Talk of a 'new great depression' goes mainstream

[midnight rambler]

“When we broke the link between money and gold (http://www.cnbc.com/id/48191480), this removed all constraints on credit creation. This explosion of credit (http://www.cnbc.com/id/46896289/States_With_the_Best_Credit_Scores) created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression,”

http://www.cnbc.com/id/48193471

[Libertytree]

Them cracking the door open to reality, just so they can say we told ya so. If ya watch you can see them doing this ever increasingly.

[Serpo]

New sig Liberty.........{0}


Of course all the networks have been onto this for years now..............hahaha

[palani]

credit cannot expand any further because the private sector is incapable of repaying the debt it has already
Things that are impossible will not be done. But then consider for a moment. The creation of debt is done upon a wet ink signature of the one asking for the credit. The asset removed from a bank is equal to the asset created (the note and mortgage). On this basis there is no debt. The promise to pay was all that is required to discharge the debt.

For the life of me I cannot understand why everyone is unbalanced enough to want to pay more than is required.

[Santa]

I was at the grocery store talking to the cashier. I said, "I haven't seen you in a while, where you been?"
She said, "They cut back our hours."

I went to the Hardware Store. An older man in line said, "The service here is terrible."
The cashier said, "They cut back our hours. We're working with half a crew."

And so it goes.

[Twisted Titan]

I was at the grocery store talking to the cashier. I said, "I haven't seen you in a while, where you been?"
She said, "They cut back our hours."

I went to the Hardware Store. An older man in line said, "The service here is terrible."
The cashier said, "They cut back our hours. We're working with half a crew."

And so it goes.



The dreaded postive feedback loop........ the more it happens..the worse thing become until it blows itself out in a crack up boom.

[Barbaro]

Talk of a 'new great depression' goes mainstream

I read the article too. I noticed that it's one of the first (or first?) that I've seen in the Mainstream Media.

I think this might mean 2 things, at least.

1. Confidence for many, many, people is weak. Confidence, or lack thereof, if powerful. It affects everything we do.

2. More and more of the common public (people that get all/almost all of their information from the MSM) are now cognizant of the possibility of tough and tougher times ahead. The days of "foolish optimism" have waned.