Posted on 02/07/2009 3:37:31 PM PST by An Old Man
The stock market, the banking sector, the government budget deficit, the weakness of currencies, and the luster in gold prices point to a simple fact. US depression is long term, perhaps multi-decade, and is deepening.
Within the secular long-term bear markets, and the economic depression, there can be some bright cyclical upturns. One such upturn may come now suddenly and very violently. That is exactly how the economic depression driven stock markets behave.
Worn down by a drawn-out recession, cost-cutting employers are laying off workers at an alarming clip and there's no end in sight. The Labor Department releases a report Friday expected to show that January was another cruel month for workers and companies.
With employers in no mood to hire, the unemployment rate jumps to 7.6 percent in January from 7.2 percent in December, according to economists'' forecasts. If they were right, that would mark the highest jobless rate in 17 years. In January 2009 US economy lost 598,000 jobs.
Against the market gloom and doom, anytime a sudden upturn can come. But the fact is the depression in US and the rest of worlds is long term and will worsen over the next thirty years.
How many of you think that's a long time?
Head’s Up!
JR’s going to Washington Monday
http://www.freerepublic.com/focus/news/2180555/posts
Care to join him?
I think I picked the wrong decade to stop sniffing glue...
Maybe not, glue can be expensive....
Well at least it’s not a religious depression.
If it’s a secular depression does that mean we can blame it on atheists?
Any bets on how likely that is? ;)
How many are stupid enough to believe this slop?
Was in the plant today watching the weekend shift knock out agricultural equipment, primarily for export. Even though the US might be the worst place in the world to make things we do a good job exporting to the markets we aren't locked out of.
The lesson to us all is the experience of the Automakers - The so-called ‘Legacy Costs’. All levels of Gov’t are saddled with these same obligations and the Dems impulse to actually expand them insures that capital will be consumed by patently unproductive sectors long into the future.
Not to be Gloom and Doom but these are not just opinions, they are facts as any simple projection of just the Federal Gov’t unfunded obligations makes clear - And the situation is similar at all levels of State and Local Gov’t.
California's recent difficulties are just the tip of the iceberg IMHO.
...well said. When our lazy administrators of foreign debt bribes and their relatives in thieving government reach the proper low of popularity for themselves, developed hobbies will really pay off—the “markets we aren’t locked out of.”
For example, you may not be able to start a saw mill now as a public business due to local government interferences from the false enviro-wenches sent from big mill offices or families. But there will probably be a point in time, where that will be very doable (when the big corporate/government alliances are too afraid to show). ...same applies to big building developers, furniture makers and others.
While 30 years IS long, I believe we are facing a Depression (especially if Obama's spending bill goes through), I doubt it wlll be that long. When things are hitting the fan people tend to extrapolate in straight lines. During the 1929 Depression, "experts" were claiming we wouldn't pull out of it until 1958.
Something will pop up to turn things around. The pendulum can only swing so far - at least in a free society.
That last being a key phrase.
I have no idea where you found that, but I can tell you from personal experience, they were dead on. We didn't get indoor plumbing in our little village until 1953! TV followed a few years later.
It appears that it’s also been posted on FR.
Manufactured scarcity The profits of deindustrialisation
http://www.freerepublic.com/focus/f-news/2122661/posts
Here’s another scenario: The country effectively becomes a one party system: Liberal (Democratic). A combination of socialist patronage, voter fraud, and intimidation is used to maintain this majority. While we may remain “free” on papers, people who don’t fall in line will be punished and/or ostracized. As a result, the welfare state gets ever bigger — steadily sucking the life out of the productive economy. Government jobs become more and more coverted — private industry comes to be viewed as the alternative for suckers and people without pull. With the US brought to heel, the Globalists will have little trouble extending this worldwide (if you don’t include failed states).
I believe this can happen and is indeed likely. If it does come to pass, 30 years is nothing. Try a 1000 year night where we are all sucked into the mush of Socialist slavery.
And I’m an optimist. :^)
How many of you think that’s a long time?
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I think if I live that long I will be a very old man!
On a daily basis I am amazed by the seemingly-sudden proliferation of beat-up, rattle trap vehicles driving up and down the road.
Well, it is almost logical. For the past 50+ years we have been exporting our wealth and importing cheap, foreign made goods.
Put another way, we’ve been exporting our standard of living and importing that of our Third World suppliers. And it continues as I type!
And we would not have pulled out of the Depression save for the fact of WWII. The Europeans didn’t emerge from it until the late fifties.
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