Affected in a very negative way. Sorry, I left a word out. See my channel for what videos I have in favorites, like Videos from Mike Maloney, and you will see proof
The great depression affected most investments in a very way. But for people who purchased gold and silver bullion, they accumulated the wealth lost from all the negative. The Richest people in history, made their fortune off the back of negative investment declines. The wealth is never ever lost, it never disappears, it simply transfers to another asset class. Today, you can buy an ounce of silver for $45 or less. If we see stock market crash, and decline of U.S. Dollar, watch silver fly. See
The Federal State/Bank Embezzlement 63 percent inflation of the money supply during the 1920s caused the economic contraction of 1929; Hoover's criminal socialist policies extended it 3+ years; FDR's criminal socialist policies extended it for 11 years; and Truman's criminal socialist policies extended it until 1947.
The Federal State/Bank Embezzlement 63 percent inflation of the money supply during the 1920s caused the economic contraction of 1929; Hoover's criminal socialist policies extended it 3+ years; FDR's criminal socialist policies extended it for 11 years; and Truman's criminal socialist policies extended it until 1947.
Let's see, I think I counted quotes from 17 Graduates or represntatives of Ivy League Universities here. But how can that be? President Obama said the answer to America's problems is more education!
Fact is, People with normal value systems constantly under estimate the drive and greed of Wall Street. They set this housing bubble up from the start so they could reap TRILLIONS in profits from average people. What do you think a Credit Default Swap is, but insurance on self-created destruction
@farmboycarl How did 'they' do that? The housing bubble was fueled by expansion of credit, even most Keynesians don't deny this anymore. There are many factors in expansion of credit but when somebody is steering it, blame them.
It's a poor prospect to begin with when the economy of a nation is driven by real estate and housing. Like, Hey! who will live in and pay for all those new houses? When would it stop? When the rest of the world moves here and our beautiful country is paved over and is one big housing complex? There will have to be some room left for agriculture. Look what has happened to Southern Cal. All the beautiful country that was used in the making of movies, movie ranches and the like are now residential.
I think it's apparent that if these so-called 'Experts' had any idea what was actually going to happen, they only told what the public wanted to hear, which happened to be the complete opposite, in order to prevent mass hysteria and riots or simply save their own asses. Higher-ups have been bullshitting the little people for centuries.
AMERICAN HOME PRICES ARE RISING IN MOST STATES 500,000 FOR 3 BEDROOM HOMES ARE AVERAGE AND SELLING OUT ALL ACROSS AMERICA I DO NOT SEE ANY BUBBLE IN THE NORTHEAST ITS BOOMING THERE
foreclosing?.Get all the paperwork and knowledge you need to use the produce the note and even more power to stay in your home, for just 198. Dont pay several hundreds or even thousands, go to stop or delay foreclosure online, and use the discount code 7128098. This washington dc agency gave me everything I needed to have the needed leverage to get my lender to deal fairly with me. you can also find them online at homeowners assistance info, and remember to use your discount code 7128098,
BTW - any good real estate investor knows there's really only ONE reason a house doesn't sell . . . the price. ANY property will sell IF the free market allows.
When greedy, materialistic Americans wake up on Jan 2, 2006 groggy,sick and bloated from an orgiastic spending binge they will have a lot to worry about. Major economic indicators are pointing toward a real messy time for the greedy ole USA. At the top of the list in the near term is a MAJOR correction in the housing market, this will have a ripple effect in many american sectors. So go ahead refinance your house so you can pull the equity out of it and buy your stoopid kids Bratz wigger dolls.
STOP BLAMING THE FEDS! You elected them and they are listening to the highest bidders (Lobbyist). Stop the lobbyist and stop giving businesses personable rights. Businesses are not people, only people are people. Even back in the 30's we tried to create these sub-human entities that in turn had the power of millions. That power killed children then and will do it now. BTW, this is a good video!!! I hope more will watch it.
Legitimate economists were right then...and they were right in the 90's when we warned congress to stop forcing FNMA and FDMC to fill their portfolios with substandard loans.
I remember Barney Frank and Chris Dodd telling us we were idiots...literally. They said we didn't know what we were talking about and they had "inside information" that guaranteed that no recession could be brought about by an artificial mortgage market.
We walked away in disgust. It's time to fire them all...vote 'em out
It might seem hopeless...but we could clean house if we really get the vote out...or get a good start on a housecleaning. If nothing else...think of good it would feel to seem them getting pink slips :-)
Except for one problem: Ninety percent of all voters are idiots, and will vote for someone based on entirely superficial qualities rather than policy issues. And of the other ten percent, the majority are voting for who will give them free shit.
I'm not sure it's 90%...but the last presidential election certainly proved it was at least 52%...
:-)
Keep the faith my friend...I'm thinking a bunch of 'em are going to get their asses kicked come November...
Oh...and it will be real interesting to see what happens to Murtha's seat...weird poetic justice that situation. He robs millions from us...then insists on free surgery at Bethesda instead of paying for it somewhere else...then dies from the surgery. Fate works in mysterious ways.
Yes, but I'm a libertarian, so the fact that some of the Democrats might be replaced by Republicans only makes me feel marginally better, and only insofar as it causes gridlock.
So am I...gridlock is our goal at the moment. Only by keeping them from passing new "protections" against our foolish selves, and from passing any new taxes, disguised as "aid", are we going to survive this economic crisis. I'm praying for "gridlock."
The reality is had they not bailed them out, their system of greed and theft would have finally come crashing down they have been robbing the American people blind for over 50 years under the guise of democracy. They ever bail out banks again and its time for my Ar15 to put some tennis ball sized holes in senators faces.
Maybe then they start listening to the people again people need to make their government fear them again. Right now they are making their system of greed and theft limp along barely a few good pushes and its over we rebuild and we cut them out this time. All political parties are abolished, All private donations are considered bribes. I wish for the crash everyday America will be a better place once the truth comes to light.
Lets look on the bright side, at least we would not have to hold our breaths on gas prices going below $2.00 a gal. anymore. But I could be wrong though.
World Factbook info, California as an independent state, it would have had the 10th largest economy in the world in 2007.
July 09 California #1 foreclosures at 108K
U.S. 360,000 for 1 month!
Go To: Google maps, select REAL ESTATE @ right options box. Check FORECLOSURES, zip code 91739 and watch the search area w/PINS of homes in foreclosure. MINDBLOWING! zip 91739 the Inland Empire. Ground zero
CA CML RE @ 30% vacancy rate! 5 yr bloodbath more at: CaliforniaRE2009 blogspot
the reason for the bubble and the depression are one and the same.. the FED loaned money at low rates to do speculative buying. in the 1920's it was stocks, in the 1980-2000's it was for homes and consumer goods.. the FED then called in the loans causing the stock market collapse & rush on the banks. they then constricted the money supply which resulted in factory closings...today they raised interest rates on adjustable mortgages, sold worthless investments labeled as AAA grade assets
PS.. loans on speculative stock buying artificially high priced stocks the value of the toxic assets fell constricting the money supply since the FED uses debt to create the money supply producing layoffs..massive debt due to deficit spending falling real income due to the inflated debt created by the FED ..the bottomless pit of the fiat debt economy of the FED.. the FED recession-boom cycle..just like in 1929 the uncontrolled greed resulted in depression instead of recession
I had a friend purchase 14 homes here in Houston in the 80s when we had a far more depressed housing market than today & he averaged a profit of $30K on them.
You can't do that today in Houston as our housing mkt has remained fairly strong & it looks like we'll have a housing shortage by summer, but there are other areas where you'll be able to make a nice profit.
Inasmuch as I'm in Houston I've been buyiing stks recently & 2 have already doubled.
Interesting comparison of claims from current and depression era "experts" . How wrong many of them were.
What is missing from this video is the causes of the stock bubble and crash and the housing bubble and crash. Neither one happened by accident, but by the covert actions of "Money Masters." Many people are to blame, including the Democrats who pushed programs to get people into houses they couldn't afford.
Wow! Three years ago and so correct! I grew up in the 80s and always heard how the 80s were so greedy. Well, the 80s had NOTHING on the 2000s - you had to have the right house in the right neighborhood, the right purse, the right shoe, the right vacation, I could go on for hours. And most of these purchases via credit cards!
what even lucid people are not getting is that you cant restore trust, remove fear, and lessen resistance, unless you put a ban on housing price hikes, people fear economic growth even more than recession because growth increases prices on crucial human necessities, the rules of the game have changed its not just supply and demand anymore.
Regardless of where you live, the economy is hugely painful...the "go-go" days and party are over; it's time to pay the price. FederalHomeLoanMods(dot)com
well....if you think about it....all these experts usually never want to say anything bad about the market because just saying it publically could cause a slide
There is a housing bubble, but its not nationwide. He in California the bubble is bursting and taking 50% of house values. In New York, Nevada, Florida, and Michigan the bubble has burst aswell. However, this affects the nation because these states are broke and in need of a bailout also.
I would not trust any economist. It's all politics and for their benefits. If they are in their business to make money, then you should never ask them for their EXPERT opinion.
there are some economists that are really on the ball but, like peter schiff, jim rogers, jim plaplava and probably plenty more. These people often pre-empt the govt, although none of them predicted that the people behind the curtain would have done something suicidal like bringing oil down this far
the system in based on credit expansion, and once things start going its only going to get worse, bad credit, bad auto loans, and alternative loans to the tune of 3 trillion$. The housing crisis a mere 2 trillion is just the beggining, stock up on rice and oat meal. relaize this. Go on marketwatch blogs, the educated are preparing. not one person in optimisitc
It's funny, everyone wants "change" to a more liberal government... too bad Bush has been the most far left president we've EVER had...
Conservatives are supposed to CONSERVE not run the defecit up to over 10 trillion
If anyone know's leftists, it's Hugo Chavez...
"Bush is to the left of me now," Chavez told an audience of international intellectuals debating the benefits of socialism. "Comrade Bush announced he will buy shares in private banks." Soooo much government intervension.
You misinterpret what left is. Bush is for big business, and is bailing out big business. Left is for social programs and giving everyone the right to use public property. Hence a left person would be for roads, beaches, parks. Bush is bailing out banks and speculators, not building libraries.
A conservative, isn't for big business, he's for free market and as a result it just happens to be that companies can become big if the government does not intervene with the marketplace. Bush, by bailing out big companies is showing leftist inclinations.
Yes, this is true. Definitions of politics are confusing in that people that call themselves a "member" of which they are not in ideals with. Arnold Swartssnegger, Pelosi, Bill Clinton. The list goes on.
Free market vs Command market. Which is better, which is more economical. I've argued this point for a while. Democracy is expensive! Some countries, like Afghanistan (the fifth poorest country in the world) can ill afford a democracy, nor can it afford its armies and police.
Bush has hurt this country badly. More military has a cost to our society. The jobs it provides, either low pay for soldiers or high pay for weapons developers who will be unemployeed if the wars stop.
Dow Jones could fall to 5000 points sooner or later. Inflation could come to an end. Goods, equity, gold, etc. has been greatly overvalued. It is time for prices of materials to fall back to an equilibrium state. Nothing much can be done by governments around the world especially the
G8 countries. Bailout is unwilling but deemed necessary by spending government money (taxpayers $).
financial markets. Central Banks overprinted money. Money itself has become less valued.
The recent severe stock market crashes around the
world has vapored up so much money. US dollar depreciates. If we look at foreign exchange carefully, not only US dollar sinks, but currencies elsewhere around the world are depreciating. For example, when Aussie central bank cut rates recently, Aussie dollar depreciates against US dollar immediately.
A major difference between the Great Depression and the current financial crisis is Inflation/Deflation. The great depression was caused because the Fed was tightening the credit market during a time of deflation. Right now, we have an over expanded credit market and inflation (not deflation). I think we have a better chance of a hyperinflation environment than a Great Depression environment. During the Depression, our currency was too strong.
Well yes, but ultimately, hyperinflation and Depression lead to the same ends, poverty and starvation. So, this will be a hyperinflationary depression.
The most evil occult called the Illuminati intentionally started the first great depression and now their next agenda is to make 1929 look like a picnic. Then they will force everyone to get the R.F.I.D. Chip implanted into their right hand or forehead and those who refuse the chip won't be able to buy or sell with their bank accounts. It's also tracking device. Google and Youtube - Svali, Illuminati, New World Order, R.F.I.D. Chip and start researching on your own. Don't be dumb sheep study
Get ready boys. Save your nickles,at home, not in the bank (coins not paper money). Buy Scotch and other liquers, cigarettes, canned meats, and any other item that can easily be traded on the black market. Learn to fish, hunt, and plant victory gardens. Most of all, pray.
why, so the leaders have an excuse to put in martial law? no... not a good idea. Think of something more productive... unfortunately I don't know what, other then to become a paranoid retard with a foil hat living in a homemade underground bomb shelter with a 10 year supply of food.
This is what I think.The Democrats, under Clinton, strengthened a government-created monster called the "Community Reinvestment Act." This law was then used by "activists" and "community organizers" (like Obama?) to coerce lending institutions to make these bad loans ... millions of them. Some people don't need to own a house !!!
You know, I wouldn't mind seeing the '08 or '09 parallels now. I think there has been enough said and done in the last year alone to make a two hour reel.
Great video, good choice of accompanying music, I hope you update your blog more often :) !
Sometimes it is necessary to tear something down in order to build something else. This was the REAL reason behind the 1929 crash Look closely at the All Seeing Eye on the back of the 1 dollar Federal Reserve NOTE. Annuit Coeptis Novus Ordo Seclorum - latin for Announcing the birth of the New World Order. Another motto of these Globalist scum is this one - Ordo Ab Chao : Order out of Chaos. Obama or McCain two wings of the same Bird. Council on Foreign Relations Scum.
" In order to crush the Middle Class, it is necessary to grind them between the mill- stones of taxation and inflation. " Vladamir Lenin Who do you think runs your country? The Federal Reserve is a Communist Entity, A Central Bank. It was American Bankers and Industrialists like Henry Ford and the JP Morgan Company that finaced the 1917 Communist Revolution. The 1929 Crash was manipulated to destroy America in order to rebuild it.
nooriginalthoughts is an apt name for you. what is the solution of the communists leaving their comments on this page? capitalism CANNOT FAIL because it is the representation of our human nature. People naturally want to trade and improve themselves without the interference from government. by the way, the crisis is now moving to europe and asia. diversifying into swiss franks would be a horrible idea at this point. get some education asshole!
thats right my children sell those fancy cars and big houses i just sold mine and built a massive bunker filled with all living necessory food and water somewhere in the middle of desert anyone care to join me
What's the point? Your country is fucked. This is deja vu all over again. WWIII is literally any time now. Your country is BANKRUPT. And when the Baby Boomers retire, it will finish it off. Just as Britain started WWI when they were bankrupt but still had designs on ruling the world, so too is the USA now. If you have sold your shit and have cash, convert it to Swiss Francs and get the fuck out of America (would be my advice). Or, stay and live in a hole in the desert, but why bother...
Alot of these Economists assumed that the FED would do it's job to help the depression but instead the FED destroyed money. That's why so many of them thought it wasn't going to last long.
You reduce the budget deficit by cutting spending. By the way, the "rich" pay the vast majority of the taxes in the USA. Something like the top 1% pays almost 50% of the social costs. Exxon pays 49% income tax as do many of the big corportations. Who are you to decide what other people "need" and "do not need." Hitler, Stalin, and Mao thought they could presume to know the needs of others as well. I do agree that bailouts are bullshit. GOLD STANDARD and real capitalism is the answer. Ron Paul!
"Something like the top 1% pays almost 50% of the social costs"
I don't think that is accurate, but let us go with that for a moment- the other 99% pays for over 50%.
The money held by the middle-class is far more important to the economy in that it is far more likely to move and be liquid, and is far more likely to be spent at home. Not to mention that the money spent on taxes means more to middle-class than to the rich.
You are wrong. Capitalism WILL fail, as predicted by Marx. However, what will follow will not be socialism for the benefit of society. What will follow will be a brutal dictatorship (like "IngSoc" in 1984), facilitated by the technology that has been leading up to this point. FUCK your "computer and latte" comment. The Holocaust could only happen because of the CUNTS at IBM and their Punch Card machines being sold to Hitler. Look up on Amazon "IBM AND THE HOLOCAUST". Capitalism is slavery.
Okay Shutupforjustice. USA can pursue Keynesian reflation with what money? Already running a deficit and Americans have a huge debt. I guess you would print up some fresh bills like the Germans in 1923-1924. Have a look at them burning money to keep warm because the worthless D Mark paper was worth more than wood. Capitalism never worked? Try Ronald Reagan, or I guess you were on the side of the Soviets at that time. Maybe you were not born yet? Thank capitalism for your computer and latte!
Any real solutions out there folks? Going to scapegoat the "speculators," the Jews, the Canadians? Socialism basically got the US into this mess with an unfunded war in Iraq, tax cuts, and too much social welfare spending. Overthrow capitalism! Workers of the world unite! :) Funny shit reading these postings!
Here is how to solve this mess. 1) guarantee the debt of the major banks 2) stop spending on the military 3) privatize social security and freeze taxes 4) progressively reduce the budget deficit over the next few years 5) DO NOT wage wars with foreign countries and instead make the USA the most competitive country in the world again. NAFTA is your friend, protectionism/Communism is not! IF the US still had the GOLD STANDARD we would not have gotten into this mess in the first place!
I agree with 2), 4) & 5) but I don't see how privatizing social security would have a good impact on the people. The only people against social security are the top 5% of Americans who are so rich they don't need it. The majority of Americans not only want it, but they are willing to pay taxes for it. Since democracy is majority rule, I don't see how this is a problem. As for freezing taxes, how could we then reduce the budget deficit?
The time has come to galvanize and throw the bums out in 2008, and 2009! McCain and Obama both cannot be trusted! The Democrats and Republicans have destroyed the USA. I'm voting for a 3rd Party again in 2008. The Great Global Depression II is here and so is War WAr III.
got a better system in mind? how about nazi fascism or soviet style communism? maoism was a good system, eh? capitalism is the best economic system that we have. gold standard, free trade, mobility, and limited government is what we need right now.
the banks are going to bring us down because of their idiotic loan lending and investments; it is because of this greed that the rest of us will suffer for...& already you see the govn't use our own tax dollars to bail out Bear Sterns and now Fannie Mae, Freddi Mac soon to go under! Fannie & Freddi own or guarantee $5 TRILLION worth of mortgages (about half of US home debt)!! Do you know what would happen if they go under? Liquidity will be lost and you'll see more banks fail-another depression?
We don't need more unregulated laissez-faire capitalism, in fact this has never been 100% EVER, so how could it possibly work now? What we need is more government oversight to make sure these banks aren't involved in risky idiotic actions- which they have no qualms about since they realize the government won't let them fail. I have nothing against capitalism, but I agree with Keynesian economics, you need a strong govnt in order to provide stability.
I'm surprised that American realtors and home owners nationwide haven't started a national protest movement to burn all the bank-owned foreclosure properties....
1)
it would drastically improve the housing market and
2)
they would actually get something for their tax money being confiscated by Congress to pay off the distressed banks who hold the titles. How many titles the Fed (they caused the bubble with too low interest rates) has received from banks as collateral?
Those with negative equity and struggling with their mortgages ,will probably have to burn their "own" houses piece by piece this coming winter ,starting with the skirtings and architraves if projected increases in heating fuel are true .
For those interested ,one metre of skirting will produce about 10 kilowatts Architraves about 5 kilowatts per metre .i sujest leavig doors and floorbords till the last on account of the increased draft
easy for rich politicians and celebrites to support far left political ideologies and power economies while the rest of the wolrd goes homeless and starves to death because of inflation, its ok though rich politicians and celebrities will be ok, you know, ( its the fuck you,im alright! syndrome wealthy people and politicians have)
This comment has received too many negative votesshow
if you knew anything about politics you would know that the only time they put a fake republican party in office is when the lefties are losing tyranical power! the republican party is to keep clean of wrongdoing liberal parties and maintain a good image they dont even have. opposing politcal parties are fake and are to keep up appearances with the public.
The housing bubble is at its core a land speculation bubble. The real estate for profit game is a land speculation game because only the value of land/locations appreciates. Land value is 100% created by the community as a whole so when private individuals cash in on increased land value they pocket a value they do not create. It is the motive to pay more for land than it is really worth hoping the next guy comes along. The last guy just came along. Google "Henry George" for further insight.
its not a speculation bubble, the housing market prices are strictly and only affected by politicaly engineered inflation and wallstreet is the 2nd inflation engine, economic power leads a country to a desolate labour slave trainwreck of status inequalities and poverty, wich is all orchestrated AND COLLABORATED by politicians bankers and the US war machine. Get your head outta the sand box.
you could buy a house for 80.000 with a 550$ rent in 97 now theYre 200.000$ with rents over 1200$ no one can afford a home anymore because of politicaly engineered housing inflation! politicians are sending the new generaqtion straight to poverty and homelessness while the rest who already have a home live in luxury and cheap rent!fuck all politicians destroy esoteric facism for good support a presidentless leaderless country abd get a piece of happiness in this lifetime OR BE ENSLAVED
american politics wont even allow american peOple the freedom to own tax free land, so that they can send citizens to the gutter through inflation and tax rise! the only free poeple are the ones who dont pay property tax! yes natives! they have all the services and no tax! WHILE WE GET ENSLAVED INTO POVERTY HOMELESSNESS AND DISGRACE! NO SUCH THING AS APPARTMENT BUILDINGS ON NATIVE RESERVES! THATS TRUE FREEDOM! NOT THAT FAKE SHIT DEMOCRACY THEY FILL YOUR ASS WITH on tv
@lucidgenius88 I am 1/32 native American. I wish i was full blooded, not for tax free land, but to not be a slave and be forced to support corrupted government and corporations.
Too bad Americans are sooo brainwashed that things will never change...
America will become a thrid world country in our life time, but this is not the 1930's and it will have a very different ending... ending as in the end of a country...
POLITICIANS are the crib of the economic engine and are responsible for all rises in inflation all reforms and vetos and revolts and societal poverty! presidents are the ones responsible negating property rights through legalised extortion such as rising taxes rising home costs (when wallstreet can) all forms of cost inflation and rising costs is politicaly engineered! dont be swayed by lies
and bullshit on CNN trying to render innocent politics from the societal collapsing effects it creates
Optimism is good to see. It's true, there doesn't have to be a violent crash. But let's not fall in the mistakes this very video is warning us about. We have to take steps to change what's wrong and make better policies.
yes. land owners also did not like the idea of having an empty house and worse off having unknown squaters live there so many tenants were fortunately allowed to stay in their homes without paying. I wonder if that kind of generosity is still around.
I hope you and Harry Dent are wrong. Sure doesn't look like it though. I drove that guy from the airport in 2000. And got a free version of the speech he got paid 50k to give Bear Sterns on their yearly Vail trip... Guess they didn't listen.
I wouldn't worry about it to much. The world is highly connected at this point. So as the US economy tanks the rest of the world will try to save themselves by slowing the crash. Also with such a decline, energy collapse would be so devastating on agriculture and manufacturing that it may trigger a revolution. Re-localisation will be the new trend. Look towards old city downtowns. Their picking back up and that trend will continue. Many will lose homes though, this will result in cheep land.
As an investor I'm kinda hoping for it. I still rent, just started a small landscape company in a town where the only requirement employers ask of employees is a pulse. I also just finished paying off every debt I had. So I'm not worried about my survival at all.
I just see no real economic strength in any sector of any economy. Even India could be crushed by the US suddenly stops spending a dime more than it needs to.
very good, as a young person I would really like to see land prices fall as well. I've been quite frugal the past few years to avoid any debt myself. Oh landscaping, versatile.
I've noticed that as well. Lets just hope for a slow decline that eventually forces the US, into an evolutionary transition to a broad and dynamic energy market (no crashes please). Not just one energy source on the market? how exciting!
It's all in place when you think about it. Most of the technology is there but it hasn't had a chance to compete in the same ballpark as oil.
But if we, as a country, blew our lode on real-estate right about the time food and oil skyrockets... Alt. energy will be a major contender and it wont have anything to do with the environment.
Yes, I know. The nation will be just like the 6 million dollar man. We have the technology... Even on todays market its competitive. You don't get enough solar to power your house. Just enough to keep you in the range were its 25 cents a kilowatt hour. Once you go over a certain amount they start to charge more per kilowatt hour every 100 kilowatt hours or so. Cleaning up ground water then turning a profit on land, I think will be big. So many new markets are just around the corner!
Land prices must fall because the housing bubble is really and only a land speculation bubble that has burst. History proves that people like to speculate with land because land value is entirely created by the community and cashing in on it allows one to reap what others have sown. Ownership of land value that comes along with land ownership is an entirely unearned value and income as land is rented or sold. It is the free lunch of which there isn't supposed to be any. Pimping Mother it is.
"Professor, without knowing precisely what the danger is, would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?" Professor "Yes I would, Kent."
I think the fed. incesantly cutting interest rates to satisfy wall street and promote borrowing and spending instead of saving some money like in the past is a big culprit. Although the consumer had a lot to do with it borrowing to live beyond their means while their wages were flat and with their house prices being cut in half and swimming in dept they can never hope to repay with no wage increases. The fed and consumers gambled the party would never end now they will drag many down with them.
The people who put Bush and the Republicans in office are responsible for this. He has doubled the National debt in 8 years. He added more to the debt than than all of the previous presidents in 225 years. He believed in guns and butter. Cut taxes, raised spending. With the democrats gave us the most destructive trade bills in the nations history. Within a year the average European family will have a greater net worth than the average American family.
Federal reserve needs to own more private property,Government,creates problem,reaction & solution=control,Grow to much food the Government would survey farmers land & plow it under= socialism Obama global poverty Tax 7% of GNP + carbon tax = $15.00 a gallon Gas
War got people productive again.CONTROL=Globalism NWO transalantic union
they both pretend theiyre for freedom but theyre tyrrants, they wont even allow you the freedom to own land. if land isent tax free, you dont own it, you own the title to it. Nothing else. Eminent domain owns your land and they work for politicians. Property taxes is a mafia system of extortion.
no its not its due to fact that people are sick of paying taxes for land they already own. minimum wage (aka slave wage), high housing inflation, and consequent rent hikes is why people cant pay rent nor afford anything else, and go homeless.
