The Great Depression was caused by a number of factors that don't exist today. On the stock side, people bought stocks that didn't exist, often with money they didn't have. The stock market is regulated to prevent that from happening.Banks didn't have the money to back their accounts. When the stock market crashed, people rushed the banks, withdrawing so much that nothing was left. The FDIC now insures individual accounts up to $100 K and banks have standards.Farmers weren't rotating their crops, leaving their fields vulnerable to erosion when the droughts hit. Causing the dust bowl. We have the solution for rising fuel prices. We have the technology. It's just that nobody has ponied up the $15billion it's going to cost to put the infrastructure in place. Someone will when they see that it really is going to be profitable. The people who've taken a bath in the down stock and real estate markets have done so because they've committed the most basic, stupid mistake. they bought when the markets were high and are trying to sell now that they're low. Those with half a brain and a few dollars to invest are going to clean up over this by buying severely undervalued stock and property now and selling it when it makes it's cyclical turnaround.
We're headed for a recession. No doubt about it. But things won't get as bad as they did in the 1930's. We haven't had a catastrophic economic event, yet.
... They don't compete on the open market. They produce their own gas, and the government limits exports to help fuel their own economy with cheap gas. Good plan, but not a possibility for every country.
Yeah but most people don't have money to buy a car...
The Great Depression was caused by a number of factors that don't exist today. On the stock side, people bought stocks that didn't exist, often with money they didn't have. The stock market is regulated to prevent that from happening.Banks didn't have the money to back their accounts. When the stock market crashed, people rushed the banks, withdrawing so much that nothing was left. The FDIC now insures individual accounts up to $100 K and banks have standards.Farmers weren't rotating their crops, leaving their fields vulnerable to erosion when the droughts hit. Causing the dust bowl. We have the solution for rising fuel prices. We have the technology. It's just that nobody has ponied up the $15billion it's going to cost to put the infrastructure in place. Someone will when they see that it really is going to be profitable. The people who've taken a bath in the down stock and real estate markets have done so because they've committed the most basic, stupid mistake. they bought when the markets were high and are trying to sell now that they're low. Those with half a brain and a few dollars to invest are going to clean up over this by buying severely undervalued stock and property now and selling it when it makes it's cyclical turnaround.
We're headed for a recession. No doubt about it. But things won't get as bad as they did in the 1930's. We haven't had a catastrophic economic event, yet.
... They don't compete on the open market. They produce their own gas, and the government limits exports to help fuel their own economy with cheap gas. Good plan, but not a possibility for every country.
The price of gas in Venezuela is 12¢.