Skip to comments.
Why the Great Depression of 2020 Will Be Different
Return to Order ^
| August 25, 2020
| Julio Loredo
Posted on 08/26/2020 8:33:00 PM PDT by Tolerance Sucks Rocks
They are already calling the current pandemic-induced economic crisis, The Great Depression of 2020. The paradigm is, of course, the Great Depression of 1929 that substantially changed the worlds model of development, signaling the onset of State intervention in the economy (the welfare state).
Analysts are also calling it The Great Jump Backwards, because it will push the world back in time by canceling three decades of economic development. International agencies estimate the contraction in GNP worldwide at -5.2%. The Eurozone with be the hardest hit with -9.1%. It is the worst economic recession since 1870, a devastating blow for the world economy, declared David Malpass, president of World Bank Group.
While the worlds situation seems bleak enough, I live in Italy, where the plight is even worse. The Organisation for Security and Co-operation in Europe (OCSE) recently published a study estimating the fall in its GNP at around -13%. This pushes Italy back to the economic level of 1993. According to OCSE pundits, the Italian situation should improve a little in 2021, bringing the country back to the situation of 1997. This improvement is hardly a consolation
Thirty years of economic development will go down the drain and, with them, so many dreams of a better future.
The fall in per capita income will be the worst since World War II. It is the worst crisis since the Second World War, capable of bringing devastation to the health, the well-being and the work of people, creating unprecedented uncertainty, said OCSE analyst Robert Boone.
(Excerpt) Read more at returntoorder.org ...
TOPICS: Business/Economy; Chit/Chat; Conspiracy; Government; History; Miscellaneous; Politics; Society
KEYWORDS: anarchotyranny; ccpvirus; collapse; covid19; debt; depression; governments; italy; lockdowns; multiculturalism; nationalidentity; nwo; ptsd; scamdemic; shamdemic; wuhanflu
Navigation: use the links below to view more comments.
first 1-20, 21-25 next last
To: 100American; 3D-JOY; abner; Abundy; AGreatPer; Albion Wilde; AliVeritas; alisasny; ...
Combined General and Coronavirus PING!
2
posted on
08/26/2020 8:34:38 PM PDT
by
Tolerance Sucks Rocks
(The Constitution guarantees the States protection against insurrection. Act now, Mr. President!)
To: Tolerance Sucks Rocks
The economy was supposed to reset itself around 2005, but we’ve pushed it until 2020, or more. It’s going to reset, whether we want it to or not.
3
posted on
08/26/2020 8:37:31 PM PDT
by
Jonty30
(What Islam and secularism have in common is thp at they are both death cults.)
To: Tolerance Sucks Rocks
Somebody tell him Nasdaq at record highs
4
posted on
08/26/2020 8:38:13 PM PDT
by
JerryBlackwell
(some animals are more equal than others)
To: Tolerance Sucks Rocks
more people dying from other people rather than starvation
5
posted on
08/26/2020 8:38:23 PM PDT
by
Secret Agent Man
(Gone Galt; Not Averse to Going Bronson.)
To: Tolerance Sucks Rocks
I haven’t heard a single person call it that. This guy seems to be pretty fact-free.
To: Tolerance Sucks Rocks
7
posted on
08/26/2020 8:41:05 PM PDT
by
Theoria
(I should never have surrendered. I should have fought until I was the last man alive)
To: JerryBlackwell
Yep, and I’m not caring much about the Eurozone. Socialistzone would be more accurate.
America First!
8
posted on
08/26/2020 8:45:52 PM PDT
by
bigbob
(Trust Trump. Trust the Plan)
To: Tolerance Sucks Rocks
Setting up the return of obamanomics under biden.
To: Tolerance Sucks Rocks
I’m awaiting Mac Slavo’s and Tyler Durden’s input.
10
posted on
08/26/2020 9:13:12 PM PDT
by
moovova
(https://therealjoe.com/)
To: JerryBlackwell
Non-stop Central Bank intervention in the markets does not represent real growth or real wealth. Nor does electronically created money which is backed by nothing.
11
posted on
08/26/2020 9:27:04 PM PDT
by
ChildOfThe60s
(If you can remember the 60s.....you weren't really there..)
To: Tolerance Sucks Rocks
Who is this lying fool anyway?
Somebody tell him big ticket manufactured goods orders are up 11.2%.
Lies and damn lies. These people just disgust me. I genuinely hate them.
The only Depression I see is if biden and harris are elected.
12
posted on
08/26/2020 9:39:04 PM PDT
by
Sequoyah101
(We are governed by the consent of the governed and we are fools for allowing it.)
To: Jonty30
The economy was supposed to reset itself around 2005Could you elaborate on what an 'economy reset' looks like? Serious question. Thanks.
To: Tolerance Sucks Rocks
There is too much pent up demand for a depression. Also returning business from overseas will boost the economy. China will take the big hit.
14
posted on
08/27/2020 4:10:55 AM PDT
by
Jimmy Valentine
(DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
To: Jimmy Valentine
Also returning business from overseas will boost the economy.That makes no sense to me.
15
posted on
08/27/2020 4:26:22 AM PDT
by
central_va
(I won't be reconstructed and I do not give a damn...)
To: Tolerance Sucks Rocks
No living Conservative ( except me ) seems to understand what our founders understood instinctively. Tariffs and economic self sufficiency are the one true way to prosperity.
16
posted on
08/27/2020 4:29:24 AM PDT
by
central_va
(I won't be reconstructed and I do not give a damn...)
To: central_va
We are repatriating manufacturing albeit slowly and that will help.
17
posted on
08/27/2020 4:29:53 AM PDT
by
Jimmy Valentine
(DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
To: Jimmy Valentine
What would help is an escalating across the board import tariff. Start it at 10% and raise it 2% per year.
18
posted on
08/27/2020 4:31:23 AM PDT
by
central_va
(I won't be reconstructed and I do not give a damn...)
To: central_va
19
posted on
08/27/2020 4:33:43 AM PDT
by
Jimmy Valentine
(DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
To: nickcarraway
I havent heard a single person call it that. This guy seems to be pretty fact-free. BOL!
20
posted on
08/27/2020 7:16:08 AM PDT
by
Grampa Dave
(t 11/3/2020!!: VOTE FOR JOBS! , NOT RIOTING BLM/ANTIFA MOBS! POLICE FOR US, NOT JUST FOR THE ELITE!")
Navigation: use the links below to view more comments.
first 1-20, 21-25 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson