The Second Great Depression?

[Doc7505]

The Second Great Depression?​

The Second Great Depression? | Armstrong Economics

The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that

www.armstrongeconomics.com

16 Aug 2024 ~~ By Martin Armstrong

The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that began in 1929.
For you see, the landscape is entirely different now. America was transitioning from an economy based on agriculture to industrialization. About 40% of the economy was agriculture-based at the time. Outside factors like the Dust Bowl provided those is the agriculture sector with no alternative for work, hence the US experiences unemployment rates around 25% because farmers were out of work.
The economy cannot be properly analyzed from a domestic lens. By 1931, all of Europe defaulted on its debt, and Britain went into a moratorium. Mom and pops who invested in foreign debt were paying high interest in high denominations that the likes of Goldman Sachs were selling at the time. They lost all their money. It was a different time as it was a major transition.
The economic collapse on the horizon will be more reminiscent of the 1970s, when we entered a period of stagflation – inflation rises, but economic growth declines.
~Snip~
We face difficult times ahead. Japan will perhaps be the first to default before the contagion spreads to Europe. My aim was to create a system like Socrates that could help people navigate the inevitable ups and downs of the economy. We know what is to come so we can stay prepared. Again, we are not entering a second Great Depression by any means, but dark days are upon us.

Commentary:
No one has backyard Gardens and Chickens to survive on anymore. This time around there won’t even be edible garbage in the garbage cans let alone backyard survival fodder. This is why a lot of cities will not allow food gardens even in your backyard. The intentions and goals are very clear.
Unfortunately America is no longer an industrial, what we have is a service based economy which in a recession is much worse as it is all geared selling of skills vs goods.
Do Democrat voters understand that if Kamala wins/steals the election and turns the country into a 3rd world hellhole, that they will be seen as public enemy #1 by 250 million really pissed off people? I know I ain’t gonna be nice if I’m living in a tent eating shoe leather.

 

[Lisa558]

The Second Great Depression?​

The Second Great Depression? | Armstrong Economics

The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that

www.armstrongeconomics.com

16 Aug 2024 ~~ By Martin Armstrong

The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that began in 1929.
For you see, the landscape is entirely different now. America was transitioning from an economy based on agriculture to industrialization. About 40% of the economy was agriculture-based at the time. Outside factors like the Dust Bowl provided those is the agriculture sector with no alternative for work, hence the US experiences unemployment rates around 25% because farmers were out of work.
The economy cannot be properly analyzed from a domestic lens. By 1931, all of Europe defaulted on its debt, and Britain went into a moratorium. Mom and pops who invested in foreign debt were paying high interest in high denominations that the likes of Goldman Sachs were selling at the time. They lost all their money. It was a different time as it was a major transition.
The economic collapse on the horizon will be more reminiscent of the 1970s, when we entered a period of stagflation – inflation rises, but economic growth declines.
~Snip~
We face difficult times ahead. Japan will perhaps be the first to default before the contagion spreads to Europe. My aim was to create a system like Socrates that could help people navigate the inevitable ups and downs of the economy. We know what is to come so we can stay prepared. Again, we are not entering a second Great Depression by any means, but dark days are upon us.

Commentary:
No one has backyard Gardens and Chickens to survive on anymore. This time around there won’t even be edible garbage in the garbage cans let alone backyard survival fodder. This is why a lot of cities will not allow food gardens even in your backyard. The intentions and goals are very clear.
Unfortunately America is no longer an industrial, what we have is a service based economy which in a recession is much worse as it is all geared selling of skills vs goods.
Do Democrat voters understand that if Kamala wins/steals the election and turns the country into a 3rd world hellhole, that they will be seen as public enemy #1 by 250 million really pissed off people? I know I ain’t gonna be nice if I’m living in a tent eating shoe leather.

I think it’s time to put together a food storage pantry filled with canned goods (fruits, veggie, meats), bags of rice and potatoes, powdered milk, and ton of bottled water. That stuff can last at least two years.

Don’t forget a manual can opener.

 

[shockedcanadian]

The Second Great Depression?​

The Second Great Depression? | Armstrong Economics

The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that

www.armstrongeconomics.com

16 Aug 2024 ~~ By Martin Armstrong

The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that began in 1929.
For you see, the landscape is entirely different now. America was transitioning from an economy based on agriculture to industrialization. About 40% of the economy was agriculture-based at the time. Outside factors like the Dust Bowl provided those is the agriculture sector with no alternative for work, hence the US experiences unemployment rates around 25% because farmers were out of work.
The economy cannot be properly analyzed from a domestic lens. By 1931, all of Europe defaulted on its debt, and Britain went into a moratorium. Mom and pops who invested in foreign debt were paying high interest in high denominations that the likes of Goldman Sachs were selling at the time. They lost all their money. It was a different time as it was a major transition.
The economic collapse on the horizon will be more reminiscent of the 1970s, when we entered a period of stagflation – inflation rises, but economic growth declines.
~Snip~
We face difficult times ahead. Japan will perhaps be the first to default before the contagion spreads to Europe. My aim was to create a system like Socrates that could help people navigate the inevitable ups and downs of the economy. We know what is to come so we can stay prepared. Again, we are not entering a second Great Depression by any means, but dark days are upon us.

Commentary:
No one has backyard Gardens and Chickens to survive on anymore. This time around there won’t even be edible garbage in the garbage cans let alone backyard survival fodder. This is why a lot of cities will not allow food gardens even in your backyard. The intentions and goals are very clear.
Unfortunately America is no longer an industrial, what we have is a service based economy which in a recession is much worse as it is all geared selling of skills vs goods.
Do Democrat voters understand that if Kamala wins/steals the election and turns the country into a 3rd world hellhole, that they will be seen as public enemy #1 by 250 million really pissed off people? I know I ain’t gonna be nice if I’m living in a tent eating shoe leather.

As long as the U.S currency remains the world reserve than a second depression is unlikely. What needs to happen is that the debt needs to be under control. or the chances of the USD being replaced increases substantially.

The problem is, one has to determine which types of donors would be behind different politicians and what being behind them would mean for fiscal policies.