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What could this depression look like? Look back 135 years

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  • Sat, Nov 29, 2008 - 12:06am

    #1

    Damnthematrix

    Status Diamond Member (Offline)

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    What could this depression look like? Look back 135 years

From Energy Resources Yahoo Group……

This is really, REALLY good. I am going to have to print
this out, read and re-read it. The hidden message is that whether we
have a gold backed currency or a fiat one, the results are the same –
just a few more zeros added on the defaulting mess. The underlying
misery is the same.

Now we must look at the results of the 1873/77 depression with
rioting, Molly MacGuires and the like and what happens here in our
era. On another site I look at, I am seeing stories that food banks
are simply not able to cope with demand. With high prices, grocery
chains are not ordering the quantities they used to which means that
there is considerably less for the food banks at the end of the day.
Ditto for corporate contributions.

If there are also additional people looking for food (a reasonable
assumption) then we do the math and find that three into two don’t
go (as my old grade school teacher used to say). We have hungry
people who may be jobless and that is not a good combination at all.
Massive rioting in the already tense inner cities becomes a decent
possibility. All it needs is a spark a la Rodney King in LA in 1992.

I received a letter on this subject from someone in Idaho I know.
There the situation is bad with break-ins into churches looking for
food stores. Routine jobs which come into being (ie janitor) are met
with 150 applications – that sort of thing.

In terms of energy/crude, we can say that if we break $40-45 on the
downside then the depression scenario assumes a hugely increased
probabilty as the collapse of demand for this vital commodity will
have repercussions throughout the economy. This may be the price you
have to watch to see how the overall health of the US economy is
faring.

http://smarteconomy.typepad.com/smart_economy/2008/11/what-could-this-depression
-look-like-look-back-135-years.html

  • Sat, Nov 29, 2008 - 12:26am

    #2

    pinecarr

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    Re: What could this depression look like? Look back 135 …

Wow, Damnthematrix, great article!  Very eerie.

  • Sat, Nov 29, 2008 - 01:19am

    #3

    Ray Hewitt

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    Posts: 277

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    Re: What could this depression look like? Look back 135 …

I think that’s a reasonable assessment about how bad it will get here. The lesson is that you don’t want to be an ordinary American.

  • Sat, Nov 29, 2008 - 01:31am

    #4

    mainecooncat

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    Re: What could this depression look like? Look back 135 …

Are you an ordinary American, hewittr?

  • Sat, Nov 29, 2008 - 01:50am

    #5
    capesurvivor

    capesurvivor

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    Re: What could this depression look like? Look back 135 …

Most people reading this site are, by definition, not ordinary Americans. We are thinking about possibilities/probabilities that are not mainstream fodder. We’re not better than other folks, just becoming better informed and more future-oriented. I don’t think the folks on this site are going to solve the Big Problems and I am more pessimistic than Chris about attempts to do so but I am interested in reading others’ opinions about the unfolding mess(es) and how they are planning for them in their individual or collective ways.

 

SG

  • Sat, Nov 29, 2008 - 01:56am

    #6

    Ray Hewitt

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    Re: What could this depression look like? Look back 135 …

Cooncat

If you read the article, it referred to the deprivation of ordinary Americans. I’ve taken actions to make sure it is not me and my immediate family. My thinking is outside mainstream thinking. So in that way too I don’t consider myself ordinary. My lifestyle is fairly ordinary.

  • Sat, Nov 29, 2008 - 06:56am

    #7

    ckessel

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    Re: What could this depression look like? Look back 135 …

[quote=hewittr]

Cooncat

If you read the article, it referred to the deprivation of ordinary Americans. I’ve taken actions to make sure it is not me and my immediate family. My thinking is outside mainstream thinking. So in that way too I don’t consider myself ordinary. My lifestyle is fairly ordinary.

[/quote]

So are you one of the CEO’s that bailed out of the stockmarket before it crashed, grabbed a golden parachute and invested in bluejeans and an old car? 

  • Sat, Nov 29, 2008 - 09:10pm

    #8
    FNKRoue

    FNKRoue

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    Re: What could this depression look like? Look back 135 …

great read

  • Sat, Nov 29, 2008 - 09:31pm

    #9

    Ray Hewitt

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    Re: What could this depression look like? Look back 135 …

So are you one of the CEO’s that bailed out of the stockmarket before
it crashed, grabbed a golden parachute and invested in bluejeans and an
old car?

That can’t be a serious question.

I saw 401Ks as a trap when they were first intoduced. I lost interest in stocks in the early 70s. I was warning friends of the risk in buying real estate in the late 90s and they scoffed at me. Every time I mentioned gold and silver, I got a blank stare. I do wear jeans regularly and my car is eight years old. That Toyota still drives and looks like it was new. My golden parachute is made from real gold.

  • Sat, Nov 29, 2008 - 11:37pm

    #10

    krogoth

    Status Platinum Member (Offline)

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    A boomer identified

Oh so that explains so much. Your a boomer! That’s funny, I made money off of real estate in the late 90’s and in 2005, right before things got bad. You lost interest in stocks in the early 70’s? Wow, you missed just about every possible positive time in market history to make something for yourself with smart investing. Now your turning to Gold and Silver. If we follow your patterns of wisdom, then we should not be buying Gold and Silver, correct? Must be pretty scary with retirement being so close or you are already retired.

Well you reap what you sow. My guess is your reaping pretty hard right about now.

 

 

 

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