For example, thirty years ago you could not pass 9th grade math without a basic understanding of algebra. But, there isn't one adult in fifty who are able to use the most simple algebraic formulas to solve a problem. That's because they just figured a way to give the right answer on the simple tests. It wasn't necessary to know how to apply the concept.
Even with a chief executive that perpetuates deception of such a magnitude, illegitimate appeal to authority apparently can't be stopped; LEARN TO THINK FOR YOURSELVES, OR OTHER PEOPLE WITH THINK FOR YOU, AND OFTEN TO YOUR OWN DETRIMENT!
THE PRESIDENT: Yesterday I did comment upon that, that there was a -- I talked about the different scenarios that I had been briefed on about whether or not there would be a precipitous decline in housing or whether it would be what one would call a soft landing, and it appeared at this point that it looks we're headed for a soft landing. And that's what the facts say.--------
exactly, idiot nation. brainwashed till absurdity. I'm so sad that americans forgot what they stand for. Forgot constitution, forgot their pride, forgot WHY they are great - LIBERTY. Bunch of SHEEP deserved what they got. They had voted for their president - they got it. Middle class will be destroyed and 1 rich will rule 1000 SHEEP who watched FOX NEWS and believed what IDIOTS on TV where telling them.
More people voted for Al Gore and John Kerry than voted for Bush. The elections were handed to Bush, first by the secretary of state in Florida and supreme court in 2000, then by the secretary of state in Ohio in 2004. Both these secretaries of state that controlled the state elections were openly part of Bush's election teams!
While the housing sector is very very bad, the great depression itself had characteristics that can't really be repeated...there will be modern equivalents, but you will not see a soup line or tent cities. If people loose their job, and loose their home, they end up in low income apartments supported by welfare and food stamps.
The point of a depression is there is no money. No money meaning no welfare. It probally won't be as bad as the last one as we can do thing far more efficently. We have vaste storages of food so i don't think anyone will starve but 3rd world counrties get alot of support from the west so i think they will starve
If there is an economic calamity food shortages will be much greater this time because in the 1930's a much larger percentage of the population were farmers growing their own food, and, more food was grown locally. People are hoarding gold and silver whlen they should be worried about what to eat.
Today's food supply comes from multinational corporations. Distribution of the food depends upon the economic system which is cracking. If it cracks the distribution system will be gone. Do you think the food conglomerate will simply go on producing food for people who can not pay?
It comes from multinational corporations because that's how liberals set it up. They wanted to tie countries together. So if one falls they all fall. Also, about this sub prime crisis, people shouldn't be in a mortgage they can't afford. Liberals screamed redlining to the banks. So the banks started lending money to unqualified people.
A Conservatives is someone that thinks their way is the only right way and that everyone else is wrong and they have a right to force people to do things their way.
A Liberal (liberty) is someone that acknowleges the right of all people to be free to chose what they believe and recognizes that the world changes.
This is not a game. It is a shame people even admit they are conservative.
liberal conservative same diff, these people support housing inflation, and rising taxes to drive people out of their homes and into poverty, this forces people to desperate things to sustain themselves such as slavery. inflation would eventualy give the wealthy the right to own slaves (formerly the middle class) middle class and commoners all would become slaves to wealthy elitists of society.
"Liberals screamed redlining to the banks. So the banks started lending money to unqualified people."
I've seen this floating around a lot since NY Post article. It's just BS. Nobody forced lenders to make unsound loans. Ever. It's actually true though that liberals called for less regulation. And now conservatives, who are usually the ones digging in their heels against regulation, are blaming loose regulation. How ironic.
>People are hoarding gold and silver whlen they should be worried about what to eat. I think it's wise to lay in a supply of both gold and food to start with. It's also wise to garden, evaluate your career for how depression resistant it is, and get debit free while there's still money to do it with. I have a few awkwardly filmed videos posted detailing my preparations for peak oil and what I see as an economic depression that's headed our way. Buckle up everyone!
You said it your self-"Depression" Depression means PRICE DEPRESSION OR DEFLATION, NOT INFLATION.
The problem with gold is you must pay a huge premium because most people think gold will save them. You will lose that premium and much more if there is a depression because depression means prices are depressed.
At this time, when there are dozens of other stores of wealth requiring no premium and thus smaller price depression losses, it makes no sense to buy gold.
Another great depression is comming....We had to learn from the past but seems that we didn't
cedulashabitabilidad 2 months ago
Affected in a very negative way. Sorry, I left a word out. See my channel for what videos I have in favorites, like Videos from Mike Maloney, and you will see proof
MalibuLimo 8 months ago
The great depression affected most investments in a very way. But for people who purchased gold and silver bullion, they accumulated the wealth lost from all the negative. The Richest people in history, made their fortune off the back of negative investment declines. The wealth is never ever lost, it never disappears, it simply transfers to another asset class. Today, you can buy an ounce of silver for $45 or less. If we see stock market crash, and decline of U.S. Dollar, watch silver fly. See
MalibuLimo 8 months ago
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The Federal State/Bank Embezzlement 63 percent inflation of the money supply during the 1920s caused the economic contraction of 1929; Hoover's criminal socialist policies extended it 3+ years; FDR's criminal socialist policies extended it for 11 years; and Truman's criminal socialist policies extended it until 1947.
qwertypoiu4321 10 months ago
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The Federal State/Bank Embezzlement 63 percent inflation of the money supply during the 1920s caused the economic contraction of 1929; Hoover's criminal socialist policies extended it 3+ years; FDR's criminal socialist policies extended it for 11 years; and Truman's criminal socialist policies extended it until 1947.
qwertypoiu4321 10 months ago
Let's see, I think I counted quotes from 17 Graduates or represntatives of Ivy League Universities here. But how can that be? President Obama said the answer to America's problems is more education!
Fact is, People with normal value systems constantly under estimate the drive and greed of Wall Street. They set this housing bubble up from the start so they could reap TRILLIONS in profits from average people. What do you think a Credit Default Swap is, but insurance on self-created destruction
farmboycarl 11 months ago 2
@farmboycarl How did 'they' do that? The housing bubble was fueled by expansion of credit, even most Keynesians don't deny this anymore. There are many factors in expansion of credit but when somebody is steering it, blame them.
s0beit 8 months ago
It's a poor prospect to begin with when the economy of a nation is driven by real estate and housing. Like, Hey! who will live in and pay for all those new houses? When would it stop? When the rest of the world moves here and our beautiful country is paved over and is one big housing complex? There will have to be some room left for agriculture. Look what has happened to Southern Cal. All the beautiful country that was used in the making of movies, movie ranches and the like are now residential.
charliepc56 1 year ago
It's time to save n hit da mall
Shopping will eAse ur pain
0rvp0gi 1 year ago
I think it's apparent that if these so-called 'Experts' had any idea what was actually going to happen, they only told what the public wanted to hear, which happened to be the complete opposite, in order to prevent mass hysteria and riots or simply save their own asses. Higher-ups have been bullshitting the little people for centuries.
LuigiGodzillaGirl 1 year ago
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Fredrickdf 1 year ago
AMERICAN HOME PRICES ARE RISING IN MOST STATES 500,000 FOR 3 BEDROOM HOMES ARE AVERAGE AND SELLING OUT ALL ACROSS AMERICA I DO NOT SEE ANY BUBBLE IN THE NORTHEAST ITS BOOMING THERE
amcanmike 1 year ago
I think the lesson here is that...no one really knows what they are talking about....:-)
MrCrackerman1 1 year ago 5
All those words were from cheerleaders, cheering for the losing teams..
cyclenut 1 year ago
Peter Schiff was right.
DystopianUtopia 1 year ago
They're not wrong, they're LYING. Jews.
nVei06 1 year ago
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7129098 1 year ago
I recommend everyone go live in their cars.
AcePilot2009 1 year ago
They want people to continue to purchase homes so they can keep this scheme that they have going.
DirtyVegas7 1 year ago 2
most working class in australia cannot get a morgage, so whats the point in working? end of dream.
rystrttn1 1 year ago
You can live your dream without owning a god damn home. If your dream is only to own a house you're in trouble.
moniequa 1 year ago 3
BTW - any good real estate investor knows there's really only ONE reason a house doesn't sell . . . the price. ANY property will sell IF the free market allows.
wurlitzergroup 1 year ago
When greedy, materialistic Americans wake up on Jan 2, 2006 groggy,sick and bloated from an orgiastic spending binge they will have a lot to worry about. Major economic indicators are pointing toward a real messy time for the greedy ole USA. At the top of the list in the near term is a MAJOR correction in the housing market, this will have a ripple effect in many american sectors. So go ahead refinance your house so you can pull the equity out of it and buy your stoopid kids Bratz wigger dolls.
tickyul 1 year ago
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Watch my video
watch?v=j7I_eFoIk64
It's about earth shift. Earth shift: One huge continent became 2 continents, then 5 (or 6) and then?
fridaysabtu 1 year ago
STOP BLAMING THE FEDS! You elected them and they are listening to the highest bidders (Lobbyist). Stop the lobbyist and stop giving businesses personable rights. Businesses are not people, only people are people. Even back in the 30's we tried to create these sub-human entities that in turn had the power of millions. That power killed children then and will do it now. BTW, this is a good video!!! I hope more will watch it.
jehjeh007 2 years ago
filthy 3 hole chick tiny[.]cc/doherhole
CyzypuNuxowoki 2 years ago
Legitimate economists were right then...and they were right in the 90's when we warned congress to stop forcing FNMA and FDMC to fill their portfolios with substandard loans.
