Now this is just great... Where else but on this fucking planet can someone use the fear of total economical breakdown to actually make some money! lol
According to this sap son of a bitch, we're heading towards a second great depression... If you know about the first one, you know that people were starving themselves to Hades and scraping for anything resembling food, money, job, any or all of the above.
But as a history lesson, let's look at these coincidental facts and witness just how stupid governments and businesses can become, and how they easily forget the past when they start using rolls of 100000$ bills to wipe their asses in their 398923-carat gold bathrooms :
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The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries. It was the largest and most important economic depression in the 20th century, and is used in the 21st century as an example of how far the world's economy can fall. The Great Depression originated in the United States; historians most often use as a starting date the stock market crash on October 29, 1929, known as Black Tuesday. The end of the depression in the U.S is associated with the onset of the war economy of World War II, beginning around 1939.
The Great Depression ended at different times in different countries. The majority of countries set up relief programs, and most underwent some sort of political upheaval, pushing them to the left or right. In some states, the desperate citizens turned toward nationalist demagogues—the most infamous being Adolf Hitler—setting the stage for World War II in 1939.
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Now let's review the irony in all of this in today's time :
People looked (as the most popular example) to Hitler, we (well, population in general, whether they had wanted it or not) looked to that stupid anus George W. Bush as he led the american people to war, subsequently leading other countries to war against the middle-east. The economy was fine during that time, at least in comparison to today's fuckhell financial situation.
Additionally, today's effort do not seem that far off of what happened in the 30s - meaning the following :
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The Great Depression was triggered by a sudden, total collapse in the stock market. The stock market turned upward in early 1930, returning to early 1929 levels by April, though still almost 30 percent below the peak of September 1929. Together, government and business actually spent more in the first half of 1930 than in the corresponding period of the previous year. But consumers, many of whom had suffered severe losses in the stock market the previous year, cut back their expenditures by ten percent, and a severe drought ravaged the agricultural heartland of the USA beginning in the summer of 1930.
In early 1930, credit was ample and available at low rates, but people were reluctant to add new debt by borrowing. By May 1930, auto sales had declined to below the levels of 1928. Prices in general began to decline, but wages held steady in 1930, then began to drop in 1931. Conditions were worse in farming areas, where commodity prices plunged, and in mining and logging areas, where unemployment was high and there were few other jobs. The decline in the US economy was the factor that pulled down most other countries at first, then internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot-Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By late in 1930, a steady decline set in which reached bottom by March 1933.
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And also what got to me was another coincidental situation - legal tender conversion.
We saw it recently with Europe adapting to the Euro, hence surpassing the US dollar easily, it was pretty much the same bullshit in the 20s with Britan and their currency. You'll also notice the banks downward spiral included below. Another lesson no one bothered to learn since then.
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There were multiple causes for the first downturn in 1929, including the structural weaknesses and specific events that turned it into a major depression and the way in which the downturn spread from country to country. In relation to the 1929 downturn, historians emphasize structural factors like massive bank failures and the stock market crash, while economists (such as Peter Temin and Barry Eichengreen) point to Britain's decision to return to the Gold Standard at pre-World War I parities (US$4.86:£1).
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Now the following is a real beautiful peice of shit to my eyes... I find it totally inaccurate and utterly stupid.
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Recession cycles are thought to be a normal part of living in a world of inexact balances between supply and demand. What turns a usually mild and short recession or "ordinary" business cycle into a great depression is a subject of debate and concern. Scholars have not agreed on the exact causes and their relative importance.
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What the fuck kind of shit is that? It's not a normal thing for fucking CEOs and Presidents to receive 2039823 kabillifuckingtrillion dollars in compensation bonuses just because of their titles! Or fucking oil prices to ravages and rape consumers just because they can and they know people have no choice any more in this lazy mother fucking day in age to gas up their fucking cars to go to work, play or pimp mother fuckers around.
There's absolutely nothing fucking normal about all the major car companies to suddenly go fucking brankrupt and demand billions from the governments just to stay alive... WTF is that bullshit?
And what about other huge pole-licking companies such as AIG and those fucking Lehman brothers?!
In fact, here's a little history lesson on the Lehman bullshit... Read and wonder how this could have happened.
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On September 15, 2008, the firm filed for Chapter 11 bankruptcy protection. The filing marked the largest bankruptcy in U.S. history. The following day, the British bank Barclays announced its agreement to purchase, subject to regulatory approval, Lehman's North American investment-banking and trading divisions along with its New York headquarters building. On September 20, 2008, a revised version of that agreement was approved by Judge James Peck.
On September 22, 2008, Nomura Holdings announced that it had agreed to acquire Lehman Brothers' franchise in the Asia Pacific region, including Japan, Hong Kong and Australia. The following day, Nomura announced its intention to acquire Lehman Brothers' investment banking and equities businesses in Europe and the Middle East. The deal became effective on Monday, 13 October. In 2007, non-U.S. subsidiaries of Lehman Brothers were responsible for over 50% of global revenue produced.
