you would think after a 50% 2 year bear market, an october like we had, new lows, there would be talk of a depression, but there isn't...
even though the conditions, response, and move toward socialism are exactly the same, hardly anyone is even considering a depression as a possibility. one caveat is that we haven't officially started a trade war with china yet (something equivalent Smoot Hawley Tarriff act), but we've even fired the first bullet with currency manipulation charges and bailing out the automakers. note: (obama cosponsored a bill that would have placed a 27% import tax on chinese goods if china did not devalue the dollar vs the yuan, so a trade war is more than a remote possibility)
it must be an incredible faith obama is the only thing i can think of, or it happened too quickly? it's utterly stunning much faith people have in the government to solve all their problems, when they have always been, and always will be (as long as they control credit), the source of bubbles and the resulting collapse, not the solution.
perhaps when the inevitable government/sovereign debt defaults and currency crises' begin (iceland notwithstanding) capitulation will happen.
even though the conditions, response, and move toward socialism are exactly the same, hardly anyone is even considering a depression as a possibility. one caveat is that we haven't officially started a trade war with china yet (something equivalent Smoot Hawley Tarriff act), but we've even fired the first bullet with currency manipulation charges and bailing out the automakers. note: (obama cosponsored a bill that would have placed a 27% import tax on chinese goods if china did not devalue the dollar vs the yuan, so a trade war is more than a remote possibility)
it must be an incredible faith obama is the only thing i can think of, or it happened too quickly? it's utterly stunning much faith people have in the government to solve all their problems, when they have always been, and always will be (as long as they control credit), the source of bubbles and the resulting collapse, not the solution.
perhaps when the inevitable government/sovereign debt defaults and currency crises' begin (iceland notwithstanding) capitulation will happen.
