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Posted by: Wolfie2007 1 year, 6 months ago

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Wolfie20071 year, 6 months ago

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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.

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  Gransater1 year, 6 months ago
  
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  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.
  
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