BabushkaLady
1st November 2011, 11:07 PM
October 31, 2011
Slouching toward the 1930s
By Monty Pelerin
The current economic crisis rivals the one of the 1930s. Despite shameless propaganda by government and its cronies in the media, people understand that the situation is getting worse. Consumer confidence continues to decline as does confidence in the future.
We are headed for an event that history will record as worse than the Great Depression. It is unavoidable.
The Level of Debt
The principal reason for the dire prediction is the level of debt outstanding. Current debt levels are simply not sustainable. Assets and cash flows cannot support or service this debt.
No economic recovery can occur without massive debt reduction. As shown below, current debt is much higher than the 1930s:
Full article with graphs at link:
http://www.americanthinker.com/2011/10/slouching_toward_the_1930s.html
===================================
Good article! The best part is the very last paragraph at the link:
Our best outcome is a Depression tomorrow. Better sooner than later. That is what politicians have provided. Hopefully they will not "do something" but "just stand there." The economy needs to be left alone. Their help is killing us. Hyperinflation will truly destroy.
Slouching toward the 1930s
By Monty Pelerin
The current economic crisis rivals the one of the 1930s. Despite shameless propaganda by government and its cronies in the media, people understand that the situation is getting worse. Consumer confidence continues to decline as does confidence in the future.
We are headed for an event that history will record as worse than the Great Depression. It is unavoidable.
The Level of Debt
The principal reason for the dire prediction is the level of debt outstanding. Current debt levels are simply not sustainable. Assets and cash flows cannot support or service this debt.
No economic recovery can occur without massive debt reduction. As shown below, current debt is much higher than the 1930s:
Full article with graphs at link:
http://www.americanthinker.com/2011/10/slouching_toward_the_1930s.html
===================================
Good article! The best part is the very last paragraph at the link:
Our best outcome is a Depression tomorrow. Better sooner than later. That is what politicians have provided. Hopefully they will not "do something" but "just stand there." The economy needs to be left alone. Their help is killing us. Hyperinflation will truly destroy.