may be worrying too much about this. Your economy is in very bad shape and so is ours. What we spend far exceeds what we earn, and this is on both a national and personal level. There is a solution to this, of course there is. As individuals we do it all the time, namely cutting down our outgoings and paying off loans as fast as possible. We all agree with that but, there is dispute and division as to what the cutbacks should be. That is bound to happen because one person's priority is another's luxury.

We MUST accept though that we will have declining living standards. We have certainly seen this over the last 2-3 years. These is less money in the pot so many savings have had to be made in the budgets that for example are set aside for libraries, council building projects, social care etc. Some essential services of course are ring fenced so their budgets are protected, but many have been savagely slashed. Many libraries are been kept open by volunteers for example. Communities have come together to take over the gardening and tidying of the environment previously done by council employees.

The hardest thing for people to accept is their personal decline in fortunes. While costs keep rising, incomes stay very static with maybe a 1% increase a year. During the same year, gas and electricity prices have risin by 15%. Transport cost have also risen by a similar amount so spare income has been eaten into and now, many families have no more slack in the system. We cut down on heating, food and go to cheaper shops, make do and mend and it is depressing at times, but, we get buy. One day, the economy will improve and things will look up again. All I can say to people is take heart.

 

[Dwkuska]

I think some people may be worrying too much about this. Your economy is in very bad shape and so is ours. What we spend far exceeds what we earn, and this is on both a national and personal level. There is a solution to this, of course there is. As individuals we do it all the time, namely cutting down our outgoings and paying off loans as fast as possible. We all agree with that but, there is dispute and division as to what the cutbacks should be. That is bound to happen because one person's priority is another's luxury.

We MUST accept though that we will have declining living standards. We have certainly seen this over the last 2-3 years. These is less money in the pot so many savings have had to be made in the budgets that for example are set aside for libraries, council building projects, social care etc. Some essential services of course are ring fenced so their budgets are protected, but many have been savagely slashed. Many libraries are been kept open by volunteers for example. Communities have come together to take over the gardening and tidying of the environment previously done by council employees.

The hardest thing for people to accept is their personal decline in fortunes. While costs keep rising, incomes stay very static with maybe a 1% increase a year. During the same year, gas and electricity prices have risin by 15%. Transport cost have also risen by a similar amount so spare income has been eaten into and now, many families have no more slack in the system. We cut down on heating, food and go to cheaper shops, make do and mend and it is depressing at times, but, we get buy. One day, the economy will improve and things will look up again. All I can say to people is take heart.

I agree with you to a point. The US debt is now so monolithic draconian measures would be needed just to get us out of the red(not even breaking even, let alone paying down the debt) With the vast majority of Americans on some form of entitlement program such cuts would in effect cripple half of the US residents. Our minimum wage has not even tried to keep up with inflation or cost of living. I agree the US economy WILL improve eventually however I suspect it will become almost non existant before that happens. You know what they say... "You have to hit bottom before you can make it to the top"

 

[newfoundland]

We've done it before though, through two world wars and the great depression in between. We survived it then and we will again. It may be that we see lower living standards for some years yet. We just have to make the best of it I think. When I remember the stories of poverty my own family have told me, I sometimes feel ashamed that we consider ourselves hard done by. How brave and optimistic the old ones were despite all the hardships. We may have to go back to the old cottager ways of raising poultry and rabbits for meat, and growing as much as we can. We may have to darn socks and turn shirt collars and cuffs again like out mums and grandmas did. Even the advertisements on the TV here now extol the virtue of buying a chicken and getting 3 meals for 4 people from it. believe me, in the fullness of time, being frugal will be the desirable life choice.

 

[Dwkuska]

We've done it before though, through two world wars and the great depression in between. We survived it then and we will again. It may be that we see lower living standards for some years yet. We just have to make the best of it I think. When I remember the stories of poverty my own family have told me, I sometimes feel ashamed that we consider ourselves hard done by. How brave and optimistic the old ones were despite all the hardships. We may have to go back to the old cottager ways of raising poultry and rabbits for meat, and growing as much as we can. We may have to darn socks and turn shirt collars and cuffs again like out mums and grandmas did. Even the advertisements on the TV here now extol the virtue of buying a chicken and getting 3 meals for 4 people from it. believe me, in the fullness of time, being frugal will be the desirable life choice.

The problem with comparing the last Great Depression with the possible future depression is the massive amounts of people on entitlements as well as crushing national debt. IF another depression takes place in the next few years the American people will not fare so well. Look how dependant we have become on technology. We have become a society of instant gratification as well as a society that goes out to be with friends or family only to stare at their cellphones. I personally beleive Y2K would have been the best thing that ever happened to the US. Time will tell though...

On a side note: I find it interesting how people say war is what is killing the US economy when it is war that made the US what it is today, and War that brought us out of the Great Depression. Food for thought.

 

[rebelcowboysnb]

On a side note: I find it interesting how people say war is what is killing the US economy when it is war that made the US what it is today, and War that brought us out of the Great Depression. Food for thought.

Our government had the bank roll back then. The war sent a large part of the population out of country opening up jobs for those still here while at the same time factories were opened up to supply the war, those made more jobs.

Todays wars have not done much of any of that. Relatively few people left the country an very few jobs were created. An our bank roll is gone.

 

[Dwkuska]

Todays wars have not done much of any of that. Relatively few people left the country an very few jobs were created. An our bank roll is gone.

I dont think we have had anything except IOU's since the 80s lol

 

[hemet dennis]

Quote:
Wasn't WW 2 financed by I.O.U.'s ?

How many people think we ever paid that off ?

 

[rebelcowboysnb]

Wasn't WW 2 financed by I.O.U.'s ?

How many people think we ever paid that off ?

One an two were an I don't think we ever got completely out of debt from ether but everyone was payed on time. Didn't we have people that had to wait for tax returns the last few years cause we didn't have the money to pay everyone all at once?