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Old 10-10-2008, 02:52 AM   #21
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Originally Posted by Gotadimple View Post
And inflation was running -25% with unemployment at a 25%. See this table in the article at the Schwab website entitled 10/8: Depression Fears Overblown.

At this link Depression Fears Overblown


I do not know if we are in a situation that compares to the great depression or not... But the Great Depression took a while to get GREAT! I am not sure if we have had time to really know yet what the full impact of this will be.

Of course this time we are having much more proactive government intervention (early). I have no doubt that if that did not occur, we would likely have massive business failure because of the credit crisis (money crunch).

It is looking like many companies will fail anyway. The crisis is creeping out of the financial industry into other industries right now.

I am a little worried that we could be at the beginning of a chain reaction that may not stabilize for a couple of years. and over that couple of years many many businesses could fail. Read much of your wealth (in stocks and bonds) could be wiped out permanently.
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Old 10-10-2008, 07:03 AM   #22
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....

I am a little worried that we could be at the beginning of a chain reaction that may not stabilize for a couple of years. and over that couple of years many many businesses could fail. Read much of your wealth (in stocks and bonds) could be wiped out permanently.
Perhaps that's why when I was a little kid the old folks who lived through the depression used to advise:

"buy land, boy, 'cause they ain't making any more of it"

(& they meant farm land).
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Old 10-10-2008, 08:34 AM   #23
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I do not know if we are in a situation that compares to the great depression or not... But the Great Depression took a while to get GREAT! I am not sure if we have had time to really know yet what the full impact of this will be.

Of course this time we are having much more proactive government intervention (early). I have no doubt that if that did not occur, we would likely have massive business failure because of the credit crisis (money crunch).

It is looking like many companies will fail anyway. The crisis is creeping out of the financial industry into other industries right now.

I am a little worried that we could be at the beginning of a chain reaction that may not stabilize for a couple of years. and over that couple of years many many businesses could fail. Read much of your wealth (in stocks and bonds) could be wiped out permanently.
part of the problem then was the gold standard, which is deflationary by design
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Old 10-10-2008, 08:38 AM   #24
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Perhaps that's why when I was a little kid the old folks who lived through the depression used to advise:

"buy land, boy, 'cause they ain't making any more of it"

(& they meant farm land).
I agree, but I interpreted it as water front.
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