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2008 Great Depression

Is the economy moving into a 2008 Great Depression especially if stock prices continue to drop? How long could this 2008 Great Depression last?

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 ---Bill on 10/23/08
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On December 11, Fortune magazine (Fortune 500) published an article entitled "8 really, really scary predictions" where the "experts" predicted a Dow Jones Industrial Average of 4000 (a financial 'bloodbath' depression) and food shortages for the U.S. in 2009 (that was the day Madoff was exposed, but they made no mention of Madoff).

The day before 9/11, Rumsfeld announced that the Pentagon could not account for the loss of 2.3 TRillion dollars. It was never found. Since then, Bush has conned Congress out of more money (how could anyone LEGITIMATELY spend 10 Billion dollars a month in Iraq?). Do you really believe that the financial crisis in the U.S. and all over the world was ACCIDENTAL?
---more_excellent_way on 12/22/08


Who is able to cause earthquakes? God, mother nature, and man.

And when Jesus opened the fourth seal, John heard the voice of the fourth beast say, "Come and see." And John looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.
---Steveng on 12/10/08


MEW --What "financial geniuses?" I don't believe those exist.

As for limiting population growth, that will happen if we do nothing! When wild animals over-populate, their food source becomes insufficient. They starve, become ill, die or are too weak to escape predators (also true for the very young or very old).However, our Christian ethic teaches us to value life, consequently, this fact applied to humanity becomes very unpalatable.

I personally believe, despite our best efforts (and we must make the effort) we will never succeed in wiping out all disease, famine and warfare( A good example is the antibiotics that cure disease even while they produce resistant, more deadly strains of bacteria)
---Donna66 on 12/9/08


M E W "Of course the media has recognized the financial problems of the last year, but only to get a larger audience"

That is a nonsense statement. You mignt as well say that the nedia only print anything to get a larger audience.
---alan_of_UK on 12/7/08


Of course the media has recognized the financial problems of the last year, but only to get a larger audience. The politicians haven't been called out to take action. If they had been, the economy wouldn't have gotten so bad.

No politician today will admit that active population reduction must take place (Ted Turner, Jaques Costeau, and many others have admitted that pop. reduction is extremely necessary immediately). Thirty four years ago, Henry Kissinger wanted PASSIVE pop. reduction (sterilization, birth control, etc.), but now there are three times as many people in the world.


With all of the modern financial geniuses in control, was this global financial crisis really an "accident"?
---more_excellent_way on 12/7/08




Active/aggressive population reduction is a gloomy fact, but it is the reality of the global economic crisis. The Australian Broadcasting Corporation (an australian government funded media) has a show and a website that teaches children about their "carbon footprint" and how much damage they do to the environment by LIVING. The front page of their website originally said "find out at what age you should die" (until about a month ago, I kid you not). Not even the name of the website is civilized, it is called "PlanetSlayer".

The "Georgian Guidestones" express the need for pop. reduction.

I'm sorry, but the truth must be known so this generation will understand to get serious with God.
---more_excellent_way on 12/7/08


NVBarbara -- I've never heard Bush called "anionted"! And I disagree with you somewhat about the causes of our financial state. I have to blame, in part, the Neighborhood Reinvestment Act (Carter's baby) that enabled ACORN to strong-arm banks into writing bad loans that they knew would default. Barney Frank et.al.repeatedly shrugged off warnings about Fannie Mae and Freddie Mac. Bush failed to address this too and failed in other ways as well....but that's all history now.
---Donna66 on 12/6/08


More Excellant Way: How is it that population reduction will be performed? By letting people in 3rd world countries starve to death? We are doing that! By war and terrorism? We're doing that too! How is it determined who lives and who dies?
I have heard it said that anyone born handicapped and the aged (at what age is aged?) should be euthanized to take the strain off the government resources. I am not being snide...I am just wondering...
---Sally on 12/6/08


"Financially, we are in a mess! The whole world is. And none of our leaders or financial gurus, or the great "anointed" Obama, are entirely certain what to do about it". Donna66 on 11/18/08

Please remember Donna that it was the "Annointed Bush" that was so poor at his job that we're in the mess we are now, including this rediculous war!
---NVBarbara on 12/6/08


M E W ... You are partially right.

