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Just Like 1929, Nowadays Is A Playground For The Rich

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"The top 1 percent held a bigger share of total income than at any time since 1929, except for 1999 and 2000 during the tech stock bubble"

interesting. This would support my notion that recessions are great levellers.

And suggest that the rich suffer disproportionately during a recession.

And during a global recession (peak oil), the third world may get hit first, but the West would hurt the most - having far more to lose...

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Guest Alright Jack

Interesting thought: Recession - "The Great Leveller".

I remember posting about what a good forecaster Robert Prechter was and I was shot down, saying that anyone can predict anything if they hunt through enough stuff they've spouted.

But specifically he has said we are approaching a bigger depression than 1929, a depression on a scale that might end the US republic and fiat money. I think that's pretty specific.

Despite the accusation of "doomster", I see the truth in a great economic cataclysm. I know it will end up with a flattter, fairer world, where all the unfair trading relations with the Third World (real "sweat-won goods" for "toilet paper") are swept away.

Isn't this guy a prominent deflationist? Isn't this the sort of guy that recommends holding bonds and cash? I cannot understand how holding a non-redeemable IOU of a bankrupt nation can be taken seriously as a 'sound' investment.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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