Do you think we are heading for similar conditions that existed in 1929?

Question

With the price of oil skyrocketing, I am thinking that conditions might become similar to what existed back during that time with the depression and the huge unemployment. Am I the only one seeing this? It took gearing up for war to break us out of it here and in Europe.

Answer 1

The conditions are very similar.  An elite few are attempting to control most of the wealth.  People whose labor has produced the wealth are being taxed out of their earnings and personal wealth.  

Real property continues to be a peculiar asset.  The once sacred Mainstream American opportunity of home ownership is slipping away.  The elite are reestablishing the feudal land structure.

There is a difference between 2008 and 1929.  Industrial and technical economics have1929 as a benchmark.  There are complex financial measurements by which phenomenal growth and wealth are defined and measured.

2008 as a book end or intermediate measure of wealth has safeguards to stave off depression and manage recession.  The safeguards provide leaders of business and government a sense of security against poor planning and policy.  Businesses of certain magnitude seek government relief from adverse marketplace conditions.

This enters a realm of ethical decisions.  Is it appropriate to bailout a business or an industry?

Very perceptive question.

Answer 2

Yes I agree wholeheartedly.

Conditions economically, seem to be akin to 1929.  In Great Britain, food prices are rocketing.  Business's are going bankrupt due to escalating fuel duties, and yet, incredibly, there is an unabated construction boom happening nationwide.

However, who is going to buy all these developments if business is floundering?  Interest rates have been cut five times here this year.  Yet the greedy banks don't pass on the rate cuts for months.  However, when they rise, the increase is passed on immediately.

On top of this, Muslims are entitled to sharia compliant banking.  Which means they are not paying interest on capital borrowed.  Imagine, our own government discriminating against the bulk of it's own people: And yet no one seems to care.

A few banks have either gone bust, or written off large sums of money, and yet they give it freely to a small section of society.  However, if you raise a voice of protest, you are a bigot.  This is all part of a globalization scam.  Create a depression, like in Germany between the wars, and hungry people will vote a charismatic leader in who will feed them and look to restore order.

This is an engineered depression, to create panic, and put a dictator in charge of virtually the whole of Europe.

Go ahead.  Label me a mad bigot.  However, if I'm in a car on a country lane, I don't need to see the cows to smell the ****.

Answer 3

the economy looks bad but the economy in the US actually grew 4 or0.4 percent. is amazing but i doubt it.

Answer 4

Were not heading we are already in those days of the depression . The difference between then and now is then there was a freer press to bring out the true news .