Our UK government has until recently saying theproblems are only a blip and that our econonomy is strong enough to withstand it.

The media during that time were issuing all sorts of warnings

One can understand governments witholding the bad news ... because issuing it may make the problem only worse. Like a self-fulfilling prophecy.

In a battle, if the troops are told the worst, they will not fight best.
---alan_of_UK on 12/6/08




The media has been covering up the fact that we are in a recession? Since When? Seems to me that's been front page stuff for much of the last year. They've even called it a "depression" (which is not the same as a recession).

Understanably, the government is more cautious. The technical definition of a recession is at least 2 consecuative quarters of negative growth. It isn't about unemployment, prices,the stock market or subjective indicators. It all about the GDP, which may take more than 6 months to evaluate.
---Donna66 on 12/5/08


It was just recently exposed that the economy has been in a recession for a year (the media and government were always covering it up).

The recession/depression is only beginning and will get much worse. Forty one states in the U.S. have SERIOUS financial problems of their own (47 Billion in Calif. alone).

The "Empire of the Moneychangers" does not honor God, but MAN, and it drains worshippers at a time when we should be considering the welfare of our families and caring for them the best that God has enabled us. It is God's will that we care for our children as He has enabled us. Forsake the moneychangers.

We can fellowship in home churches and online, but buildings, rich pastors, and scholars are MAN's empire.
---more_excellent_way on 12/4/08


Financially, we are in a mess! The whole world is. And none of our leaders or financial gurus, or the great "anointed" Obama, are entirely certain what to do about it.

But one thing I rely upon (beside the promises of God) is that the press and media are never to be completely believed. I may sound jaded, but I've found it true, especially in financial matters. They will always report the worst case scenario as a near certainty. Adjectives are mostly in the superlative. They don't want, to reassure, but to stir up fear so that their readership will return daily to their pages.

Prophesy may be unfolding...YET,it's still possible we're facing troublesome times, instead of total irreversible disaster!
---Donna66 on 11/18/08


The world TODAY is at least 4 times more complex than it was in the 1930's, and it has approximately 5 to 6 times the population.

In 1974, Kissinger submitted plans to the United Nations to reduce the world's population (again in 2000 and 2005).

Population reduction has become a popular idea. All of the world's governments recognize it as necessary because the world simply cannot correctly provide for such a large population.

The economic crisis will be VERY serious (this is only the beginning).
---more_excellent_way on 11/8/08


Last Thursday a stockbroker called me with the following ofter a seven year,A rated bond, at 7.7% interest paid monthly with the Caterpillar tractor Co. I did not buy the bond. Reason being I think Caterpillar tractor for some reason is desperate for cash that being the reason for the offering of 7.7% interest.
---mima on 11/1/08


It's time... to see if we really believe what we proclaim... to live by faith in the Son of God. This is where the rubber meets the road, to give our faith a chance to be challenged. Multitudes hang in the balance, looking for truth, and hope, and something they can believe in,the harvest is ripe,

ARE WE GOING TO RISE TO THE OCCASION?

THE TIME IS NOW.
---gayla on 11/1/08


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We are in a WORLD WIDE CRASH. This is unprecedented and not like the depression. We are about to see a Radical change in the world at large. It is all predicted in the Bible.
---jody on 10/31/08


The day's are coming that will make "The Great Depression" look like a picnic in springtime...
Need the verse's?
---Duane_Dudley_Martin on 10/27/08


This recession, so far, is no where near as hard on people as the great depression my parents went through during the 30's. I don't think it will be that bad nor probably last as long.

