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re: Are we about to go into a depression? Serious question.
Posted on 3/25/20 at 6:17 pm to magildachunks
Posted on 3/25/20 at 6:17 pm to magildachunks
1929 happened because speculators were borrowing money to invest and then borrowing again to pay that interest. That was a house of cards much closer to the dotcom bubble or the housing crisis of 2007.
This is a temporary stoppage caused by government. Once they got out of the way, the economy will come back. Not instantly, but in a matter of months to years. Also we won’t have a president pushing Big government progressive policies to extend the depression until a decade later
This is a temporary stoppage caused by government. Once they got out of the way, the economy will come back. Not instantly, but in a matter of months to years. Also we won’t have a president pushing Big government progressive policies to extend the depression until a decade later
0
Posted on 3/25/20 at 6:19 pm to magildachunks
Stonks go up. Stonks go down.
Posted on 3/25/20 at 6:21 pm to Tigerlaff
Posted on 3/25/20 at 6:23 pm to magildachunks
quote:first of all, we didn't go into a depression in 1929. bullshite textbooks brainwash people on that nonsense bc the most socialist president we ever had drove us into the depression and the propaganda machine in this country has to make sure people dont understand that.
a global depression like 1929?
secondly, we aren't going into a depression based on this, but the dims hate America enough that they may come up with more ways to destroy us.
Posted on 3/25/20 at 6:23 pm to sta4ever
quote:
As long as the foundation of the economy is good
Can you elaborate on what the foundation of the economy is?
Because by my take, that's small/medium businesses and they are seriously hurting right now and most can't take much more.
Posted on 3/25/20 at 6:24 pm to magildachunks
No. Job market/work force is different from then.
A great deal of people can work from home thanks to computers. Most of the jobs back then was manual labor.
A great deal of people can work from home thanks to computers. Most of the jobs back then was manual labor.
Posted on 3/25/20 at 6:28 pm to magildachunks
quote:
It took one day in 1929 to frick the economy up for 11 years.
FYI-The economy in 2020 is much different than 100 yrs ago. If you are not trolling, please don’t procreate
Posted on 3/25/20 at 6:33 pm to magildachunks
Big business will win.
Big box stores, pharma, eventually the banks.
Big box stores, pharma, eventually the banks.
Posted on 3/25/20 at 6:51 pm to magildachunks
I’ve been depressed all week.
Posted on 3/25/20 at 6:57 pm to magildachunks
Hopefully all it is it is a depression. The can just keeps getting kicked down the road. Any interventions the fed does just hurts us in the long run. All this does is cause inflation, and devalue the dollar, eventually no one will want it. Yeah the dollar is up now, it’s because nobody believes in the banking system and is trying to get cash out their banks. The best thing for us is to let all these businesses fail and have a free market, let someone new run the business is the right way. Our economy has been shite since the late 70s, and this is just a ripple from 2008. The fed will put patches on this, and the next bubble will be the last one.
Posted on 3/25/20 at 6:58 pm to Macavity92
quote:
after people return to work. Which will be weeks at most, not months.
And you are basing this on?
Posted on 3/25/20 at 6:59 pm to magildachunks
Skyscreamers are the reason
Posted on 3/25/20 at 7:04 pm to magildachunks
quote:
It took one day in 1929 to frick the economy up for 11 years.
holy crap.
some of the funny shite I read on here is amazing.
lets pretend the crash of 29 caused the depression all by itself.you do realize the crash wasnt in one day, right?
Posted on 3/25/20 at 7:29 pm to Rust Cohle
quote:
Any interventions the fed does just hurts us in the long run.
Now this is some Rust Cohle nihilism baby.
All they're doing is slapping a poisonous band-aid on it and hoping it holds together so they can enjoy their retirement. Eventually it will all crash. The longer they put it off, the worse it will be when it happens.
Posted on 3/25/20 at 7:46 pm to YNWA
quote:
A great deal of people can work from home thanks to computers.
Not enough to keep a modern economy humming.
In response to the idea that we can just pick up where we left off, that’s hopeful at best. Businesses can’t just suspend all their expenses and reopen a few months later. A lot of these jobs won’t come back for an extended period.
Posted on 3/25/20 at 7:53 pm to magildachunks
quote:
It took one day in 1929 to frick the economy up for 11 years.
Um, no. Unemployment didn’t get above double digits until the Smoot-Hawley tariffs were enacted almost nine months after the crash. Massive government intervention throughout the decade of the 20’s prolonged unemployment depression.
Posted on 3/30/20 at 4:14 pm to magildachunks
Bump
Posted on 3/30/20 at 4:19 pm to magildachunks
quote:'
How feasible is it we go into a global depression like 1929?
Not at all. Life will return to a new "normal" in May. Most businesses will begin to ramp back up. New social distancing measures will become permanent. We will see less gatherings of large amounts of people, not sure how concerts, sporting events, etc will change, but they will.
By this time next year, 98% of the people unemployed by this, will be reemployed doing either their existing job or a new one.
Posted on 3/30/20 at 4:39 pm to LSU5508
quote:
There is a better chance you get struck by lightening twice tomorrow than a global depression happening.
wrong
the better question is how the recovery looks.
Posted on 3/30/20 at 4:40 pm to Macavity92
quote:
Which will be weeks at most, not months.
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