I remember Barney Frank and Chris Dodd telling us we were idiots...literally. They said we didn't know what we were talking about and they had "inside information" that guaranteed that no recession could be brought about by an artificial mortgage market.
We walked away in disgust. It's time to fire them all...vote 'em out
professorofliberty 2 years ago
Heh heh heh. Tell me when voting actually makes the state less idiotic and destructive. To me, it's right up there with the flying pigs.
WAMill3R 1 year ago
It might seem hopeless...but we could clean house if we really get the vote out...or get a good start on a housecleaning. If nothing else...think of good it would feel to seem them getting pink slips :-)
professorofliberty 1 year ago
Except for one problem: Ninety percent of all voters are idiots, and will vote for someone based on entirely superficial qualities rather than policy issues. And of the other ten percent, the majority are voting for who will give them free shit.
WAMill3R 1 year ago
I'm not sure it's 90%...but the last presidential election certainly proved it was at least 52%...
:-)
Keep the faith my friend...I'm thinking a bunch of 'em are going to get their asses kicked come November...
Oh...and it will be real interesting to see what happens to Murtha's seat...weird poetic justice that situation. He robs millions from us...then insists on free surgery at Bethesda instead of paying for it somewhere else...then dies from the surgery. Fate works in mysterious ways.
professorofliberty 1 year ago
Yes, but I'm a libertarian, so the fact that some of the Democrats might be replaced by Republicans only makes me feel marginally better, and only insofar as it causes gridlock.
WAMill3R 1 year ago
So am I...gridlock is our goal at the moment. Only by keeping them from passing new "protections" against our foolish selves, and from passing any new taxes, disguised as "aid", are we going to survive this economic crisis. I'm praying for "gridlock."
professorofliberty 1 year ago
@professorofliberty
Hmmmm....where is Murtha now? Looks like God heard you :)
ugha323a 11 months ago
The reality is had they not bailed them out, their system of greed and theft would have finally come crashing down they have been robbing the American people blind for over 50 years under the guise of democracy. They ever bail out banks again and its time for my Ar15 to put some tennis ball sized holes in senators faces.
xiola6969 2 years ago 9
Maybe then they start listening to the people again people need to make their government fear them again. Right now they are making their system of greed and theft limp along barely a few good pushes and its over we rebuild and we cut them out this time. All political parties are abolished, All private donations are considered bribes. I wish for the crash everyday America will be a better place once the truth comes to light.
xiola6969 2 years ago
very timely message, even here in 2009. Can you update?
spoiledbrat1440001 2 years ago
And people are still in denial right now. My sister told me that the economy is getting better and "how low can housing prices go?"
Pretty low
lambchopxoxo 2 years ago 2
Lets look on the bright side, at least we would not have to hold our breaths on gas prices going below $2.00 a gal. anymore. But I could be wrong though.
Jayc2400 2 years ago
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World Factbook info, California as an independent state, it would have had the 10th largest economy in the world in 2007.
July 09 California #1 foreclosures at 108K
U.S. 360,000 for 1 month!
Go To: Google maps, select REAL ESTATE @ right options box. Check FORECLOSURES, zip code 91739 and watch the search area w/PINS of homes in foreclosure. MINDBLOWING! zip 91739 the Inland Empire. Ground zero
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BizReporter1 2 years ago
the reason for the bubble and the depression are one and the same.. the FED loaned money at low rates to do speculative buying. in the 1920's it was stocks, in the 1980-2000's it was for homes and consumer goods.. the FED then called in the loans causing the stock market collapse & rush on the banks. they then constricted the money supply which resulted in factory closings...today they raised interest rates on adjustable mortgages, sold worthless investments labeled as AAA grade assets
victor2cutube 2 years ago
PS.. loans on speculative stock buying artificially high priced stocks the value of the toxic assets fell constricting the money supply since the FED uses debt to create the money supply producing layoffs..massive debt due to deficit spending falling real income due to the inflated debt created by the FED ..the bottomless pit of the fiat debt economy of the FED.. the FED recession-boom cycle..just like in 1929 the uncontrolled greed resulted in depression instead of recession
victor2cutube 2 years ago
yes but who runs the fed ??? the anwser to this lies with the same monsters bringing us agenda 21 and codex alumentarius we are fooked :(
grilfers 2 years ago 2
Out of adversity comes opportunity.
I had a friend purchase 14 homes here in Houston in the 80s when we had a far more depressed housing market than today & he averaged a profit of $30K on them.
You can't do that today in Houston as our housing mkt has remained fairly strong & it looks like we'll have a housing shortage by summer, but there are other areas where you'll be able to make a nice profit.
Inasmuch as I'm in Houston I've been buyiing stks recently & 2 have already doubled.
DillonX 2 years ago
I wonder if Mr. N will return our essay back to us.
sheerforpleasure 2 years ago
Interesting comparison of claims from current and depression era "experts" . How wrong many of them were.
What is missing from this video is the causes of the stock bubble and crash and the housing bubble and crash. Neither one happened by accident, but by the covert actions of "Money Masters." Many people are to blame, including the Democrats who pushed programs to get people into houses they couldn't afford.
HammerofHeretics 2 years ago
Wow! Three years ago and so correct! I grew up in the 80s and always heard how the 80s were so greedy. Well, the 80s had NOTHING on the 2000s - you had to have the right house in the right neighborhood, the right purse, the right shoe, the right vacation, I could go on for hours. And most of these purchases via credit cards!
lovesautumn 2 years ago
what even lucid people are not getting is that you cant restore trust, remove fear, and lessen resistance, unless you put a ban on housing price hikes, people fear economic growth even more than recession because growth increases prices on crucial human necessities, the rules of the game have changed its not just supply and demand anymore.
Hose8N 3 years ago
Regardless of where you live, the economy is hugely painful...the "go-go" days and party are over; it's time to pay the price. FederalHomeLoanMods(dot)com
LouieFrias 3 years ago
well....if you think about it....all these experts usually never want to say anything bad about the market because just saying it publically could cause a slide
inkey2 3 years ago
Take a speed reading course before watching this video.
spitoncat 3 years ago 2
? The speed was easy.
smasila 2 years ago
There is a housing bubble, but its not nationwide. He in California the bubble is bursting and taking 50% of house values. In New York, Nevada, Florida, and Michigan the bubble has burst aswell. However, this affects the nation because these states are broke and in need of a bailout also.
Lucky7wins 3 years ago
Thumbs down to this video....words come and go too fast, I dont want to pause every 5 seconds.
arutledg 3 years ago 2
I just looked up the first quote's owner, irvin fisher. He was a eugenicist lol
fox20012 3 years ago
I would not trust any economist. It's all politics and for their benefits. If they are in their business to make money, then you should never ask them for their EXPERT opinion.
kismyask 3 years ago
there are some economists that are really on the ball but, like peter schiff, jim rogers, jim plaplava and probably plenty more. These people often pre-empt the govt, although none of them predicted that the people behind the curtain would have done something suicidal like bringing oil down this far
fox20012 3 years ago
the system in based on credit expansion, and once things start going its only going to get worse, bad credit, bad auto loans, and alternative loans to the tune of 3 trillion$. The housing crisis a mere 2 trillion is just the beggining, stock up on rice and oat meal. relaize this. Go on marketwatch blogs, the educated are preparing. not one person in optimisitc
Jakemcstud 3 years ago 2
It's funny, everyone wants "change" to a more liberal government... too bad Bush has been the most far left president we've EVER had...
Conservatives are supposed to CONSERVE not run the defecit up to over 10 trillion
If anyone know's leftists, it's Hugo Chavez...
"Bush is to the left of me now," Chavez told an audience of international intellectuals debating the benefits of socialism. "Comrade Bush announced he will buy shares in private banks." Soooo much government intervension.
crazypokermike 3 years ago 2
You misinterpret what left is. Bush is for big business, and is bailing out big business. Left is for social programs and giving everyone the right to use public property. Hence a left person would be for roads, beaches, parks. Bush is bailing out banks and speculators, not building libraries.
pukaman2000 3 years ago
A conservative, isn't for big business, he's for free market and as a result it just happens to be that companies can become big if the government does not intervene with the marketplace. Bush, by bailing out big companies is showing leftist inclinations.
Signofarchangel 3 years ago
Yes, this is true. Definitions of politics are confusing in that people that call themselves a "member" of which they are not in ideals with. Arnold Swartssnegger, Pelosi, Bill Clinton. The list goes on.
