2008 U.S.A. the great depression

Some sobering words there..

Don't know if I'd go so far as to say it was the great depression all over again. However it does look bleak for a lot of people.
 
I agree....
The great depression went as far as introducing a $500 bill, back 80 years ago when the $5 was hardly used
 
Also the great depression was in conjunction with the dust bowl of the midwest(?) states where most of the food was grown..

Having said that, with the environmental changes around, we might, possibly see a smiliar thing again. But currently, no, not a depression, but something pretty close given the right conditions.
 
all thanks to Saudi and the OPEC klan, who know that they can pump a whole lot more oil into global markets, and make even more money, but rather prefer to make a bit less to slow global economies and the US, as a form of their supremest nature.
 
re a potential depression. Its quite possible, food prices are gradually rising - and more
importantly, the fuel prices (including diesel) are causing the sheeple to realize that
something's wrong somewhere.

Seen the first few media mentions on network TV, of 'gee how come
the oil companies are making so much money' - an angle that hasn't popped up before..

That said - the standard of living in the US is so high, and the big gas guzzling vehicles are so widespread everywhere - I think the US as a society, can benefit in the long run, from being taken down a notch or two, and understand that it can't operate so wastefully, at the expense of everyone else in the world.

I go through so-called 'poor' areas here in the US, and I promise you, folks in Africa would see them as luxurious dream suburbs.

Its probably a good thing to have the money begin to collapse, as it will undercut and stop the military expansionism, and force 'merkins to learn to live in a more sane way, and not see the rest of the world as simply an endless resource for oil for them, to continue sustaining a crazily wasteful standard of living.
 
I remember people who where around 20-30 years old during the previous depression telling me about the hardships they suffered.

But, they also told me that one was considered rich if he had no debt. It meant that what you earned today could be used 100% for yourself and your family.
 
LoneGunman said:
re a potential depression. Its quite possible, food prices are gradually rising - and more
importantly, the fuel prices (including diesel) are causing the sheeple to realize that
something's wrong somewhere.

Seen the first few media mentions on network TV, of 'gee how come
the oil companies are making so much money' - an angle that hasn't popped up before..

That said - the standard of living in the US is so high, and the big gas guzzling vehicles are so widespread everywhere - I think the US as a society, can benefit in the long run, from being taken down a notch or two, and understand that it can't operate so wastefully, at the expense of everyone else in the world.

I go through so-called 'poor' areas here in the US, and I promise you, folks in Africa would see them as luxurious dream suburbs.

Its probably a good thing to have the money begin to collapse, as it will undercut and stop the military expansionism, and force 'merkins to learn to live in a more sane way, and not see the rest of the world as simply an endless resource for oil for them, to continue sustaining a crazily wasteful standard of living.
Click to expand...

So true.
 
Some of the things that folks dont realize about American culture:

'Saving money' is not considered a norm here.

'Being in debt' is considered 'normal'. (Long as people pay off the minimum credit card payments, they think they're doing okay)

'Consumerism' is Patriotic. (Buying stuff is good for the economy, or so they're told)

'Instant gratification' is a norm here. (The idea of 'saving up' for something and then
buying it when you can afford it, is not a norm for US thinking. What you and I were probably
taught by our folks, isn't the norm here in the US. Everything is geared towards instant
gratification and helping you get into debt as fast as possible).

I get constant unsolicited free credit cards sent to me, which I have to cut up and destroy,
to prevent anyone else from finding in the trash, and using. 'Credit' is a way of life here.

There's rebates coming soon, from the IRS.. and articles are pointing out the 'strange'
fact that, gosh, a lot of people are going to 'save' their rebates - rather than spend them -
something that doesn't usually happen.
'Saving money' and living frugally, isn't a norm - like it is for most other places. So here,
the fact that folks aren't going to blow tax rebates on TV's or something, is considered noteworthy.

Average US person 'eats out' probably 4 times or more a week. Very few people make food at home.
I'm considered a weirdo coz I make my own bread and pizza and anything else I want :P

I'm also not 'normal' - because I don't buy anything on credit, and try and save 'real' money, in order
to afford to pay for things I might want. This isn't normal US thinking.
 
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I did refinance home loans in the early 90's (in California) when the interest rates dropped. What struck me that there were 2 types of borrowers: Those with no debt aside from the mortgage, of course, and maybe a car loan and those with debt up the ying yang... maxed out on 2/3 credit cards and other similar consumer debts, car loans, etc. But in both cases, very little savings. Probably not much different here in SA, I would guess?
 
Is this another gloat thread - revel when it appears bad times hit the USA.
 
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Londo said:
I did refinance home loans in the early 90's (in California) when the interest rates dropped. What struck me that there were 2 types of borrowers: Those with no debt aside from the mortgage, of course, and maybe a car loan and those with debt up the ying yang... maxed out on 2/3 credit cards and other similar consumer debts, car loans, etc. But in both cases, very little savings. Probably not much different here in SA, I would guess?
Click to expand...

Whomever has money to save do not know how to work with money here.
South Africans are notorious for not saving.

At the moment we are being punished for living on credit.
Interest rate hikes are a nightmare for most.

Plus the rising food and fuel cost.

No, not fun being here!
 
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