The Crash of Western Capitalist Civilization?

There is one thing that is for sure. The American public of today will not handle a resection like that of the 1929. Imagine if you will a public as spoiled as ours doing without. 1929 was a lot simpler time and the finer things where not taken for granted as they are today.




[edit on 17-9-2008 by sqid4life]

Bad prediction on my part. Apparently I over estimated people faith in the government loan. Gold made its biggest single day increase ever. Market is currently down 300 points. Another bad day today. I cant imagine how bad it would have been if the Fed hadn't bailed them out.

Hi There,

GrimReaper787:

I cant imagine how bad it would have been if the Fed hadn't bailed them out.

I think it is a case of getting burned a lot or a little. If we are to believe that the real control of finance lay in the hands of a private cabal, then in essence, the FED is really the only institution that is currently creditable, hence the $85 billion loan (plus interest) by the cabal to the FED on behalf of the nation.

I think we will see a few more hammerings to the markets, but then a stabilising, and then the beginning of a new era of lending, as banks seek to recuperate what they lost. The main thing to consider is what has been gained from this...a greater and more focussed centralisation of the nation's lending. If anything is to be learned for the ordinary man and woman, it has to be to live and borrow well within one's means. Do not over-reach through extravagant dreams...make what money you earn and have work for you, rather than you work for the money due to the debt one has accrued.