The Depression & Today's Economy: Is it Panic Time?

[88888FORCE]

US Stocks Slump,

DJIA Posts Worst Two Days Since Nov. '08

Sept-22-2011--NEW YORK (Dow Jones)--Investors staged a global flight from risk Thursday that sent the Dow Jones Industrial Average to its worst two-day point drop since November 2008, after a gloomy outlook by the Federal Reserve renewed fears of an economic slowdown.

The Dow Jones Industrial Average fell 391.01 points, or 3.51%, to 10733.83, for a two-day loss of 5.92%. Investors barrelled out of stocks and into "safe" assets.

[emuguy2003]

CLOCK IS TICKING INTERRACIAL COUPLES 5 TO 6 YEARS.

[emuguy2003]

America was created to be a country of wealth on the divided lines of Mexico. White men sent black people over here to be slaves right. In today's time they are trickery people to deal with.

True white women and hispanic women enjoy their Black companion now. After China takes complete charge along w/ Mexico in this country.

It will suck BIG TO HAVE AN INTERRACIAL RELATIONSHIP W/ HISPANIC OR WHITE WOMEN TO BLACK MEN

[emuguy2003]

Why won't the statistics show higher unemployment above 25%? Very simple we Americans don't keep track of unemployment like we used to. People are receiving unemployment checks allot less longer then they used to.

Half the Country today is receiving Disability. Why was Barrack Obama elected as president? It's simple really, "American's have a homeless state of mind today."

America is the worst it has ever been and who supports America the most. The answer is, "Mexico."

[ajgolfer1]

i love these journalism majors talking about economics

[soylentgreenb]

Unemployment as measured by U6 is already close to great depression levels; the only difference is unemployment insurance, and that may all disappear when government can no longer sell more bonds.

There are thousands of failed banks. Virtually every single bank that has failed has been undercapitalized by 10-50%. I.e. the FDIC is permitting banks to outright lie about their assets as it is supposed to take over a bank BEFORE it starts taking losses.

[soylentgreenb]

It doesn't "seem likely" that the government will repeat the mistakes of the great depression?

Mainstream economists are clueless as to the cause of the great depression. Hoover embarked on the most massive interference in the economy by any president up to that date, only to be superceeded by FDR.

The great depression didn't happen because the government did too little; it happened because the government did too much. That's the mistake that's being repeated today.

[soylentgreenb]

The real crisis hasn't happened yet. The real crisis comes when the US government is no longer able to run trillion dollar deficits with no end in sight.

When that happened the government has to cut back expenditures by 50-75% _over night_; all the temporary stimulus goes out the window.

[inkey2]

don't believe this "so called" expert. You just can't keep printing paper money backed by thin air and expect things to get better

[joelito101]

I loved the pictures of the Old Couple!! :x

[homelessadvocate]

Poverty is by design.

[MrsSarb]

The Federal Reserve CAUSED the Great Depression. There never would have been a Great Depression if the Federal Reserve had not created the bubble that lead to the depression in the first place. Then they throttled the economy on top of it all and robbed the people of all their wealth to boot. Remember....the Federal Reserve is NOT a government entity...it is a private bank that creates the dollars we now call money.

[caganb]

let the printing presses run 24 hours a day. This will solve everything

[MrsSarb]

I bet that's sarcasm isn't it! hehe

Yeah make the dollar worthless.

Another thing that happened during the depression that no one talks about is how all the wealth was stolen from the people thru the gold confiscation by the government. Steal from the people and give to the wealthy. Prop up big business but let the people suffer and tax them even more. Drop money from helicopters if that is what takes...right Ben Bernanke?

[Decebal825]

the ratio of debt to GDP in the US is now more then TWICE that of the 1929 depression.

and whats more GDP is overstated.

yes a little hyperinflation will fix everything

[inkey2]

WORST CASE SCENEREO: USA currency, paper money, is no longer backed by gold and silver. Coins are no longer gold and silver. Our paper money is backed by nothing more than faith in the US Government. The fed will keep printing more and more paper money to cover the big bail outs....inflation will spiral out of control to the point where usa currency is basically toilet paper.

[tinpan2112]

The Deppresion wont hold a candle to whats going to happen. Back then we were building factorys and and industry's. all gone,we now have a goverment out of controll.Over poppulation. You cannot put all these people back to work.more than half are uneducated.And the factorys are gone.The anarchy has just begun, and hell is comming to dinner.

[centervilletn]

it is nice to think we cannot go into another depression but unfortunately the reality is quite the opposite. The U.S. is not immune to systemic failure anymore than Iceland or Russia. The goverment may be propping up the banks but they are destroying the currency. The "Tri-Polar Economic System being devised by europe and the us is an attempt to soften the expected inflation caused all the printing and creation of currency that propped up the banks....hyperinflation is what is waiting

[lastimeichecked]

Very interesting. Loved the elderly couple.  Really puts things into perspective. Not sure what dave4708 is talking about. Maybe he didn't watch the whole video. It specifically says the government today is helping to make sure the banks don't fail.

[GrenadeChick99]

Gee whilliker's! I wish I could have a Pollyanna view toward all that is happening in the U.S. today!

OMG! Are you even bothering to watch different news shows and doing other things to educate yourself about this current situation? You really should.

[lucariotrainer9]

Check out the date of the post, before you comment, GrenadeChick. Times have gotten much worse quickly. But, dah, I guess you don't actually follow the news.

[dave4708]

What is not mentioned on this video is that we won't allow our banks to fail now.Printing money does not solve problems just prolongs the inevitable collapse by causing extreme inflation.

[mazmorjad]

This gives a great overall look back at why we're so far from Great Depression levels. During the Great Depression government was lax or did the exact wrong thing to stimulate the economy. Franklin Roosevelt ordered all the banks to close for a "bank holiday" and many never opened again. Being inactive instead of proactive was a key problem. We've learned from history and are trying to avoid the same mistakes. Let's hope it works!

[chromedreamz]

at the 2.30 part- this contradicts themselves- this is crazy- Great depression here we come- this video is soo backwards- as far as # of bank failures, back then their were hundreds of small banks- now their are all big banks that go under- their werent as many BofA's back then