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(History Channel)   Are we heading for another Great Depression? Will this be the Greatest Depression? Any thoughts?   (history.com) divider line
    More: Scary, Wall Street Crash of 1929, Great Depression, Herbert Hoover, Unemployment, country's banks, stock market crash of October, United States, Franklin D. Roosevelt  
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289 clicks; posted to Discussion » on 26 Jun 2020 at 1:50 PM (9 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



32 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2020-06-26 1:55:54 PM  
Bigly Depression
 
2020-06-26 1:59:24 PM  
"Stocks were bought on credit like many other commodities in the '20s. Millions of investors paid as little as 25 percent of the face value of a stock, and paid off the balance when the stock was sold after the price went up. This practice of buying on margin contributed to the rampant speculation in the market. Americans who had no knowledge of what to do in the market put their money in "investment trusts," a forerunner of today's mutual funds, and let professionals determine which stocks to buy. Everybody profited as long as prices continued to go up, and the market value of stocks did climb from $27 billion to $87 billion between 1925 and 1929.

...

"In the wake of the crash, caution replaced speculation in how people spent their money, which in turn affected the ability of the economy to recover. Installment buying in the '20s had masked the fact that most Americans did not earn enough to purchase the number of goods being produced. As consumer spending declined, companies cut back production and fired employees."

Beginnings of the Great Depression
 
2020-06-26 2:00:07 PM  
I think it'll be The Great Volatility more than a depression. A Lost Decade, if you will.
 
2020-06-26 2:00:43 PM  
Just so it is not the Last Depression.
 
2020-06-26 2:01:06 PM  
The Great Depression is our lives.
 
2020-06-26 2:03:18 PM  

whidbey: The Great Depression is our lives.


I am Jack's complete lack of surprise.
 
2020-06-26 2:07:59 PM  

Nadie_AZ: whidbey: The Great Depression is our lives.

I am Jack's complete lack of surprise.


i think we are done here.
 
2020-06-26 2:09:39 PM  
I should buy land.
 
2020-06-26 2:17:01 PM  
Yes.  And President Biden will get blamed for it.
Just in time to repeat the cycle of GOP idiocy in 2024.
 
2020-06-26 2:33:59 PM  
The Impeached President Donald John Trump Depression.
 
2020-06-26 2:34:09 PM  
No.

On a lighter note, the Great Depression happened when I received my report card in school.
 
2020-06-26 2:36:10 PM  

Tad_Waxpole: Yes.  And President Biden will get blamed for it.
Just in time to repeat the cycle of GOP idiocy in 2024.


While that is the precedent and standard operating procedure for republican administrations after they've driven the country into a ditch, I'm optimistically hopeful that the voters won't buy that bullshiat this time.
 
2020-06-26 3:50:51 PM  

syrynxx: Bigly Depression


Correct; if for no other reason that there are shiatloads more people to deal with than there were in 1930. Widespread disaster looms, and we are nearly helpless.
 
2020-06-26 4:04:37 PM  

TaDu: Tad_Waxpole: Yes.  And President Biden will get blamed for it.
Just in time to repeat the cycle of GOP idiocy in 2024.

While that is the precedent and standard operating procedure for republican administrations after they've driven the country into a ditch, I'm optimistically hopeful that the voters won't buy that bullshiat this time.


Two ways to counter that:

1) Pour shiat loads of money into direct support of poor. Tax the rich (just temporarily you understand). Tax the shiat out of the very rich. Winning control of Senate is crucial for this

2) Lower expectations. Under promise and over deliver. Right from start warn that it will be a long haul, and that can't fix Trump's failures overnight.

Trump presidency predicted by 'The Simpsons'
Youtube VXcYMvzZ7jk
 
2020-06-26 4:23:32 PM  
Basic fundamentals are weak - domestic consumer demand is down because too many people don't have an income or fear they won't have an income after July, and international demand is down because the whole world is going into a recession.

A downward spiral that can only be reversed by pouring money into the very lowest levels of the economy
 
2020-06-26 4:25:25 PM  
Trump is waiting for October to start a war. So no depression.
 
2020-06-26 4:28:58 PM  
Brother, Can You Spare A Dime?
Youtube eih67rlGNhU
 
2020-06-26 4:29:25 PM  

Markoff_Cheney: I should buy land.


Fark user imageView Full Size
 
2020-06-26 4:50:48 PM  
Fark user imageView Full Size

He managed to bankrupt a casino. Never forget!
 
2020-06-26 5:03:02 PM  

Markoff_Cheney: I should buy land.


Nothing beachfront, though.
 
2020-06-26 5:14:56 PM  
Conflict follows periods like this almost always.
 
2020-06-26 5:50:20 PM  

syrynxx: Bigly Depression


Fark user imageView Full Size
 
2020-06-26 6:12:52 PM  
Yeah, I think pretty much everybody is depressed now.
 
2020-06-26 6:53:17 PM  
The BEST Depression.

/Hoover was an amateur
 
2020-06-26 6:53:38 PM  
Without massive  government intervention we'd be in a depression. That intervention can't last forever. I suspect that Trump is purposefully emptying the larder so that his successor will be doomed to failure. Democrats won 5 consecutive presidential elections due to Herbert Hoover.
 
2020-06-26 7:24:30 PM  
The Great Depression will be on the left when Trump gets re-elected.

/Biden has the same lead Clinton did four years ago
/He's obviously senile
/He's a worse campaigner than Hillary
 
2020-06-26 7:32:03 PM  

Markoff_Cheney: I should buy land.


Got a house for ya. Goes live July 6th..

/in Cleveland
//mid century colonial
///god I hope the market holds
 
2020-06-26 7:38:06 PM  
The people in 1929 didn't know they were in the depression already.  It took quite a while for the effects of the stock market to trickle down to normal life.

We are already in a depression.  We have not hit bottom yet and we won't for months or even a year or two.
 
2020-06-26 7:55:12 PM  

Not_Todd: The Great Depression will be on the left when Trump gets re-elected.

/Biden has the same lead Clinton did four years ago
/He's obviously senile
/He's a worse campaigner than Hillary


You're obviously a bootlicker.
 
2020-06-26 9:01:29 PM  
i have buried gold. i'm ok
 
2020-06-26 9:05:16 PM  
 If Trump is re-elected, no.  if not, count on it.
 
2020-06-27 9:10:46 PM  
Trump is causing my depression
 
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