Free market vs Command market. Which is better, which is more economical. I've argued this point for a while. Democracy is expensive! Some countries, like Afghanistan (the fifth poorest country in the world) can ill afford a democracy, nor can it afford its armies and police.
pukaman2000 3 years ago
Bush has hurt this country badly. More military has a cost to our society. The jobs it provides, either low pay for soldiers or high pay for weapons developers who will be unemployeed if the wars stop.
pukaman2000 3 years ago
Dow Jones could fall to 5000 points sooner or later. Inflation could come to an end. Goods, equity, gold, etc. has been greatly overvalued. It is time for prices of materials to fall back to an equilibrium state. Nothing much can be done by governments around the world especially the
G8 countries. Bailout is unwilling but deemed necessary by spending government money (taxpayers $).
MancAlter 3 years ago
Looks like we made the 5000 point drop you predicted.
pukaman2000 3 years ago
There has been too much money in the global
financial markets. Central Banks overprinted money. Money itself has become less valued.
The recent severe stock market crashes around the
world has vapored up so much money. US dollar depreciates. If we look at foreign exchange carefully, not only US dollar sinks, but currencies elsewhere around the world are depreciating. For example, when Aussie central bank cut rates recently, Aussie dollar depreciates against US dollar immediately.
MancAlter 3 years ago
A major difference between the Great Depression and the current financial crisis is Inflation/Deflation. The great depression was caused because the Fed was tightening the credit market during a time of deflation. Right now, we have an over expanded credit market and inflation (not deflation). I think we have a better chance of a hyperinflation environment than a Great Depression environment. During the Depression, our currency was too strong.
genyav 3 years ago
Well yes, but ultimately, hyperinflation and Depression lead to the same ends, poverty and starvation. So, this will be a hyperinflationary depression.
Justgetout 3 years ago
The most evil occult called the Illuminati intentionally started the first great depression and now their next agenda is to make 1929 look like a picnic. Then they will force everyone to get the R.F.I.D. Chip implanted into their right hand or forehead and those who refuse the chip won't be able to buy or sell with their bank accounts. It's also tracking device. Google and Youtube - Svali, Illuminati, New World Order, R.F.I.D. Chip and start researching on your own. Don't be dumb sheep study
Jamescobrien 3 years ago 2
James you are spot on on that post.!
People will never believe it until it is so eveident they cannot escape
wolffl60 3 years ago
The Wang Wang Blues, by Isham Jones, on Brunswick?
Inspired musical choice.
It was the best selling record during the first Depression of the 1920's (1921-23)
Vitanola 3 years ago
Get ready boys. Save your nickles,at home, not in the bank (coins not paper money). Buy Scotch and other liquers, cigarettes, canned meats, and any other item that can easily be traded on the black market. Learn to fish, hunt, and plant victory gardens. Most of all, pray.
reginaDexant 3 years ago 2
America MUST RIOT if this bail out plan for the criminals goes through.
Dandaniels1978 3 years ago
why, so the leaders have an excuse to put in martial law? no... not a good idea. Think of something more productive... unfortunately I don't know what, other then to become a paranoid retard with a foil hat living in a homemade underground bomb shelter with a 10 year supply of food.
crazypokermike 3 years ago
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This is what I think.The Democrats, under Clinton, strengthened a government-created monster called the "Community Reinvestment Act." This law was then used by "activists" and "community organizers" (like Obama?) to coerce lending institutions to make these bad loans ... millions of them. Some people don't need to own a house !!!
kirkslastbid 3 years ago 2
You know, I wouldn't mind seeing the '08 or '09 parallels now. I think there has been enough said and done in the last year alone to make a two hour reel.
Great video, good choice of accompanying music, I hope you update your blog more often :) !
... And take care.
Starry2000 3 years ago 2
POPULATION CONTROL is the real DEPRESSION,it has been done many times before.
Print the paper,to steal the real wealth of the peoples/nations
When that money games is up you than KILL the SHEEP and start the game up again.
deepmindquest1 3 years ago
100005556 3 years ago
" In order to crush the Middle Class, it is necessary to grind them between the mill- stones of taxation and inflation. " Vladamir Lenin Who do you think runs your country? The Federal Reserve is a Communist Entity, A Central Bank. It was American Bankers and Industrialists like Henry Ford and the JP Morgan Company that finaced the 1917 Communist Revolution. The 1929 Crash was manipulated to destroy America in order to rebuild it.
100005556 3 years ago
nooriginalthoughts is an apt name for you. what is the solution of the communists leaving their comments on this page? capitalism CANNOT FAIL because it is the representation of our human nature. People naturally want to trade and improve themselves without the interference from government. by the way, the crisis is now moving to europe and asia. diversifying into swiss franks would be a horrible idea at this point. get some education asshole!
ericclaptonismygod31 3 years ago
thats right my children sell those fancy cars and big houses i just sold mine and built a massive bunker filled with all living necessory food and water somewhere in the middle of desert anyone care to join me
rocky038 3 years ago
What's the point? Your country is fucked. This is deja vu all over again. WWIII is literally any time now. Your country is BANKRUPT. And when the Baby Boomers retire, it will finish it off. Just as Britain started WWI when they were bankrupt but still had designs on ruling the world, so too is the USA now. If you have sold your shit and have cash, convert it to Swiss Francs and get the fuck out of America (would be my advice). Or, stay and live in a hole in the desert, but why bother...
nooriginalthoughts 3 years ago
Alot of these Economists assumed that the FED would do it's job to help the depression but instead the FED destroyed money. That's why so many of them thought it wasn't going to last long.
DaveDoggOwns 3 years ago
You reduce the budget deficit by cutting spending. By the way, the "rich" pay the vast majority of the taxes in the USA. Something like the top 1% pays almost 50% of the social costs. Exxon pays 49% income tax as do many of the big corportations. Who are you to decide what other people "need" and "do not need." Hitler, Stalin, and Mao thought they could presume to know the needs of others as well. I do agree that bailouts are bullshit. GOLD STANDARD and real capitalism is the answer. Ron Paul!
ericclaptonismygod31 3 years ago
"Something like the top 1% pays almost 50% of the social costs"
I don't think that is accurate, but let us go with that for a moment- the other 99% pays for over 50%.
The money held by the middle-class is far more important to the economy in that it is far more likely to move and be liquid, and is far more likely to be spent at home. Not to mention that the money spent on taxes means more to middle-class than to the rich.
Starry2000 3 years ago
You are wrong. Capitalism WILL fail, as predicted by Marx. However, what will follow will not be socialism for the benefit of society. What will follow will be a brutal dictatorship (like "IngSoc" in 1984), facilitated by the technology that has been leading up to this point. FUCK your "computer and latte" comment. The Holocaust could only happen because of the CUNTS at IBM and their Punch Card machines being sold to Hitler. Look up on Amazon "IBM AND THE HOLOCAUST". Capitalism is slavery.
nooriginalthoughts 3 years ago
Okay Shutupforjustice. USA can pursue Keynesian reflation with what money? Already running a deficit and Americans have a huge debt. I guess you would print up some fresh bills like the Germans in 1923-1924. Have a look at them burning money to keep warm because the worthless D Mark paper was worth more than wood. Capitalism never worked? Try Ronald Reagan, or I guess you were on the side of the Soviets at that time. Maybe you were not born yet? Thank capitalism for your computer and latte!
ericclaptonismygod31 3 years ago
Any real solutions out there folks? Going to scapegoat the "speculators," the Jews, the Canadians? Socialism basically got the US into this mess with an unfunded war in Iraq, tax cuts, and too much social welfare spending. Overthrow capitalism! Workers of the world unite! :) Funny shit reading these postings!
ericclaptonismygod31 3 years ago
Here is how to solve this mess. 1) guarantee the debt of the major banks 2) stop spending on the military 3) privatize social security and freeze taxes 4) progressively reduce the budget deficit over the next few years 5) DO NOT wage wars with foreign countries and instead make the USA the most competitive country in the world again. NAFTA is your friend, protectionism/Communism is not! IF the US still had the GOLD STANDARD we would not have gotten into this mess in the first place!
ericclaptonismygod31 3 years ago
I agree with 2), 4) & 5) but I don't see how privatizing social security would have a good impact on the people. The only people against social security are the top 5% of Americans who are so rich they don't need it. The majority of Americans not only want it, but they are willing to pay taxes for it. Since democracy is majority rule, I don't see how this is a problem. As for freezing taxes, how could we then reduce the budget deficit?
speakupforjustice 3 years ago
1) Guaranteeing the debt of major banks is socialistic and impossible anyway.
3) Social Security is not what got us into the mess in the first place, not even a drop in the bucket. Sorry.
We got into this mess with much thanks to deregulation, inflation, and other issues like oil.
Starry2000 3 years ago 2
we can make gold now
00AgentMan 3 years ago
The time has come to galvanize and throw the bums out in 2008, and 2009! McCain and Obama both cannot be trusted! The Democrats and Republicans have destroyed the USA. I'm voting for a 3rd Party again in 2008. The Great Global Depression II is here and so is War WAr III.
