Amid concerns that the value of stocks and bonds are on the verge of becoming sewage, or worse, refuse, stock markets around the world are taking a colossal dump, unloading 'everything' according to one analyst.
And another analyst stated that this time, there is little governments can do to thwart a global collapse. Can you say, "It's the 1930s all over again?"
Don't say you weren't warned.
And don't say you weren't also warned that this time, the collapse will be much worse than the Great Depression due to to 2 irrefutable factors:
1. In the years leading up to the Great Depression, the nation did NOT have the massive debt load that we do now. Calvin Coolidge, Warren G. Harding, and a Republican Congress made sure of that. But now, Obama has made sure that the debt load is so overwhelmingly unsustainable that the nation cannot, even if it wanted to, borrow enough money to dig us out of a collapse as it did in the 1930s. There is NO MORE MONEY for such programs!
2. Americans are not accustomed to suffering as our forebears during the Great Depression. These were, for the most part, sturdy, independent folk who had suffered through a world war and a massive depression in 1920 that was every bit as severe as the Great Depression (the reason we hear so little about the 1920 depression is that Harding and Coolidge put a quick stop to it by cutting gov't spending to the bone and cutting taxes to the bone to go along with it!). Americans today have been so accustomed to prosperity, ease, comfort, and abundance, that anything merely approaching the likes of the Great Depression of the 1930s will result in far worse suffering, due to the fact that we Americans are not used to it. We have had it much to easy to survive, unless we have specifically prepared ourselves ahead of time to do so.
So, my friends, girt your loins, batten down the hatches, and get set. This is not going to be pretty. God help us all.