The 1929 Crash and Recession to Depression: Did we Forget? | MyFinanceReporter.com »
Posted By aust 1 year, 5 months ago in Business & FinanceThe economy on replay - the events of 1929 are so scarily similar to today, like then, its still the average person that has to suffer the brunt of 'downturns' and 'recessions' from the work of bankers and rogue financial institutions. Policy makers, policy makers!
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aust
Born and based in Australia! The country that brings the world kangaroos, koalas and iron ore!
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Wolfie20071 year, 5 months ago
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What a scare mongering story the economy of today in no way resembles the world economy of 1929. The author of this story is either deliberately trying to scare people or is woefully ignorant of the history of the Great Depression.
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Gransater1 year, 5 months ago
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Wolf
You sound like you're in an enviable position of financial security. Let me assure you however, there are a very large number of people, globaly, including in the U.S., at the very brink of starvation, and countless more aproaching the precipice daily. It isn't for naught that stores are closing, hunger increasing, homes and employments lost etc, etc and so on.
For too many, the end of the tunnel isn't in sight, debt both personal and nation generated have all but extinguished any hopes for the future. This is real, and is happening now.
Sure there is a ever shrinking sgment of the population that is enjoying the fruits of good life. We may not be to far from the point when the uttering of: "let them eat cake" could be dangerous to your well being. Don't tell me I'm wrong, so far I'm doing OK. Tell all those in dire strait that things are great, and "hear" their response. It may not be mongering, but reality you'll hear.
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gbilly08Comment removed: Retracted by user
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Truzseeker1 year, 5 months ago
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and with the crash, famine .... Famine killed 7 million people in USA http://donoevil.propeller.com/story/2008/05/21/...
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ML2007Comment removed: Retracted by user
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canadianrancher571 year, 5 months ago
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There will always se speculative bubbles that break, but there has to be alot of factors world wide that come together to cause a depression. As we have seen in just the last little while a change in a countries currency can quickly affect the countries balance of trade which can help restore confidence in the economy and then the cycle starts on it's merry way again.
After saying all that I feel that we are approaching a situation that will lead to a world depression, there are many countries in the world right now that are in an upswing in there economies but many of them count on the U.S. as their market and with ever increasing energy costs in the U.S. the American puplic will cease to consume. The energy factor is the one factor that may not have played a part in previous depressions but it will be a major one this time.
I have been very carefull with my money over my life but I know that there is no safe investment if times get truely tough.
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anioklyComment removed: Spammer
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Totally1 year, 5 months ago
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The economy is practically held up by the common Joe. When middle calls Americans are paying crazy prices for fossil fuels and our representatives can't take the lead in addressing it, then is time for Change..... I say throw out all those representatives that are not doing their jobs....
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