Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: The Ox who wrote (758)	5/6/2003 12:22:26 AM
From: EL KABONG!!!	Read Replies (3) of 4912

Michael, I think that to start, we'd need to define fairly precisely (for the purposes of debate) what set of conditions we consider to be a depression and what worsened set of conditions we would consider to be a great depression. My viewpoint is that a depression is defined by: -o- massive unemployment -o- lack of opportunities for gainful employment -o- lack of investment opportunities -o- lack of purchasing power by the masses -o- bankruptcies, both individual and corporate -o- some degree of deflation, particularly for commodities -o- what wealth remains is concentrated within a small sphere of individuals/entities -o- governments/charities/churches become the chief suppliers of day to day sustenance for many people (think soup lines, welfare, unemployment benefits, charity, etc.) -o- GDP decreases I'm sure that other posters here (including you) could think of other factors as well. Once we can agree on a definition of depression, then we can speculate on possible causes ranging from geopolitics to economics to the ever popular random-meteorite-in-China theory... KJC

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