My sentiments exactly. What I find interesting is that back in 2007 I said this could get “as bad or worse than the great depression”. At the time it sounded like crazy talk, EVEN TO ME. But it seemed undeniable.
I now have absolutely no doubt it will be worse than the great depression, which was ended by a world war (if you get my drift).
In fact, I call it WDI and this WDII (World Depression II).
It’s not just the US, and regardless of what you’ve heard in the news, The PIIGS have not gone away, except maybe for Iceland. And there is a very positive story there.
There is more debt in the world that at anytime in the history of man. There are two ways to resolve a debt. The debtee can pay it back or the debtor can try and collect.
I have said for years that if we had an economic collapse comparable to the thirties it would be WORSE simply because people of that area were generally FAR MORE self-reliant and had a much greater ability to figure out how to, as we used to say, “Make a dollar out of fifteen cents.” Much of today’s population would likely starve in the circumstances in which the generation of the thirties would thrive. The only reason so many do not recognize it as a depression is that EBT cards and all the rest are not so visible as soup lines and unemployment lines. Some of our current idiotic commentaries claim that people who are living on government handouts are not living in poverty. I say that if you cannot put bread on your own table you are in poverty, no matter that someone else puts bread on your table for you.
I think it should be obvious to anyone who thinks at all that we are indeed in the middle of a depression.
“What I find interesting is that back in 2007 I said this could get “as bad or worse than the great depression”. At the time it sounded like crazy talk, EVEN TO ME.”
In 2007 I said, “We are in a depression.”