Lehman Brothers' Investment Management business, including Neuberger Berman, was sold to its management on December 3rd, 2008. Creditors of Lehman Brothers Holdings Inc. retain a 49% common equity interest in the firm, now known as Neuberger Investment Management.
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Did you read the line "In 2007, non-U.S. subsidiaries of Lehman Brothers were responsible for over 50% of global revenue produced." ?
And this, folks, is the global economy... Whether we see it or not, whether we know about it or not, the economy is not directly or indirectly derived on small businesses, on consumer consumption, but rather on these overgrown fat fucking companies such as Lehman, the auto-industry, oil companies (most notably in the mid-east), banks (include real-estate in here too).
They should do in business what they do in the NHL and cap these fucking cocksuckers! Cap the fucking shit out of them!
At any rate, back to the original reason behind this post entry - the second apocalypse!
Yes friends, according to this money-hungry-by-publishing-a-book-to-instill-fear-in-people-about-the-total-descruction-of-the-economy-yet-by-selling-his-book-he-is-making-money mother fucker, we'll only see the light of day in 2013, when Jesus himself will come down and swipe his godly gold-as-his-halo MasterCard and clear all the bullshit under the rug... until 2093!
"Stock markets will bottom-out in mid-2012, he predicts, before picking up again in mid-2013. "
If that were true, he would say why they would pick up, and if he would say why, he would know why, and if he knows why, surely other top fat-bastard people know why and how this shit could pick its fat arse right back up...
But I surmise he's just throwing fucking numbers around like his own feces to his publisher, demonstration his thirst for popularity to sell his pile of shit book that wouldn't even serve as reading material to make me shit a big log on the throne.
And apparently, there's a 100 million baby-boomers that will all of a sudden stop spending money and covet it until they croak to be buried with it, therefore collapsing furthermore the economy.
All of a sudden, all simultaneously... how coincidental is that... maybe they have baby-boomer meetings that we're unaware of - secretly planning the end of the financial world!
And I suppose the governments weren't aware that these people were suddenly getting older and hence not even bother to conceive a plan of action for when the time will come... Whether they did or not is probably all the same, considering their track record on intelligent strategies about anything.
And lastly, "However, Dent said it could be 10 years before Canada is out of the woods and the economy is back on solid footing."
10 years... we're just going to kick back, enjoy horse-piss for beer and watch puppet-shows through a fucking cardboard box for entertainment while waiting for that 10th year to roll in and suddenly re-balance the economy and everything is back to normal... nice, I think I'll go stock up on fresh beer and scotch right now.
What are your plans for the next 10 years?
Author predicts second Great Depression on the way
The global economy is going to get worse before it gets better, according to the author of a new book that predicts we're on the cusp of a second Great Depression.
19/02/2009 8:54:31 AM
Harry Dent, author of 'The Great Depression Ahead,' speaks with Canada AM from Vancouver on Thursday, Feb. 19, 2009.
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CTV.ca News Staff
Economist Harry S. Dent, author of "The great Depression Ahead," told CTV's Canada AM that the large number of baby-boomers who are approaching retirement, and the over-stretched U.S. banking system, means the worst is yet to come.
And U.S. President Barack Obama's costly stimulus package likely won't solve the problem -- either for the U.S. or for the rest of the world, he said.
"The government doesn't understand that over 100 million baby-boomers in North America are switching from being spenders to savers," Dent said from Vancouver.
"People earn and spend more money until about age 46 when their kids start to leave the nest, then they spend less and less and save more for retirement. On top of that we've had the greatest housing bubble ever, more so in the United States that in Canada, in history."
Obama's stimulus package might cause the economy to spike, but probably won't lead to a permanent fix and could actually make things worse in the long run, Dent said.
"The stimulus is so massive that if we only have a minor rebound it's probably likely the markets are going to say 'oh my gosh, the economy really is mortally wounded,'" he said.
That "rebound" could last until the end of 2009, but by early next year the economy will be in a deeper downturn than it is now, Dent predicted.
"In mid-2009 it will recover, but it's the calm before the storm," he said, predicting that the hallmarks of depression -- double-digit unemployment and a falling consumer price index, will be seen in 2010.
Stock markets will bottom-out in mid-2012, he predicts, before picking up again in mid-2013.
Dent said he is telling his clients to take advantage of the temporary recovery that will come in anticipation of the stimulus bill, by selling their stocks and converting their investment to cash, then waiting out the slump.
"This was a synchronized global boom -- one of the greatest in history in the 2000s -- and now it's a synchronized global bust," he said.
Until now, Canada's economy has been largely protected from the economic fallout by stronger banking regulations than those in the U.S.
However, Dent said it could be 10 years before Canada is out of the woods and the economy is back on solid footing.
"The bigger problem you're facing is a 29- to 30-year commodity cycle is also peaking here...and that means commodity prices are probably going to be down for a decade before they turn up again so that is probably the bigger challenge in Canada," Dent said.
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