Wednesday, January 13, 2016



Future Historians" Will Probably Call the Period That Began In 2007 "the L-O-N-G-E-S-T DEPRESSION.

There are many indicators which show that the last 5 years have been worse than the Great Depression of the 1930s, including:

The housing slump

The bank charge off rate

The collapse in world trade

The withdrawal of short-term credit

The level of inequality between rich and poor (too much inequality destroys economies)

The interconnectedness of financial systems and economies worldwide (interconnectedness leads to financial instability)

Runaway debt, spending and greed

Indeed, the number of Americans relying on government assistance to obtain basic food may be higher now that during the Great Depression.  The only reason we don't see "soup lines" like we did in the 30s is because of the massive food stamp program and EBT cards.

The Government Has Made It Worse

We are stuck in a depression because the government has done all of the wrong things, and has failed to address the core problems.

We'll have a never-ending depression unless we repudiate the debt, which never should have been extended in the first place.

Fraud was one of the main causes of the Depression, but nothing has been done to rein in fraud today. Indeed, the only action the government is taking is to help cover up fraud.

All leading independent economists have said that the economy cannot recover until the big, insolvent banks are broken up, but the government has just helped them to get bigger.

The Federal Reserve caused the Great Depression and the current crisis, and has done nothing but help the fat cats at the expense of the little guy. And yet the government has given the Fed more power than ever.

Government policies send manufacturing jobs and dollars abroad.

The government is doing everything wrong.

We – and the wealth of our nation – have been looted. The great redistribution of wealth in history has created a depression.

Corrupt policy has caused medieval, king-and-serf levels of inequality.

The 1% has caused a depression for the 99%.

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