Economic Meltdown 2009 is Worse than the Great Depression

“One of the problems of a garden, as I see it, is that people who are starving will come steal your food. You can’t guard it ALL the time.”

That is why you breed your own army. If for a few reasons that wasn’t possible than you move in with family or neighbors. Either that band together with neighbors to stand watch and share land resources.

For those wondering, a flat-felled seam is what you see on your jeans. It will never fray and is not uncomfortable next to the skin.

Here is a tutorial:

http://www.sewneau.com/how.to/flat.felled.seam.html

Click on tutorial link and a complete set of instructions with pictures will open within the loaded page.

I taught myself to sew with a book and a borrowed machine back in the late 60s. My grandmother was a tailor and I was totally spoiled. Since she could do everything imaginable to make the necessities and some luxuries of life, I had no reason to learn. I began to sew in order to have the trendy Carnaby Street clothes that were not available in the US. Within a year, I was sewing for other people for payment.

Actually, I _hate_ sewing after making my living at it for about 5 years or so at the beginning and again in the 1980s when I designed, manufactured and sold designer clothing from my own handwoven fabric. My husband recently purchased an industrial machine (they scare me) to make sails for the boat he is building. He likes to sew! So, between my old, non-computerized Bernina and his industrial machine and an antique treadle machine from the 30s with extra belts and attachments, we have several projects planned for next winter and feel we are set for whatever the future holds.

It can be done by anyone. I don’t think feed sacks are reusable any longer, though. Anyone know of an affordable fabric source?

The snow melted in the yard on Wednesday of last week.
This week the TV weather girl is predicting nighttime temperatures in the high 20's tonight, and two nights following.

I guess it must be true. We only have two seasons here! Winter and the 4th of July.

It's True! Last night we got another 8" of fresh snow, and it is still coming down as I type this message. With only a little more than 60 days or so till the 4th of July surely the snow will quit falling.

The snowplow driver just passed again so it probably is safe to make a trip down to the mailbox. Does anyone know where I can get a hold of that Al Gore fella?

Dave, something that I’ve realized some time after absorbing those papers... None of those financial crises (except the GD) were truly global in nature, meaning that while in every one of those crises a country had exports to help drive recovery, the entire world can’t net-export itself into recovery in 2009.

Another thing that has recently penetrated my skull is the Triffin Paradox, namely that in times of severe crisis like this, the policy required for domestic US recovery are diametrically opposite to the policy required to maintain a global financial system based on dollar reserves and dollar-based oil trade.

That first realization makes one pessimistic. The second makes one run to the store for the proverbial canned goods and ammunition.

YES.

You’ve put into words much more capably than I have to date why “this time it is different.” Every time I’ve been getting into one of these circular arguments with people using post-WWII data, I keep saying “Yea, *but* — those post-WWII were not widespread (much less globally interconnected) debt deflations.” And at this, many people pushing back on that say “so what?”

The export/import paradox you speak of is exactly THE nut of why this is different. Consider this on manifestation of the different you speak in the Triffin Paradox:

One of the indicators that some analysts are saying is positive is our shrinking trade deficit. OK, that’s true.

But this very fact is pummeling Japan into a no-foolin’ depression as we speak. China isn’t there yet, what with their vast cash reserves and outlets for domestic development, they can prevent their GDP from being completely sunk by a shrinking US consumption level, but Japan is in dire, dire straights.

OK, so what does Japan’s lack of exports mean? Well, at some point, if their exports don’t pick up, they’re going to run out of ability to buy US debt with a trade/current account surplus, because they’ll not have any. I suspect that this point will approach rapidly if oil prices go back up. If that happens, there’s only two scenarios I can see: a) China picks up the slack in US debt buys, or b) interest rates have to go up to attract other capital into buying US debt.

And then we’re in a world of hurt - high interest rates, anemic growth means more anemic growth.

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