Author Topic: Is a second Great Depression coming? (Economic Reality Confronts Our Debt)  (Read 1335 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

...Obsta principiis—Nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers and destroyers press upon them so fast that there is no resisting afterwards. The nature of the encroachment upon [the] American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour." - John Adams, February 6, 1775

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
Two Liters Is A Soft Drink, Not An Engine Size.

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

...Obsta principiis—Nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers and destroyers press upon them so fast that there is no resisting afterwards. The nature of the encroachment upon [the] American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour." - John Adams, February 6, 1775

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.
Two Liters Is A Soft Drink, Not An Engine Size.

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 »
Join the GopBriefingRoom Zello Room!

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Channel is gopbriefingroom.

You can download the app on your phone or PC. It's a push to talk chat app.

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.


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