MayorGalvan 3 years ago
got a better system in mind? how about nazi fascism or soviet style communism? maoism was a good system, eh? capitalism is the best economic system that we have. gold standard, free trade, mobility, and limited government is what we need right now.
ericclaptonismygod31 3 years ago 2
the banks are going to bring us down because of their idiotic loan lending and investments; it is because of this greed that the rest of us will suffer for...& already you see the govn't use our own tax dollars to bail out Bear Sterns and now Fannie Mae, Freddi Mac soon to go under! Fannie & Freddi own or guarantee $5 TRILLION worth of mortgages (about half of US home debt)!! Do you know what would happen if they go under? Liquidity will be lost and you'll see more banks fail-another depression?
speakupforjustice 3 years ago
We don't need more unregulated laissez-faire capitalism, in fact this has never been 100% EVER, so how could it possibly work now? What we need is more government oversight to make sure these banks aren't involved in risky idiotic actions- which they have no qualms about since they realize the government won't let them fail. I have nothing against capitalism, but I agree with Keynesian economics, you need a strong govnt in order to provide stability.
speakupforjustice 3 years ago
I'm surprised that American realtors and home owners nationwide haven't started a national protest movement to burn all the bank-owned foreclosure properties....
1)
it would drastically improve the housing market and
2)
they would actually get something for their tax money being confiscated by Congress to pay off the distressed banks who hold the titles. How many titles the Fed (they caused the bubble with too low interest rates) has received from banks as collateral?
TexnTuber 3 years ago
Those with negative equity and struggling with their mortgages ,will probably have to burn their "own" houses piece by piece this coming winter ,starting with the skirtings and architraves if projected increases in heating fuel are true .
For those interested ,one metre of skirting will produce about 10 kilowatts Architraves about 5 kilowatts per metre .i sujest leavig doors and floorbords till the last on account of the increased draft
ubornthick 3 years ago
all american politicans and illuminated rich people have a one track mind, to enslave commoners and non wealthy citizens of all types.
Hollander909 3 years ago
easy for rich politicians and celebrites to support far left political ideologies and power economies while the rest of the wolrd goes homeless and starves to death because of inflation, its ok though rich politicians and celebrities will be ok, you know, ( its the fuck you,im alright! syndrome wealthy people and politicians have)
Hollander909 3 years ago
Um, hasn't the congress and executive branch been REPUBLICAN for the past 8 years? How do "far left" celebrities have any effect on policies?
simon333 3 years ago 2
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if you knew anything about politics you would know that the only time they put a fake republican party in office is when the lefties are losing tyranical power! the republican party is to keep clean of wrongdoing liberal parties and maintain a good image they dont even have. opposing politcal parties are fake and are to keep up appearances with the public.
Hollander909 3 years ago
The housing bubble is at its core a land speculation bubble. The real estate for profit game is a land speculation game because only the value of land/locations appreciates. Land value is 100% created by the community as a whole so when private individuals cash in on increased land value they pocket a value they do not create. It is the motive to pay more for land than it is really worth hoping the next guy comes along. The last guy just came along. Google "Henry George" for further insight.
ourearthhome 3 years ago 2
its not a speculation bubble, the housing market prices are strictly and only affected by politicaly engineered inflation and wallstreet is the 2nd inflation engine, economic power leads a country to a desolate labour slave trainwreck of status inequalities and poverty, wich is all orchestrated AND COLLABORATED by politicians bankers and the US war machine. Get your head outta the sand box.
Hollander909 3 years ago
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you could buy a house for 80.000 with a 550$ rent in 97 now theYre 200.000$ with rents over 1200$ no one can afford a home anymore because of politicaly engineered housing inflation! politicians are sending the new generaqtion straight to poverty and homelessness while the rest who already have a home live in luxury and cheap rent!fuck all politicians destroy esoteric facism for good support a presidentless leaderless country abd get a piece of happiness in this lifetime OR BE ENSLAVED
lucidgenius88 3 years ago
american politics wont even allow american peOple the freedom to own tax free land, so that they can send citizens to the gutter through inflation and tax rise! the only free poeple are the ones who dont pay property tax! yes natives! they have all the services and no tax! WHILE WE GET ENSLAVED INTO POVERTY HOMELESSNESS AND DISGRACE! NO SUCH THING AS APPARTMENT BUILDINGS ON NATIVE RESERVES! THATS TRUE FREEDOM! NOT THAT FAKE SHIT DEMOCRACY THEY FILL YOUR ASS WITH on tv
lucidgenius88 3 years ago 8
@lucidgenius88 I am 1/32 native American. I wish i was full blooded, not for tax free land, but to not be a slave and be forced to support corrupted government and corporations.
Too bad Americans are sooo brainwashed that things will never change...
America will become a thrid world country in our life time, but this is not the 1930's and it will have a very different ending... ending as in the end of a country...
cyclenut 1 year ago 2
@lucidgenius88 Well it was their land.
OneBeanLeft 1 year ago
@OneBeanLeft
Leave this land if you feel it is not yours to live on.
LEAVE.
ugha323a 11 months ago
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POLITICIANS are the crib of the economic engine and are responsible for all rises in inflation all reforms and vetos and revolts and societal poverty! presidents are the ones responsible negating property rights through legalised extortion such as rising taxes rising home costs (when wallstreet can) all forms of cost inflation and rising costs is politicaly engineered! dont be swayed by lies
and bullshit on CNN trying to render innocent politics from the societal collapsing effects it creates
lucidgenius88 3 years ago
USA will not be entering a depression...............
depressions have an end
ubornthick 3 years ago
Yeah, but it will be a recession most likely.
madarchodus 3 years ago
Ummm, US is already in a recession, duhhhh.
ImyManz99 3 years ago 2
Great work. Thanks for sharing. This is no laughing matter.
blvoss 3 years ago 4
Optimism is good to see. It's true, there doesn't have to be a violent crash. But let's not fall in the mistakes this very video is warning us about. We have to take steps to change what's wrong and make better policies.
paerarru 3 years ago
What is the name of this song?
VandaloEducato 3 years ago
I'm Forever Blowing Bubbles
Boethius51250 3 years ago 2
thanks :)
VandaloEducato 3 years ago
lots of foreclosures in the first Depression
Heard stories where the people (who were more armed) convinced many banks to allow them to stay in their houses even w/o being able to pay mortgage
I have an 11 part video series of an economic prediction made in 1994. Check it out
TexnTuber 3 years ago
yes. land owners also did not like the idea of having an empty house and worse off having unknown squaters live there so many tenants were fortunately allowed to stay in their homes without paying. I wonder if that kind of generosity is still around.
reinaldihno 3 years ago
the country is dying but we are all in lala land.
aznwarlord 3 years ago
welcome to 1928
BanjoNaps 3 years ago
I hope you and Harry Dent are wrong. Sure doesn't look like it though. I drove that guy from the airport in 2000. And got a free version of the speech he got paid 50k to give Bear Sterns on their yearly Vail trip... Guess they didn't listen.
Einstiensblackid 3 years ago
I wouldn't worry about it to much. The world is highly connected at this point. So as the US economy tanks the rest of the world will try to save themselves by slowing the crash. Also with such a decline, energy collapse would be so devastating on agriculture and manufacturing that it may trigger a revolution. Re-localisation will be the new trend. Look towards old city downtowns. Their picking back up and that trend will continue. Many will lose homes though, this will result in cheep land.
BanjoNaps 3 years ago
As an investor I'm kinda hoping for it. I still rent, just started a small landscape company in a town where the only requirement employers ask of employees is a pulse. I also just finished paying off every debt I had. So I'm not worried about my survival at all.
I just see no real economic strength in any sector of any economy. Even India could be crushed by the US suddenly stops spending a dime more than it needs to.
Einstiensblackid 3 years ago
very good, as a young person I would really like to see land prices fall as well. I've been quite frugal the past few years to avoid any debt myself. Oh landscaping, versatile.
I've noticed that as well. Lets just hope for a slow decline that eventually forces the US, into an evolutionary transition to a broad and dynamic energy market (no crashes please). Not just one energy source on the market? how exciting!
BanjoNaps 3 years ago
It's all in place when you think about it. Most of the technology is there but it hasn't had a chance to compete in the same ballpark as oil.
But if we, as a country, blew our lode on real-estate right about the time food and oil skyrockets... Alt. energy will be a major contender and it wont have anything to do with the environment.
Einstiensblackid 3 years ago
Yes, I know. The nation will be just like the 6 million dollar man. We have the technology... Even on todays market its competitive. You don't get enough solar to power your house. Just enough to keep you in the range were its 25 cents a kilowatt hour. Once you go over a certain amount they start to charge more per kilowatt hour every 100 kilowatt hours or so. Cleaning up ground water then turning a profit on land, I think will be big. So many new markets are just around the corner!
