Saturday, September 27, 2008

You say depression: I say a fundamentally sound economy

Financial Crisis: The next decade could be our very own Great Depression

"History shows that whenever there is a banking crisis, an economic slump, with all that entails - mass redundancies, falling house prices, widespread bankruptcies - invariably follows. The scale of the recession depends on the size of the banking crisis; the past year has brought the biggest systemic financial collapse since the 1930s." But...but...but... interest rates are much lower than last time!

Posted by letthemfall @ 11:20 AM (801 views)
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4 thoughts on “You say depression: I say a fundamentally sound economy

  • It does not have to be. It can be a glorious decade. But not with this system.

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  • Stevie, I almost stood for that 😉

    Makes you proud doesn’t it – the glorious British eccentricity and indominatable spirit, long may it ever reign! One in the eye for the pc brigade of course. Listen to Blakies Jerusalem on the link at the end – while you still can…

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  • planning4acrash says:

    Economy is fundamentally sound, would boom and could be 5-10x larger with sound money and no fake, fiat business cycles. Only problem is fiat money and derivatives. We can stabilize the money growth tomorrow, in a slow progressive way, and we can delete all the derivatives by arresting financiers and declaring derivatives illegal, retrospectively. Derivatives are only dangerous when real money is printed to “bail them” – This involves liquidating derivatives and the cash goes straight into commodities, causing general price inflation and resulting in monopolies that will end up in Oligarchy.

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