Wednesday, May 16, 2007
K-cycle - is this more evidence???
Wheatworks: "Not Since the Great Depression”
If you do a Google search for the phrase “not since the Great Depression” you’ll get about 2,600 results.
Some good ones include:
NSTGD has there been such a gap between rents and mortgages
NSTGD has there been this wide a gap between the rich and the poor.
NSTGD has so much corporate debt been of such poor quality
NSTGD have so few people controlled most of the country’s wealth
NSTGD have Personal Outlays exceeded Disposable Personal income
NSTGD were interest rates been held so low
NSTGD has America been so broke.
Posted by sold 2 rent 1 @ 04:30 PM (250 views) Add Comment
10 Comments
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1. sold 2 rent 1 said...
And you know how I found the site?
You guessed it. By searching on "since the Great Depression"
2. Orwell said...
Mind you didn't the USA do only what the Gulper is doing now?
Rule 1: A great dose of Keynesianism (i.e. state spending for the sake of it).
Rule 2: Clampdown on union activity.
Rule 3: Greater observation of the citizen (nb McCarthyism there but here just more and more surveillance and petty regulatory laws).
Rule 4: A war and the preparation for it (i.e. also Keynesianism but in USA's case this beneiffted USA - in Iraq's case it benefitted yes - USA (oil companies and contract tenderers)).
3. harold said...
NSTGD has America been so broke? NEVER has America been so broke as it is NOW!
4. Planetmervyn said...
I, for one, am pleased that Gordon Brown will become PM. It is only fitting and just that he should be at the helm of SS Britannia when the inevitable recessionary/ depressionary iceberg hits and goes down with the shoddy ship that he helped build. Personally, I'd strap him to the mast just to make sure....
5. sold 2 rent 1 said...
harold,
You're right.
US Debt (all sectors) as a precentage of GDP in 1929 was 200%.
It rose to 270% by 1932 before crashing down to earth
Today the debt is 340% of GDP.
If the US has a stocks crash and goes into recession this figure could rise to 450% before crashing down to earch.
I think the long term debt levels between 1950 and 1980 averaged around 140% of GDP
Going from 450% to 140% is effectrively saying that 70% of all debt has to be destoyed.
This is worse than "crossing the streams" in Ghostbusters.
6. Scott said...
This is a very exciting time. I want to witness the destruction of the economy as we know it. Judgement day awaits.
7. talking rot said...
This is worrying. There have been many international groups who have predicted the downfall of capitalism; typically Middle East fanatical clerics. While I agree on their view of our moral bankruptcy I have never believed them ... until now. The excesses of our political debt, financial debt and social debt are coming to haunt us - the books can only be cooked for so long before the smell of burned paper drifts around the Investment House.
Mind you, I prefer our disasterious life to that face by the millions who have to live under the Middle East fanatical clerics.
I'm a bit gloomy today.
8. holding out said...
It's worse than crossing the streams. But not as bad as "disrupting the space-time continuum" or living under sharia law.
9. dohousescrashinthewoods said...
Holding out - I like the way you flirt with politically- correct-death.
(Tangent: There is a theory (a-la-1984-newspeak) that political correctness is a form of "mind control". It's called the Whorfian Hypothesis (http://en.wikipedia.org/wiki/Sapir-Whorf_hypothesis). It runs along the lines that if you constrain or alter language, you can alter the way people think. I personally try to volate it as often as I possibly can but hopefully not at the expense of common-sense respect)
On-topic: feels like Coyote is well off the cliff but still running. Feel a bit of a twit thinking there will be a "great flood" when we are patently sitting in a sunny desert, but hey, Noah did all right in the end.
10. sold 2 rent 1 said...
TR,
"There have been many international groups who have predicted the downfall of capitalism"
Kondratieff was hired by Stalin in 1926 to prove that capitalism was flawed.
He forecast there would be a depression but capitalism would still survive.
In 1938 his was executed (for being correct).
Next year (2008) will be the 70th year of his death.
70 years is also the length of the current K-cycle. How ironic.
By the end of 2008 the mainstream press will be writing about Kondratieff.
By 2010 his theory will be widely known (and as not understood) as Einstein's