Posted on 03/06/2009 9:24:14 PM PST by FocusNexus
So let me do the preachers of Armageddon one better. Today's stock market isn't just the “worst since the Great Depression,†like they're so fond of saying. No, it's even worse than the Great Depression.
Take a look at the chart, below. It shows the daily progress of the S&P 500 in terms of percentage change from the very top. The brown line is the change from the recent all-time highs on October 9, 2007. The blue line is the change from the all-time highs just before the Great Depression, September 6, 1929.
As of yesterday's close (Thursday, March 5), the S&P 500 has lost 56.4% from its all-time highs 513 days ago. At the same point in the bear market associated with the Great Depression, that is at the 513 day mark, the S&P 500 had only lost -- only! -- 49%.
(Excerpt) Read more at smartmoney.com ...
Welcome to the Great O-Pression.
Clever.
Lamh Foistenach Abu!
Radioactive mutants. Radroaches. A barren wasteland with scorched trees and horrid scrub brush will hid the mangled corpses and gnawed bones of the lucky -- those who died early.
This is the reality. We will scavange bent-tin cans for a few coins, as the radioactive wind howls over us. Get used to it.
FDR’s policies prolonged Depression by 7 years, UCLA economists calculate
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
Obama is succeeding!
Reagan did it, but, hey, liberals hate him.
I was there and Reagan's plans worked. Obama's an idiot.
I’m stealing that.
Is that Fallout?
If it is i got it, how is it?
Bump
LOL. You got some great pictures there of my old neighborhood.
“I’m stealing that.”
Spread the sentence. It’s catchy, it’s appropriate and I stole it.
You bet!
"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
And guess what the Dems are doing-- exactly enacting "ill conceived stimulus policies" that prolonged the great depression and is pushing us into a "greater depression" right now.
The worst part is that most people don't understand what Obama is doing to us, they still cling to him as a "savior".
Yikes! I didn’t see the whole picture at first viewing. Is that Helen Thomas in the Oval Office?
I think you nailed it. THAT is what it's really about.
Bottle caps will also be the new currency.
Radioactive mutants. Radroaches. A barren wasteland with scorched trees and horrid scrub brush will hid the mangled corpses and gnawed bones of the lucky -- those who died early.
This is the reality. We will scavange bent-tin cans for a few coins, as the radioactive wind howls over us. Get used to it.
You know, I really hate you optimists who sugar-coat everything. Everyone KNOWS that there won't be any bent-tin cans left because they're not ecologically friendly!
Laz - Have you watched Babylon AD? The first 10 minutes of that movie portrays what I think major US cities will look like in a few years. The rest of the movie is so-so.
Laz, you need a woman.
Oh crap!
Is that Aushwitz?
““Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
That’s exactly what my parents believed and discussed all durring the depression.
Having lived through it and having politically active and conservative parentss my education was 180 out of phase with the thinking of the times.
They worked hard durring it and saved enough to start the business without borrowing money and build a 2,400 sq. ft. home in a high end neighborhood in 1936.
bookmark
I was 1.0 years old in 1936....but I remember learning in later years how frugality, hard work, commonsense, and above all, integrity were the values that kept people going through the the thin times.
I wonder if our nation has a great enough percentage of the population that holds those values today to see us through
the O’Pression.
Yeah, it’s been almost steadily down since it became clear that That One would be the Democrat nominee, with an even more precipitious drop since the election. No vote of market confidence there.
I seriously doubt it, we are the smallest generation and are dying off!
The 3 generations after ours lack the work ethic and don’t know how to live without credit.
They never learned to work with their hands and tools.
Juat like cars, all the advances were really invented years ago and incorporated in race cars and hot rods by people that are over 70 today.
If they had elected Lenin in 1930, they would have been in the same situation we are now.
http://www.freerepublic.com/focus/chat/2136635/posts
“Are you looking for a job?”
Note: This thread is updated on a regular basis.
The Great Depression was “great” because of monumentally bad monetary policy. Our monetary policy hasn’t been great this past decade or so, but it’s been leaps and bounds better than during the Great Depression.
See Milton Friedman’s “A Monetary History of the United States.”
You all might enjoy this thread:
Is Recession Preparing a New Breed of Survivalist? [Survival Today - an On going Thread #2]
http://www.freerepublic.com/focus/f-chat/2181392/posts
“Obama”s an idiot”
Don’t misunderestimate the enemy
Obama is a very gifted Marxist Revolutionary.He is very successfully pursuing the goals one would expect of him.
He bought some farmland for $50/acre; everyone thought he was crazy. He would NEVER put money anywhere near the Stock Market...it was always in CD's; spread around to many different banks.
Let's just say he didn't die poor...at all.
Talk about a B movie! Great movie and with Dominique Sanda!
Hey, look on the bright side—at least there will be bones to gnaw! Right? Right, Guys? Hey, where ya goin’?
Any mutant wimmen Laz?
Sound like a modern version of the conditions in the county of my birth after Sherman left it.
But, how can that be? I just heard 0bama on the radio the other day saying that he couldn't believe people were criticising the New Deal and saying it made things worse. He said he thought this matter was settled a long time ago. (And the New Deal was fantastic!!!111eleventyone!!!!1) \
Are you saying Dear Leader could be in error?
I'm saving leaves. Dems are spending money like it grows on trees...they must know something. That something is - the new currency is going to be leaves. That's also why inflation is predicted to start this spring. Also, think about it, blue states seem to overall have more temperate winters. Red states have harsher winters. It's a conspiracy because in winter blue states will still have access to money, while red staters will have to suffer.
I am a War Baby. Between your cohort and the Boomers. I heard the stories directly from my immigrant grandparents and my parents. My parents response was to take a Government job. That just never appealed to me and I seem to have inherited the traits of my Ukrainian grandmother who could always make something out of whatever was around and then find a way to make some money from it.
The following cohorts and their children will learn to avoid credit and to make things themselves. They will have no choice. They will wake up one morning with a work ethic they don’t even know exists today, because after even a year of this horror, they will have learned or died.
We will see innovations and discoveries come out of this just because desperation spurs creativity.
Some things are hardwired into humanity. It is how the race has survived every disaster, natural or man-made, since we began. Many won’t make it, that’s true, but those who do will be changed forever by the experience.
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