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With almost a year of housing inventory yet unclaimed, one wonders who is supposed to be buying homes? Unemployment rates - calculated the way the government used to do it before it was changed in the 1990s - pegs the real unemployment rate around 20%, or 30 million people. During the Great Depression, unemployment reached 25%, the non-farm peak figure of the 1930s clocked in at 35%.
If you think 30 million unemployed is bad, consider the following which puts a face on an otherwise stale statistic. Each of the 30 million unemployed US residents probably supports a family, whether a spouse with children, or just a spouse. Based on 2-4 dependents per unemployed worker, a range of 60 to 120 million Americans are already affected by unemployment; that's 20 - 40% of the US population.
Light at the end of the tunnel, where?
Research shows that the decline in industrial production over the last nine months has been as bad, if not worse than the nine month following the 1929 peak. The world stock markets have fallen even faster this time around, compared to 70 years ago. The volume of world trade is drying up at a faster pace than the Great Depression and government surpluses are the lowest in 100+ years.
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How did gullible investors, who allowed themselves to be swept away by unfounded optimism, fare during the Great Depression? The author mentioned at the outset of this article, John Kenneth Galbraith, described it like this:
'The man with the smart money, who was safely out of the market when the first crash came, naturally went back in to pick up bargains. The bargains then suffered a ruinous fall. Even the man who waited until trading conditions returned to normal, saw the common stocks they purchased drop to a third, and in some cases even a fourth of their purchase price over the next 24 months. The bull market was a remarkable phenomenon. The ruthlessness of its liquidation was, in its own way, equally remarkable.'
Already, this decline has dwarfed the 1973-74, or 1981-82 bear market. Comparing this recession to the recessions of the 70s and 80s, is like comparing Hurricane Katrina to your average summer storm.
LINK
$300 Million CASH Stimulus for Refrigerators?
Link HERE
More Swine Flu Scare Tactic Propaganda
90,000 could die from Swine Flu
..and here
$1000 a day Fine
Well now, MASS STARVATION IN AMERICA now suddenly seems to be a real possibility, ENVIRONMENTALISM, the worship of Nature, that is the NEW AGE WORLD-WIDE RELIGION for the masses, Global Warming, the PTB never stop thinking of ways to "eliminate" billions of "units"....through wars, famine, and pestilence, THE TRUTH IS REAL!Thing is, WILL "THEY" be stopped?
ReplyDeletehttp://pencildicksvstheworld.blogspot.com/2009/08/kalifornia-meltdown.html
there is many ppl that say we will have a crash in the fall of this yr into 2010. does anyone think of this. we have commercial real estate going bad,alt-a option arm resets in 2010. deuthche bank says 77% of all option arm resets will have negative equity. 2010 will be the first yr of the deppression. the question i have is will we have a crash this fall?
ReplyDelete5:05 - You will need to define what you mean by crash? Do you mean a stock market crash? Dollar crash? General economic crash; high employment, business failures, etc?
ReplyDeleteA lot happens at the end of the year. The numbers depend highly on the soccer moms getting out and doing their useless spending around the holidays.
Last year the numbers were horrific but somehow they put lipstick on a pig and made them appear to be just below average.
Of course in our debt based service Ponzi economy, spending is good, savings is bad.
If people start spending and charging, the banks can flood their free ill-gotten money out into the economy at high credit card rates. What a business! Loaning out something you got for free at 12%. Ahh, to be a banker!
Of course there could be a crash of sorts, but I am becoming more and more convinced that this is just a slow death.
BTW, the economy in general and the stock market are not the same thing. The stock market can be looking good while the economy is dying a horrible death.
Nothing you read in these blogs sounds like anything optimistic on the economy. All the things you mention are happening, or SO we are told. The problem here is that we go by what we are told. OK you tell me that ALT-A's are going to implode next week. Now where am I going to go and verify that? You tell me the CIA shot Kennedy--hell its been all these many years and I still can't verify that Oswald did not do it himself. You tell me Martial Law is comming in October--Who am I going to ask? Obama? Biden? My wife? My barber? No way I can verify that. What you mean is you "supose" it will happen, you "supose" the CIA shot Kennedy --you supose it from what you read, what you think, what seems logical--but thank you for being a good steward of information, but HOW am I going to verify that? Herein lies the problem. Research is a dime a minute process on the internet, books, videos, cousin James, aunt Judy. I dont want MORE information---I want VERIFICATION. Then we as a Nation can act on it. Sorry for the rant. When I used "you" in the post, I was refering to any and all websites and news, not any specific person.