BanjoNaps 3 years ago
Land prices must fall because the housing bubble is really and only a land speculation bubble that has burst. History proves that people like to speculate with land because land value is entirely created by the community and cashing in on it allows one to reap what others have sown. Ownership of land value that comes along with land ownership is an entirely unearned value and income as land is rented or sold. It is the free lunch of which there isn't supposed to be any. Pimping Mother it is.
ourearthhome 3 years ago
How funny LOL hahahahahahahha
moniequa 3 years ago
That is a fantastically appropriate and hilarious song for this video ^_^
QuixoticBlues 3 years ago
It's scary...you posted this a year and a half ago, and it's even more true today.
kmj1791 3 years ago 2
"Professor, without knowing precisely what the danger is, would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?" Professor "Yes I would, Kent."
madarchodus 3 years ago 2
2+2=5
icantfindanamethis 3 years ago
I think the fed. incesantly cutting interest rates to satisfy wall street and promote borrowing and spending instead of saving some money like in the past is a big culprit. Although the consumer had a lot to do with it borrowing to live beyond their means while their wages were flat and with their house prices being cut in half and swimming in dept they can never hope to repay with no wage increases. The fed and consumers gambled the party would never end now they will drag many down with them.
ashton77 3 years ago
I remember reading somewhere "let no debt remain, but the continual debt of love".
Wierd idea.
jingling30 3 years ago 2
Great video! Next 2 years its gonna get scary. Better learn how to be hunter gathers Lol.
skipqtexas 3 years ago
The people who put Bush and the Republicans in office are responsible for this. He has doubled the National debt in 8 years. He added more to the debt than than all of the previous presidents in 225 years. He believed in guns and butter. Cut taxes, raised spending. With the democrats gave us the most destructive trade bills in the nations history. Within a year the average European family will have a greater net worth than the average American family.
gdcapra 3 years ago
Federal reserve needs to own more private property,Government,creates problem,reaction & solution=control,Grow to much food the Government would survey farmers land & plow it under= socialism Obama global poverty Tax 7% of GNP + carbon tax = $15.00 a gallon Gas
War got people productive again.CONTROL=Globalism NWO transalantic union
louis12346 3 years ago
very interesting...Best of YouTube. These guys are smart, very smart, like Capone.
54spiritedwill54 3 years ago
Thank you brunopowroz,
Finally, someone who understands the meaning of the word depression.
ForTheRecord101 3 years ago
liberals and conservatives are to blame alike
they both pretend theiyre for freedom but theyre tyrrants, they wont even allow you the freedom to own land. if land isent tax free, you dont own it, you own the title to it. Nothing else. Eminent domain owns your land and they work for politicians. Property taxes is a mafia system of extortion.
BLOSSVALE09 4 years ago
upload. wikimedia. org/wikipedia/en/d/d6/EconomistHomePrices20050615.jpg
15 years of declines is entirely possible.
codediporpal 4 years ago
the housing "crisis" is due to people losing thier fucking jobs due to corporate greed
themeaningoflife38 4 years ago
no its not its due to fact that people are sick of paying taxes for land they already own. minimum wage (aka slave wage), high housing inflation, and consequent rent hikes is why people cant pay rent nor afford anything else, and go homeless.
BLOSSVALE09 4 years ago
When the ship goes down you'd better get ready! See you at the soup kitchen!
Joyriser 4 years ago 2
For more tips on buying and selling a house, check out my videos.
ExpertRealEstateTips 4 years ago
For example, thirty years ago you could not pass 9th grade math without a basic understanding of algebra. But, there isn't one adult in fifty who are able to use the most simple algebraic formulas to solve a problem. That's because they just figured a way to give the right answer on the simple tests. It wasn't necessary to know how to apply the concept.
ForTheRecord101 4 years ago
Even with a chief executive that perpetuates deception of such a magnitude, illegitimate appeal to authority apparently can't be stopped; LEARN TO THINK FOR YOURSELVES, OR OTHER PEOPLE WITH THINK FOR YOU, AND OFTEN TO YOUR OWN DETRIMENT!
eab84 4 years ago
THE PRESIDENT: Yesterday I did comment upon that, that there was a -- I talked about the different scenarios that I had been briefed on about whether or not there would be a precipitous decline in housing or whether it would be what one would call a soft landing, and it appeared at this point that it looks we're headed for a soft landing. And that's what the facts say.--------
eab84 4 years ago
From a press conference on 8/9/07: Q: What's going on in the housing market, is it a correction or a crisis, in your view? Can you assess that?
eab84 4 years ago
thanks to the MASS media! people got what(broke/death) they deserved.
icore64 4 years ago
exactly, idiot nation. brainwashed till absurdity. I'm so sad that americans forgot what they stand for. Forgot constitution, forgot their pride, forgot WHY they are great - LIBERTY. Bunch of SHEEP deserved what they got. They had voted for their president - they got it. Middle class will be destroyed and 1 rich will rule 1000 SHEEP who watched FOX NEWS and believed what IDIOTS on TV where telling them.
indyproject 4 years ago 2
And the new constitution for the North American under our NWO puppet government will start off with the title "we the sheeple." Lol.
JackNeedles 4 years ago
More people voted for Al Gore and John Kerry than voted for Bush. The elections were handed to Bush, first by the secretary of state in Florida and supreme court in 2000, then by the secretary of state in Ohio in 2004. Both these secretaries of state that controlled the state elections were openly part of Bush's election teams!
ForTheRecord101 4 years ago
While the housing sector is very very bad, the great depression itself had characteristics that can't really be repeated...there will be modern equivalents, but you will not see a soup line or tent cities. If people loose their job, and loose their home, they end up in low income apartments supported by welfare and food stamps.
jdmorro 4 years ago
The point of a depression is there is no money. No money meaning no welfare. It probally won't be as bad as the last one as we can do thing far more efficently. We have vaste storages of food so i don't think anyone will starve but 3rd world counrties get alot of support from the west so i think they will starve
doford 4 years ago
if you're poor and black, you're fucked :=(
xavster 4 years ago
If there is an economic calamity food shortages will be much greater this time because in the 1930's a much larger percentage of the population were farmers growing their own food, and, more food was grown locally. People are hoarding gold and silver whlen they should be worried about what to eat.
ForTheRecord101 4 years ago
More food is grown today due to improved methods of farming. The more farmers we have the less efficent it will be.
There will be a change in what farms grow and what people eat to reduce transport but the system is too good for it to fail.
doford 4 years ago 2
Today's food supply comes from multinational corporations. Distribution of the food depends upon the economic system which is cracking. If it cracks the distribution system will be gone. Do you think the food conglomerate will simply go on producing food for people who can not pay?
ForTheRecord101 4 years ago
It comes from multinational corporations because that's how liberals set it up. They wanted to tie countries together. So if one falls they all fall. Also, about this sub prime crisis, people shouldn't be in a mortgage they can't afford. Liberals screamed redlining to the banks. So the banks started lending money to unqualified people.
paxblueguy 4 years ago
You have things so backward, I don't know where to begin.
ForTheRecord101 4 years ago
That's because you have no clue.
paxblueguy 4 years ago
In your mind, "liberals" are the blame for everything. Please give me your definition for liberal.
ForTheRecord101 4 years ago
I'm not going to play your game. You know damn well what a liberal is.
paxblueguy 4 years ago
A Conservatives is someone that thinks their way is the only right way and that everyone else is wrong and they have a right to force people to do things their way.
A Liberal (liberty) is someone that acknowleges the right of all people to be free to chose what they believe and recognizes that the world changes.
This is not a game. It is a shame people even admit they are conservative.
ForTheRecord101 4 years ago
liberal conservative same diff, these people support housing inflation, and rising taxes to drive people out of their homes and into poverty, this forces people to desperate things to sustain themselves such as slavery. inflation would eventualy give the wealthy the right to own slaves (formerly the middle class) middle class and commoners all would become slaves to wealthy elitists of society.
BLOSSVALE09 4 years ago
"Liberals screamed redlining to the banks. So the banks started lending money to unqualified people."
I've seen this floating around a lot since NY Post article. It's just BS. Nobody forced lenders to make unsound loans. Ever. It's actually true though that liberals called for less regulation. And now conservatives, who are usually the ones digging in their heels against regulation, are blaming loose regulation. How ironic.
codediporpal 4 years ago
Hey ForTheRecord101!
>People are hoarding gold and silver whlen they should be worried about what to eat. I think it's wise to lay in a supply of both gold and food to start with. It's also wise to garden, evaluate your career for how depression resistant it is, and get debit free while there's still money to do it with. I have a few awkwardly filmed videos posted detailing my preparations for peak oil and what I see as an economic depression that's headed our way. Buckle up everyone!
Mechman064 3 years ago
Good points BUT,
You said it your self-"Depression" Depression means PRICE DEPRESSION OR DEFLATION, NOT INFLATION.
The problem with gold is you must pay a huge premium because most people think gold will save them. You will lose that premium and much more if there is a depression because depression means prices are depressed.
At this time, when there are dozens of other stores of wealth requiring no premium and thus smaller price depression losses, it makes no sense to buy gold.
ForTheRecord101 3 years ago