8/11/2011


Is history repeating itself again ? The great depression of 1929, what
is your opinion ? Mine....We're headed right down that path..Read on..

http://en.wikipedia.org/wiki/The_Depression


Cheers..Joe

Joe, the patters are similar.
What continues to amaze me is how people respond to rumors. Instead of making a buying decision for stock on the strength of the company, they respond to the actions of others that engage in fear. They cause things to happen that they don't want to happen. People start selling, they sell. People start buying, they buy. It is a gamble.

8/11/2011


The stock market will always be like a roller coaster,
as far as gold goes, I do believe it will drop and drop
fast. I was always told you buy low, never high ! The
article I attached above is a great reading of American
history and I do believe young people should read it ..
Steinbecks " The Grapes Of Wrath," is a great book and
film on the subject.

Cheers..Joe

wouldn't it be great if our dollar was still backed by Gold?

Would gold be where it is if it still backed the US dollar?

Ann

8/11/2011


I think we should back our dollar with gold, I remember
in 1968 when gold was $40.00 an ounce, times have
changed...

Cheers..Joe

I think it will be worse than the great depression.

Why? We are a global economy and the world has too many problems.

The Tea Party has overlooked a few things in its self-righteous cutting of spending.

My advice--spend your money. You wil help a business and have something.

Go out to eat, take a vacation, ignore the news
They will still be whinging when you get home

Joe, your comments brought back memories of those meager years that began in 1929. I was not ten years old, but remember the hard times being discussed as though I were. I didn’t know they were hard times at that age and felt it was a way of life. Following the depression came the war years – a continuation of austerity. The frugal mindset helped them overcome the shortages. There were rationing stamps that included food items as well as things like gasoline.
Women took jobs in factories doing the work formerly done men.
What sticks with me is how people banded together within the community, helping one another. They traded ration stamps to get things they needed. Today they would probably be labeled communists or socialists. How sad it is to turn something good, like helping your fellow man, into a stigma of something bad. The family was important. Children took care of their parents in old age.
So what happened to this communal mindset or mentality? When did the feeling of “me” replace the “we” mentality? I don’t know the cause, but it appears to have happened after the war. Seeking independence, many kids left the farm and migrated to the cities seeking greater opportunity for prosperity. That was seen as progress and the sign of the times.

Not every one made it and many returned home for security. The security net was the family unit. I’m guessing here, but it seems that as the family units declined, the independent workers needed a security net and that was provided by the government.

As we are on the brink of a new recession/depression, it is time to consider ways to survive. Helping one another is highly significant. The “me” must be turned into “we”. “United we stand, divided we fall” is a truism. Food, clothing and shelter remain as the basic human needs. In tough times, the “wants” take a backseat. That doesn’t mean we should not aspire for better condition to fulfill the wants, but that our priorities require adjustment.

Giving without the thought of return (what’s in it for me), is not easy to do with the programmed mentality of “me”.

I can’t recommend a specific book to read, but I can suggest seeking information about the hard times of the past and looking for the grit that turned the bad times into the good times.


Check out the following URL about the Great Depression of 1929. http://useconomy.about.com/od/grossdomesticproduct/p/1929_Depression.htm

“What Ended the Great Depression of 1929?
In 1932, Franklin Delano Roosevelt was elected President based on his promises to create Federal Government programs to end the Great Depression. Within 100 days the “New Deal” was signed into law. This created 42 new agencies designed to create jobs, allow unionization, and provide unemployment insurance. Many of these programs, such as Social Security, the SEC (Securities and Exchange Commission), and FDIC (Federal Deposit Insurance Corporation) are still here today, helping to safeguard the economy.
However, the extent of the Great Depression was so great that government programs alone could not end it. Unemployment remained in the double-digits until 1941, when the U.S. entry into World War II created defence-related jobs”.

Back to Joe's original question: "Is history repeating itself?

Apparently:

Quote:

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. "People must again learn to work, instead of living on public assistance." Cicero - 55 BC

Ann,



When you are right, you are so right. There is nothing much new under the sun.

We will see, what will happen. Many Europeans talk about a coming breakdown of the EU. Germany has big debts, like every other nation. We will see.

I guess, the unhistorical age of liberalism is turning towards history, it's means that the time start building up history again. As you everyone know, the history need hardship to be seen.

That's true, Harry. Every change requires a time of struggle before it is realized.

Ann

Things still aren’t as dire as they were during the Great Depression. I read on Shmoop that people felt so hopeless by 1933 that over 100,000 Americans tried to emigrate to Soviet Russia to find employment in that year alone. The fact that people are still trying to migrate to USA says something about our current economic position.

Natalie,



Welcome! You are just what we need and want--a member who posts. How absolutely amazing. Tell us about yourself.