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To: Davy Crockett who wrote (72700)	7/2/2001 12:38:30 AM
From: d:oug	Read Replies (1) \| Respond to of 116791

recession = your neighbor loses his job, depression = you... in the recession case your neighbor can not obtain a job in the same profession with same paycheck, and either goes on unemployment until benefits run out and then either gets under-employed or unskilled employed for a paycheck that is far below that prior good job just need a reality check here the depression of 1929 was before my times eventhought it was described in history text books and the most accurate facts were in print those i obtained through the mainstream media like tv then and still to this day are presented in a way to catch and keep eyeballs for that often mentioned reason to sell advertisements with accuracy a distance second place for reason so my impressions of 1929 was 90% of working people out of work but in reality i think it was 30% out of work and of those 70% that continued to hold a job it included a combination of same job same paycheck same job lower paycheck same job with reduced hours any other job with reduced paycheck as for the change in life styles caused by the 1929 crash what was it? everyone ate enough food probably the same amount as before the crash just different stuff cheaper things and less of things less steak more potatoes less beer more pop and sugar water walked more, drove car less no eat out, eat in no vacation out of state or country etc. depression in name only hyped by the mainstream press they interview 100 people 70 have jobs 30 do not of the 30 that do not find the most heart-ache story line and thats the example used by mainstream press tooting gata bill's cafe has lots of Doom & Gloom commentaries if they all came true total chaos blood running in every street on planet Earth no jobs, no currency, no order martial law, probably not since military will collapse and from this would be easy pickings for the Devil very easy the streets everywhere, on fire people fighting to the death over food and water no laws etc etc etc i don't think so a compromise? no just a simple lost of value for all paper fiat currency no gold standard to allow an exchange into physical gold via the government but you will be able to buy real gold a self imposed, free market exchange $600 or $6,000 whatever it is few will exchange for it because even if that 10 cents cup of coffee long ago today cost 1 dollar it will cost 10 dollars but unlike 1929 there will be a difference then people saved had money in the bank and then, the evil credit card did not exist only debt then for average folk was car & home loans two things necessary unlike today's credit card debt the stuff people have today, not really really needed not needed for a decent standard of living 1929 a home had one tv today, each family member seems to have one one in each room some with each having a vcr hooked up all on credit card debt not needed able to lose or simply stop buying stuff extra and not needed so i say if collapse does happen people's standard of living will not suffer they have too much "over" required for a decent living sell all cars so a house hold has only one kids take the bus to highschool, not drive their own car one tv per household etc just like pre 1929 lots better than most third world folks have today so let the crash happen all that extra money will take care of itself it will devalue itself worth 1/10 as in buying power and prices may even increase as supply of goods decrease less jobs making cars and tvs people make less money less goods created from less those types of jobs dollar worth less at same time prices increase with less demand & less supply finally a way to prevent another printing press out of control happening will be the question how to do it don't really need a gold standard just good standards created to insure good practices don't let the evil credit card monster live pay as you go only credit for what history has shown as productive & healthy car & home loan business loans stuff that makes or creates value increase standard of living but guess then, what is a good standard? 1 car, 2, 3 ? might be what gets the job done where job is to create value not so teenagers can drive themselves to school stop that and reduce number of cars that need to be made and that reduces the number of high paying Detroit jobs yes but thats life not everyone can live in the upper middle class but everyone has the opportunity to obtain an education and gain a skill needed to create value and from that everyone taking responsibility to obtain skills can yes, obtain middle class economic status from their skills to create value rather than by force using a Union that gets them x5 times what their skill is worth, and as crap flows downhill, those who are not in a Union(for the workers) who make minimum wages have to pay higher prices for Union made goods, like cars and other needed stuff. But then if everyone was a member of a Union making high wages, then it would result as the same as if no one was in a Union, as prices for all goods needed by all people would increase to pay all the workers. force and bad laws hurt only those "not included" in the crime so let the bubble pop let all world economies crash its only paper paper wealth paper pay check life will go on same as always 70% still will have a job same paycheck worth less smaller paycheck worth lots less no more drive car 1/2 hour to work take 2 hours using bus or train or subway work more hours to keep a lessened standard of living no chaos no blood in the streets the only difference today v 1929 where is the money where is the wealth some real, some not some worth only the paper stated on wealth = land, buildings, goods and service food, water, metals to create goods and precious metals that are stores of values and rare gems that are really rare in quanity available unlike diamonds where supply is controlled by DeBeers so i see no problem too big to fail does not apply to whole countries as no one can bail out the usa the world can not bail out the use not when its worth is contained in the worth of the usa dollar unless all those nations will accept receiving the full blow all nations except the usa take a hit lessen their each currency against the dollar by 100 so that when the usa citizen finds its dollar lessen by 1/10 its only internally and the usa citizen will still be able to support their high standard of living buying cheap goods overseas which may destroy the usa companies that produce in usa unless these workers accept third world wages and then... o what a tangeled web we weave when we do not tie a value to fiat money and create credit outside the Fed but then, all the above from i knowing no economics etc. so maybe the only question to ask is to direct it at yourself if the savings i have in the bank was devalued by 1/10 and/or my debt load could not be serviced causing me to lose home, car etc to pay back to banks then where am i in this picture after a crash knowing that those Powers that Be the big banks etc too big to fail will have the full support of the government to protect their worth using the laws inforced by the police so that the government can continue and exist as is still full of mistakes and corruption so too big to fail just a way for bad corrupt government to save themselves to continue so for sure if we get to that point talked about bubble pops big time markets crash hard the usa government will step in to save us to help us but really, to save itself itself being the politicians currently elected so they can keep their jobs as the average usa citizen pays the price for their mistakes but then, these are those who elected them and kept them in power so maybe it will be justice served to the right people the people who did wrong did not think as Rarebird tells us who let others decide for us for their benefit and agenda as government leaders but then if too big to fail was not done and people kicked out the government folks like Alan and pointed a finger at past Movers & Shakers like Not Worth a Rubin & Summers then what? do these mindless thinking usa folks understand what they did wrong? probably not so, do we get lucky and get gold standard type people put into power or get a USSR, China type combination with that not being knowned until years later, as up front they will tell us, the new government, that changes will be made to PROTECT YOU, yes you the citizen will be protected from evil bankers and those business type people that worked you too hard etc. Sure, the usa citizen will eat that us, requires no thinking, no thoughts, just let these people obtain power of the laws and police to protect us save us o ya well, maybe tooting bill's articles are on target hope not not for me but for others and next generations as i am protected/safe and have no children etc doug Peter, nteresting... r u assuming that we r going back to the '70's here exchange U.S. Dollars for Gold a la Charles DeGaulle? or r u suggesting that some country or derivative fund will blow up & cause further declines in the stock market & put the current fiat currency in question?