« Back to story "The 1929 Crash and Recession to Depression: Did we Forget? | MyFinanceReporter.com"

Story Comments

Posted by: Gransater 1 year, 6 months ago

This page is a permanent archive of the comment below and its replies.
To view this comment in the context of the full discussion for the story, use this link.

All Comments Share Story Report

Neutral
Gransater1 year, 6 months ago

This comment is below the standard viewing threshold View It »

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.

(comment_max_expanded_depth : 55) (comment depth : 3) (recursion depth : 1) (max_comment_reply_depth : 40) (comment_max_render_depth : 55)
Reply
2 Replies

loading ...
- Neutral
  Wolfie20071 year, 6 months ago
  
  This comment is below the standard viewing threshold View It »
  
  Gran
  So what does all that have to do with this article? The subject of which is: are the present economic conditions like the great depression.
  
  (comment_max_expanded_depth : 55) (comment depth : 4) (recursion depth : 2) (max_comment_reply_depth : 40) (comment_max_render_depth : 55)
  Reply
  1 Reply
  
  loading ...
  - Neutral
    Gransater1 year, 6 months ago
    
    This comment is below the standard viewing threshold View It »
    
    Wolf
    Sorry. Didn't realize I needed to be absolutely exact in pointing out similarities to the article. Lets see
    A depression was forecasted, and later the opinion was changed to: "A depression was outside the range of probability". That sounds familiar.
    "The market lost billions, but who will pay the price" The market, meaning wall street. Didn't I see a major investment house being acquired at firesale prices here recently? How many investors lost money on that deal?
    "Investors rushing to take advantage of margin lending on stocks.." Recently you could read investors rushing to take advantage of low down payment for houses.
    "Banks taking advantage of cheap funds from the reserve and fueling the speculation on the market" Do I really need to go on?
    Yes, the conditions aren't EXACTLY the same as in 1929, BUT, there are similarities if you look at the whole picture. Then, maybe I'm just ignorant and don't see nuances.
    
    (comment_max_expanded_depth : 55) (comment depth : 5) (recursion depth : 3) (max_comment_reply_depth : 40) (comment_max_render_depth : 55)
    Reply
    0 Replies
    
    loading ...