2009 Depression News Update

25 Responses to “2009 Depression News Update”

1. fabdrabcrab says:

   February 3, 2009 at 2:44 pm

   Too much talk—– not enough REAL info
2. lespuppet says:

   February 6, 2009 at 5:41 pm

   two parents went out for
   dinner. A few hours later, the babysitter was
   calling to ask if she could cover up the clown
   statue in the kids’ room, the father
   said,Take the kids and get out of the
   house. We’ll call the police, we don’t have a
   clown statue. The clown
   statue? is really a killer that escaped
   from jail. If you don’t post this to
   10 videos today, the clown will be in your
   bed at 3 am with a chainsaw in his hand
3. brisngr9021 says:

   February 9, 2009 at 5:17 pm

   oh shut the hell up.
   we all know your a retard who doesnt know what hes talking about.
   your ’sources’ are proably tabloids.
   L.A times, etc, are usually just tryin to freak ppl out. ask a reporter who aint afraid to say it.
4. GaryNull says:

   February 11, 2009 at 9:21 pm

   >> Get ready to lose your job, house, car.

   Only have my car left. I rent.
5. onemindonespirit says:

   February 14, 2009 at 12:30 pm

   Excellent comment, captain obvious.
6. TruthandJustice101 says:

   February 14, 2009 at 8:31 pm

   2009 = GREAT DEPRESSION
   Get ready to lose your job, house, car.
7. GaryNull says:

   February 18, 2009 at 6:43 am

   >> First of all, owning real estate is not taking advantage of people….

   Not all landlords are good people. In my 28 years of renting, half have been great, half have been total scum.
8. homer30 says:

   February 20, 2009 at 5:14 am

   “The common idea that America is an immensely rich and affluent country is very much an exaggeration. American affluence is heavily mortgaged. American carries a tremendous burden of debt to its poor people. That this debt must be paid is not only a wish of the do-gooders. Not paying it implies a risk for the social order and for democracy as we have known it.”

   Gunnar Myrdal
9. onemindonespirit says:

   February 23, 2009 at 7:27 am

   First of all, owning real estate is not taking advantage of people. That’s a very socialist way of thinking. What’s next? Everything should be free and no one should own anything.

   Secondly, my two tenants are paying their rent just fine thus far thank you.
10. MillionthUsername says:

    February 25, 2009 at 2:12 pm

    FDIC covers deposits. Bad loans are what disappears. They would have disappeared at a future date if paid and the bank would have its profit, but now it means their liabilities exceed assets so they’re insolvent.

    All banks will not go broke unless everyone demands cash in a panic. Looks like they avoided panic for now. What will happen depends on what the gov’t does at each stage, or the people. I agree that “we’re screwed either way.” Hopefully only for a time.
11. MillionthUsername says:

    February 25, 2009 at 5:13 pm

    The *prices* of homes and stocks fell, but no _money_ was destroyed. The actual money just changed hands the last time those things were sold.

    The bailouts ARE inflation. They want to re-inflate the bubble. All they can do is print or borrow since they have no money.
    Deflation likely a flash in the pan.

    But hyperinflation goes beyond the mere increase in money supply and prices. It’s destabilizing to the whole of society. At some point, enough people lose faith in the currency that
12. 1693B says:

    February 27, 2009 at 9:00 pm

    I agree again, but when a bank goes broke, the digital money they hold or the value in their ledgers simply disappears. If there is a huge amount of paper currency in circulation however, you can still have inflation.
    What I see today though, is banks going broke but a severe shortage of paper cash in circulation. The total value of all paper currency in our system doesn’t come anywhere close to the total value of assets in our economy. If the banks go broke and the markets crash, then what?
13. 1693B says:

    March 1, 2009 at 6:43 am

    I see what you are saying but I heard somewhere that total bank and market losses add up to something like 50 trillion dollars. The bailout money doesn’t come close to that and asset values, especially houses, aren’t anywhere near bottom yet. The dollar value will collapse but so will most values of the assets in our economy.

    This time is different and I just don’t think we can predict hyperinflation based on historical examples. We’ll have to wait and see. Either way, we’re screwed.
14. MillionthUsername says:

    March 4, 2009 at 8:35 am

    “In Germany, after the first World War, the paper money actually existed”

    They had fractional reserve banking and checkbook money just like we do. We use less paper currency only because of technology (credit and debit cards).

    When they made loans then, they were also creating checkbook money. It was just as “digital” as ours is. You don’t need a computer for digital money. You enter it in a ledger. That’s the nature of fractional reserve banking. FRB will always do that.
15. MillionthUsername says:

    March 6, 2009 at 11:33 pm

    The “digital dollars” DO exist. They are parked in bank accounts and other claims as units of account and figure into pricing just like commodity money would.

    What disappears in a bust is the claim on future income in dollars (debt written off), so it’s deflationary. The bailouts are monetizing the bad debt, so that’s inflationary. But it takes time to manifest.

    I don’t think the supply of paper dollars is really relevant here.
16. homer30 says:

    March 8, 2009 at 8:01 pm

    tsk, tsk, Depression follows War
17. inflateablesoulmate says:

    March 11, 2009 at 11:27 pm

    not paper… REAL GOLD.. they can flood the banks with actual bullion … NOT TO back the dollar but to CRASH THE GOLD MARKET… WHY!?… so the dirtbags that run the show can scrape up more illigitimate claims… Insider trading all that. Its been announced already way back in the spring time. They didnt exactly use those words but that is exactly what is going to happen.and theres a video here somewhere
    Its going to happen. sell sell sell. next week your gold may only be worth 350/oz USD
18. dojufitz says:

    March 12, 2009 at 7:16 pm

    Lets see what happens IF the Comex defaults in Feb…..a hidden surplus of paper gold?
    The Fed can print as much as it wants and create digital dollars over and over….borrowed time my friend…..
19. inflateablesoulmate says:

    March 15, 2009 at 4:40 pm

    HIDDEN slurplus… sorry
20. inflateablesoulmate says:

    March 19, 2009 at 1:33 am

    8000/gold… lol
    ya like thats gonna happen.
    Have a look around fool
    Gold wont even reach 1000 before it dives down to -400 when the fed floods the market with their hidel surplus.
    WAKE UP!
21. sailfished says:

    March 21, 2009 at 4:20 pm

    from what i’ve seen those that are awake are awake, those that are asleep will not wake up
22. dojufitz says:

    March 23, 2009 at 12:03 pm

    VV,
    where do you see the DOW\Gold ratio next year?
    Do you think the DOW will crash or will Gold go up to $8000US oz?
23. PrettypOeroses1 says:

    March 24, 2009 at 2:36 am

    people are very sleep these days. cold water has to be thrown for folks to wake up
24. dave777blaster says:

    March 25, 2009 at 9:03 pm

    When the NAU comes and it is coming
    Gold and silver will be reset with new values
    as the NAU will go to silver coinage.and gold coinage too perhaps.
    So watch out for 2010 the NAU comes into effect then
    Do not get burnt to a cinder on this
25. ehswan says:

    March 25, 2009 at 11:21 pm

    If you know a jeweler you may, through him, buy precious metal “casting grains” at close to spot with no delays in delivery.