Depression, can it happen again?

[John81]

All of my grandparents and their kinfolk made it through the Depression without outside help. It was tough, no doubt about it, but they got by. Hunting, gardening (you don't have to buy seeds, you save some from each crop for next years crop), raising chickens, rabbits and whatever else. Odd jobs if and when they come up.

My Mom and Dad went through a two year period where there was almost no work. Dad would take whatever job that came along but they survived mostly off of his hunting and fishing.

[JerryNumbers]

That is wonderful John, but everyone was not as fortunate as yours.

[John81]

That is wonderful John' date=' but everyone was not as fortunate as yours.[/quote']

I wouldn't call them fortunate and I do realize that others faced different circumstances.

[Anon]

Its not gonna work. None of it will. We are too socialist. Now, if the country goes into depression, anyone who has food or money at all will be required to bail out those in debt and on the streets. The country will go into a complete socialist state. Nobody will be exempt. People who lose their homes due to foolishness will be bailed out by people who have been wise. It won't be anything like the last time, and cannot be compared.

And I did not see anything offensive with his story, including "government dole". That's what it is, whether you need it or not....do we have to be politically correct on OB too?

[John81]

Its not gonna work. None of it will. We are too socialist. Now, if the country goes into depression, anyone who has food or money at all will be required to bail out those in debt and on the streets. The country will go into a complete socialist state. Nobody will be exempt. People who lose their homes due to foolishness will be bailed out by people who have been wise. It won't be anything like the last time, and cannot be compared.

And I did not see anything offensive with his story, including "government dole". That's what it is, whether you need it or not....do we have to be politically correct on OB too?

If we go into a major Depression the government won't be able to bail everybody out and provide as they have before because the government itself is so far in debt that they will find themselves broke as well. The American government is so far in debt, and so at the mercy of foreign countries which hold much of that debt, a serious Depression could collapse the government.

I fully agree with you about the "government dole" being just what it is and that we shouldn't have to speak in a politically correct manner here.

[Anon]

If we go into a major Depression the government won't be able to bail everybody out and provide as they have before because the government itself is so far in debt that they will find themselves broke as well. The American government is so far in debt, and so at the mercy of foreign countries which hold much of that debt, a serious Depression could collapse the government.

I fully agree with you about the "government dole" being just what it is and that we shouldn't have to speak in a politically correct manner here.

Exactly, the gov't would be broke and would start taking money from the rich and upper class. And then yes we would have to get help from the UN, which I don't see any of this happening until right before the antichrist rises, if at all.

[Colin Stolzer]

What do you mean the Gov't will be broke, they have been broke for a long time, they had to extend the cap on the national deficit twice last year and cash out numerous Gov't retirement plans just to keep going on daily operational costs.

We've been living in a debt society for all of my lifetime. The gov't has not ever had a balanced bugdget in my life, because as long as you have a national debt ($9,233,598,816,764.06) then anything you spend that doesn't bring that number back to zero is a deficit.

That's 9 trillion by the way and as I understand it about 70% of that debt is owned by China. When they decide they want their money back what do you suppose is going to happen to our economy?

C

http://www.brillig.com/debt_clock/ that's the source I used for the National Debt.

[John81]

What do you mean the Gov't will be broke, they have been broke for a long time, they had to extend the cap on the national deficit twice last year and cash out numerous Gov't retirement plans just to keep going on daily operational costs.

We've been living in a debt society for all of my lifetime. The gov't has not ever had a balanced bugdget in my life, because as long as you have a national debt ($9,233,598,816,764.06) then anything you spend that doesn't bring that number back to zero is a deficit.

That's 9 trillion by the way and as I understand it about 70% of that debt is owned by China. When they decide they want their money back what do you suppose is going to happen to our economy?

C

http://www.brillig.com/debt_clock/ that's the source I used for the National Debt.

That's all true, but while the economy is still going okay they are able to maintain the facade of having money because they can continue to grow their debt.

If a major depression comes upon us they will no longer be able to do this and the fact they are broke will come crashing down upon them; which could lead to a collapse of the government.

[IM4given]

[tube]OS2fI2p9iVs[/tube]

[IM4given]

It makes me nervous to imagine something as serious as another Great Depression. It makes we want to stock up on food supplies - fill my pantry and all available storage areas with canned goods, dried beans, canned meats, etc. I guess I tend to go into crisis mode - which it is never a bad idea to have food stored up in the event of storms, hurricanes, etc.

I am also cutting back my expenses everywhere that I can in order to have the cash to stock up like this. I think I am going to have to cut the luxury of my bundled internet/cable/television from my current budget. I have a little cell phone that I buy minutes on ($30 mo) so I can stay in contact with people. However, since I took the new job this month, I am facing a bit of a financial crunch. I know that God will supply all my needs - but is Internet/telephone/ cable really a NEED or is it just a WANT?

[Anon]

Internet is DEFINITELY a need. :wink

[IM4given]

Internet is DEFINITELY a need.

When I was working from my home-based office - yes it was definately a NEED - I could not do business otherwise. However, now that I am no longer in business for myself, I really do not NEED the Internet to conduct my daily life stuff - it is more for fun and to stay in touch with all my Internet friends more than anything else. :wave:

[John81]

Funny, our pastor brought this sort of thing up during his sermon today. He pointed out how what we consider "needs" today are very different from 50 years ago.

He said today, if the microwave goes out or if our computer goes down and we can't access the internet we cry "crisis" and start scrambling to figure out how to get those "needs" back.

[JerryNumbers]

Without internet I feel most of us would feel lost as a goose. :tum