ReplyDeleteAll the things you mentioned can be VERIFIED for you own personal information. What you obviously crave is AUTHORITY FIGURES and OFFICIAL sources to let you know you are right. That your doubts are warranted. An atta boy of sorts.
ReplyDeleteIt's never gonna happen because official sources are liars and controllers. So if you really need an atta boy maybe you should cast your doubts aside regarding any questionable info, join the collective hive mentality of lemmings, and leave seeking out truth to others.
Anonymous August 24, 2009 9:43 PM: The magic bullet theory pretty much vindicated Oswald, but that's old news.
ReplyDeleteI think you need to continue watching your TV. They certainly will verify things for you...
It was only a matter of time before the "Agents" got into this blog, and me believes there is at least one now posting..
No you miss my point entirely. Seeking out the truth is exactly what I am talking about.
ReplyDeleteYou see, blogs and writer articles are about "Opinions" of various people, some of whom are "recreational gloom and doom" writers. In your post you state that things can be verified. One writer states that all high ranking politicians are in fact "Reptillian Shape-Shifters in Human bodies". I doubt I would be able to submit one to an MRI or such test to verify that. People write "what they personally think" and peddle it as the whole truth. The authority figures and official sources are exactly what we need to avoid in our truth seeking. The bottom line is that our news, views, and world reports just dont cut it.
6:07 AM- First of all, many of these "opinions" are backed up by accounting figures, For instance ... The Federal Reserve monetary policy "figures". Do you think mainstream news will post these figures for the world to see? NO. A blogger actually directs you to the Fed site, explains who is paying for what and how. In other words most of these accounting figures could be found out and explained by YOU if you decided to actually do some digging. The government takes these figures, spins them for your enjoyment and makes you feel better. You can also view videos that exist on youtube, catching gov't officials in massive economic lies. These blogs are NOT opinions but rather hard facts obtained through sources you can easily find yourself.
ReplyDeleteWe are not in a Recession. This is a Depression. We can lie all we want and create false indications of economic recovery with boosted Car sales and First Time Homes sale credits, but the reality is that more and more people are losing their jobs as stores are closing left and right. Plywood in the windows is a frightening sign, but there are lots of windows with plywood in them.
ReplyDeleteI survey the Frisco Bay area on a weekly basis to get a feel for how bad it is. The number of people I have seen sleeping in cardboard boxes (near the streets and alleys of the downtown city areas (where the rescue missions are located and free meals can be had if you line up early enough) has increased ten fold since Obama became president. The number of autos with expired registrations is rapidly increasing. My guess is that the same percentage of people do not have auto insurance now-a-days. Cars with people sleeping in them on the residential streets has increased by a factor of five in the past three/four months. As more and more people fall off of the back end of the Unemployment Insurance benefits programs, that number will skyrocket. In a cardboard box you can get wet when it rains. In your car you can still stay dry.
My home is in San Diego, and this winter I expect to see thousands of homeless who will migrate south for the winter. I wonder if San Diego is ready for the onslaught?
I will be in the Oakland area for the next seven weeks. Recent observations about Oakland. I have been up here several times in my life. Now I am doing research on a book about the South Pacific. Oakland is cutting back on its police force. At night I used to hear gunfire almost every hour of the night. Then I would hear the police sirens as the cars converged on the area of the loud report of the weapon(s). When front running governor candidate Jerry Brown (Formerly Governor Moonbeam - Who is a lifetime career politician like my useless representative in Congress, Brian Bilbray, who has also held over a half dozen different government positions in his life) was Mayor of Oakland, the city put in an "expensive direction finding triangulation gunfire report finding and ranging system."
I guess that is what you would call it. (I just made that name up, but it is apt.) At any rate when the guns are fired, the dispatcher can give the police an address to run to in their sleek police cruisers so they can investigate. Many times, some teenager or old man is found bleeding in the street, or gang members are congregating in front of some gang member's house and they tell the police that they "heard nothing" and "saw nothing" and that will be that. The police can not stay there and write a detailed report if nobody will cooperate. Since the funds for this program have been cut, I am not awakened by the screaming police sirens at night as much as I used to be. The gunfire I can sleep through now, so with the stilled police sirens, I am getting more sleep at night. Since I am almost 62, that is a good thing. You just have to convince yourself that the gunfire is popcorn popping.
Yes, we've got Trouble, right here in River City.