This would be a GREAT time to buy real estate or stock...if you have CASH.
---Donna66 on 10/27/08


My dad was very wise. He owned a produce company and a restaurant in Chicago where I worked at both from the time I was eight years old til I was sixteen.

He would say, "If I had a choice between having $1,000 in the stock of a great company or a $1,000 commercial coffee pot, I would opt for the coffee pot." His reasoning? You can control your own asset, but not the company of the stock you own. He learned that from his father during the Great Depreesion. "With a coffee pot I could sell coffee for the rest of my life because everyone drinks coffee." He would say, "Control the absolute necessities of life (meaning commercial property and food) and you have income for the rest of your life."
---Steveng on 10/25/08


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Stocks are going to continue to drop further especially when the 4th quarter earnings come available in late January 2009. Expect the stock market to drop to a DOW of 7,000.
---Jimbo on 10/25/08


Who knows how long it will last.The last one was a long time.Land is where to invest your money as my son says they aren't making anymore and if worse comes to worse you can plow it up and plant giant gardens and feed yourself and family.My son put all of his money into property and most of it is paid for.
---shirley on 10/25/08


Here's what I think.
If you own stock, the WORST thing you could do is sell it...unless you are convinced the company has absolutely no chance.

If you've sold stock in a company that has gone belly up, then the time to get back in the market is now. Don't try to wait for the bottom of the market.

I make it a point NOT to watch the market daily or even weekly. All the Indices Standard & Poor, Dow Jones, Nasdaq, reflect only what people THINK is going to happen to their stock and to business in general.
Any little thing can send the market into tail-spin these days.

This is no recommendation, but in hard times people continue to buy Cocoa Cola or Pepsi and beer. Walmart should do well.
---Donna66 on 10/24/08


Does anyone know the best investments to buy when a great depression has bottomed ie the last great depression bottom ended in 1932 and presented many great investment opportunities. I believe the stock market is still too high and is not a good investment yet.
---Tom on 10/24/08


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Panic selling already underway in the Asia market can only lead to panic selling here.
Any endeavor built on credit is always a house of cards. Now this house(orderly business around the world) will fall. In deeper more realistic philosophical terms this panic was brought about by the over emphasis on materialism in all its various forms. To answer the moderators question, we are in for the ride(or slide) Of our financial lifes. Great loss of employment is coming. Greater than the Great Depression which topped out at 25%. Soup lines will soon be a necessity. Also concentration camps have been made ready (when people begin to riot government must have a holding pen in order to control the masses.)
---mima on 10/24/08


Yes, the economy is moving into a GREAT Depression. Our money shouldn't have been invested in worldly stocks, but we should have been doing things Gods way. Give and it shall be given unto you, good measure, pressed down, shaken together and runneth over.

My 401K was put in a fixed interest account, not stocks and I'm making money now on my account.

Do things God's way!!!! It's all laid out for us in His word. They are saying this Depression could last until the end of 2009. I hope I'm outta here by then...raptured out. My famous saying has become, I'm outta here, but I am giving money to those in need and I am praying for people's hearts to change and go to God for their needs, not worldly stocks.
---donna8365 on 10/24/08


Even the British Government, never known for it's openness, has admitted that we are moving towards a recession (previously it had just used the word "downturn")

Alan Greenspan admitting self-regulation by Wall Street had failed, said. "Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity myself especially are in a state of shocked disbelief."

I think it is quite clear where we are heading .... but the world has faced catastrophe before, and we can't take it for granted that the end of the end-times is upon us just yet
---alan_of_UK on 10/24/08


Alan,

In your opinion, does this downturn appear to be worse than the 1991 - 1992 recession? It sure seems to be worse, however maybe I didn't pay enough attention to this past recession to understand how painful a bad recession can be to the average person.
---Moderator on 10/23/08


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Yes, this economy is moving into a 2008 great depression. Most of the businesses were I live are starting to lay people off and this economic crisis has only just began. Avoid stocks at all costs.
---Alan on 10/23/08


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