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Pastimes : A Jackass, his PAL(indrome), and GOLD -- Ignore unavailable to you. Want to Upgrade?

To: pogbull who wrote (479)	1/29/2003 6:47:22 PM
From: Jim Willie CB	Respond to of 1210

good breezy essay by Ian Gordon on KWinter, Greenspan effigy this is no time for wishful thinking certainly not for politically correct cheerleading mindless crapp time for reality check, sturdy analysis, defensive measures financialsense.com a warning clip... WILL THERE BE BLOOD IN THE STREETS? I experienced the ten years of the Great Depression in my teens and early 20’s. I have vivid memories of that period. Our nation survived because it had many strengths in its favor. It had 20% of the population living on farms and capable of growing their own food vs. 2% today. It was a creditor nation with other nations owing us money, instead of our huge $40 billion deficit of the past month. There was no Social Security, but private and public charities prevented people from starving. There were long bread and soup lines, but no riots that I can recall. There were people selling apples on the street in order to survive. I cannot conceive of such a peaceful resolution recurring during the coming depression, which I expect to be long and severe. There will surely be many marches and demonstrations when the public finally learns the truth about the economy and the colossal failures of the government establishment to take appropriate measures, years previously, that might have somewhat mitigated the conditions. I imagine there will be public burnings in effigy of Alan Greenspan and a few other key figures. The Great Depression ended only as a direct result of the tremendous surge in economic activity caused by World War II. Our entire nation, its people and governments at all levels, are so badly in debt at this time that it is hard to imagine any beneficial effects on the economy coming from another war. We have 31 trillion dollars of government, corporate and consumer debt which is over three times our annual gross national product and which experts claim can never be wiped out except through a ruinous level of inflation. / jim