Are we headed for another Great Depression?

Is it that bad?
USA should also join with the majority of the human BEING
Am I sound illegitmate/ illegal/ignorant?
If yes
I wish you all the best

BBB
If you didn't watch the Charlie Rose program last night, Tuesday 3/18? If not, you can catch it today on the rebroadcast.

http://www.charlierose.com/shows/2008/03/18/1/a-discussion-about-the-economy-with-paul-volcker

Volcker is calling for more regulation of the non-banking financial corporations. These greedy cowboy financiers need reigning in NOW!

BBB

BBB
There is a better chance of me becoming president than either the democrats or republicans reigning in big business. Too many bought politicians. The only way we will ever gain control of government is through a grass roots movement. The pols are takeing care of that by restricting our ability to get petitions on the ballot. In Illinois it takes big bucks to get any petition on the ballot.

Both parties colluded with the corporate class and the wealthy individuals to do whatever it took to grow the economy. all concerned required a significant growth rate to survive (politicians) and satisfy their greed (corporate class and the wealthy). However, what was grown was unsustainable, and increasingly the attempt to sustain growth lead to a completely irrational destruction of the foundations of market capitalism....trust in the market place, transparency, deals made on economic rationals not secret deals or all inclusive long term contracts, sound financial instruments to work with.

Is this when the scheme collapses???maybe, I'd put the odds around 50/50. With in ten years is almost a sure thing. Most of us will live long enough to experience profound economic depression.

BBB
I was born in 1929 and was not too young to remember how difficult it was for our family.

I propose that we start calling Bush "George Hoover Bush."

BBB

The possibilities are high. There has never been so much money thrown at an economic situation as this. What is being held out? The 5th largest bank, yes, bank that was selling for $80 a share last November was supported by the Fed w/ $billions and then, and then and tttthen bought outright for $2 dollar a share ~ 5th largest bank. What were we told afterwards, this might not be all!

Re: BBB


Bush is widely being compared with Hoover. The same incompetence, the same tone deafness, the same failure to recognize problems after they become clearly obvious.

My grandparents went to the grave ten years ago convinced that we were in the process of setting up the next depression. They were born around 1910, they remembered the run up and the bad years well. They said that they were seeing the same attitudes all over again, the same foolishness.

Well, we are certainly headed for a big economic shake up and for most people it's going to be a bumpy ride. I get a farming newsletter and last year it predicted gas would be $4 a gallon by this summer, apparently they were correct. My most recent issue talked about the price of wheat doubling, which means my loaf of organic bread is going to go from 3.99 to about $8. Maybe it will be like Germany in the early 1920's when you literally need a wheelbarrow full of money to buy some pumpernickel. I guess Bush figures this will never happen because today people could use their credit card- or maybe just eat cake.

Green Witch
Green Witch, George Hoover Bush doesn't care about anything except holding things together until his term ends.

BBB