Author Topic: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)  (Read 856 times)

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Offline INVAR

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Re: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)
« Reply #25 on: September 15, 2017, 12:06:36 AM »
You younger folks should know that a large chunk of it's own debt our government owns is in your Social Security trust fund.   

What 'Trust Fund'?

You mean the 'General Fund' where all that money is spent and Government IOU's tossed in the SoSec 'Trust' for payout to current beneficiaries from payroll deductions from current withholding?

Ponzi is blushing.
Fart for freedom, fart for liberty and fart proudly.  - Benjamin Franklin

If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.  - Alexander Hamilton

Offline Frank Cannon

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Re: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)
« Reply #26 on: September 15, 2017, 12:49:36 AM »
The Zero Hedge kooks have been saying this for like a decade, it's never happened.

Wake up. It's already happened....

https://www.thetrumpet.com/16266-chinas-new-gold-backed-oil-benchmark-to-deal-blow-to-us-dollar
�I believe if you work your butt off and pay taxes, you should be able to easily understand and navigate the laws, tax codes, health care and anything else the government puts in place that affects us all,� - Robert James Ritchie

Offline INVAR

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Re: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)
« Reply #27 on: September 15, 2017, 01:38:04 AM »
Wake up. It's already happened....

https://www.thetrumpet.com/16266-chinas-new-gold-backed-oil-benchmark-to-deal-blow-to-us-dollar

I'm baffled by the source you used.

On the surface you do not exactly strike me as church going fella.

More like a strip club owner.  But hey - one man's plain truth is another man's ticket to the robes of Caiphas.
Fart for freedom, fart for liberty and fart proudly.  - Benjamin Franklin

If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.  - Alexander Hamilton

Offline Frank Cannon

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Re: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)
« Reply #28 on: September 15, 2017, 02:05:07 AM »
I'm baffled by the source you used.

On the surface you do not exactly strike me as church going fella.

More like a strip club owner.  But hey - one man's plain truth is another man's ticket to the robes of Caiphas.

I just picked the top article I came to. Doesn't matter whether the source is a bunch of Jesus freaks or effing Druids. Gold backed crude oil futures are here and the Chinamen are doing them.
�I believe if you work your butt off and pay taxes, you should be able to easily understand and navigate the laws, tax codes, health care and anything else the government puts in place that affects us all,� - Robert James Ritchie

Offline Weird Tolkienish Figure

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Re: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)
« Reply #29 on: September 15, 2017, 05:53:59 AM »
I am not a conservative.

Offline jmyrlefuller

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Re: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)
« Reply #30 on: September 15, 2017, 10:32:02 AM »
In a word, no.

The world economic system is much different than 1929. Back then, there was no welfare state to speak of, a gold standard, and unskilled labor was still a necessary cog in the economy.

What we're more likely to see now, and arguably are seeing now, is the Slow Bleed: the situation slowly and barely noticeably deteriorates. Like the proverbial boiling frog, by the time the damage has been done, it wlll feel normal. That's what fiat money does. The booms and crashes are blunted.
"A deficit is what you've got when you haven't got as much as if you just had nothing. If we tried any of this, we'd end up in jail, but the government gets rid of its debts by nationalizing them. That's like the alcoholic who solved his problem by pouring the booze in all of his bottles into one big container. Himself." (Charlie Farquharson, edited for spelling)


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