Oppo Digital update

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[QUOTE=kexodusc]Before the you jump off a bridge or climb a tower and start shooting innocents, you might want to read a little about the Depression and why what's happening now is not even a 10th as bad as what happened back then....

In the Depression, unemployment hit 25%...we're hovering around 7.2% today with no chance of hitting 1 in 4.

thats the OFFICIAL number, its actually closer to 16%...AND CLIMBING

in the Depression, GDP fell 30%...we're looking at cuts of 1.4-2%.

Its JUST GETTING STARTED

In the Depression, more than 5000 global banks failed, and wiped out the savings of millions of people the world over...so far we're at 23 and counting, and deposit insurance in any nation with a clue protects the bulk of personal savings.

WE ARE AT 23 IN THIS country.
And there is a lot more credit than there was back then.
International trade has all but shut down, and the effects are just starting to be felt.
AND "deposit" insurance, are you really that naive?
It only covers about 7% of the depositors.
What happens when the fund runs out.
Same as with social insecurity...THEY CRANK UP THE PRINTING PRESSES.
You might get your "deposit" but good luck buying anything with it.
Ask the good(and rioting ) citizens of Iceland , whose govt has just collapsed,
how goodtheir "govt guareentees turned out.
Deposit insurance!
GOOD ONE!

In the Depression, the markets fell by 80%, we lost 34%...even liquidating the value of tangible assets of companies at clearance prices wouldn't see this approach 80%.

The dow hit A peak of 14,000, Its now at 8,000 in the worst JANUARY ever.
Its down over 40%
But it isnt just the US, the NIKKI 225 is in the seven thousand range, down about
50% andd they say it will only get worse

I don't see 1 in 9 families having their children taken away from them because they can't feed them, or a mass exodus of children below age 14 leaving schools to work the railroads as Box Car kids.

Not yet.
During the first depression it took awhile for the full effect to hit, and it took several years for the dow to reach its lows.
More people grew food back then, I dont have any food growing in my back yard, do you?
We have a three day supply of food, and a nation of people who dont even cook
half the time anymore


Looking at quality of life:

In the Depression, fewer than 1 in 3 Americans owned cars, today the average household owns between 2 and 3 vehicles.

No, the average household has the NOTE on two to three vehicles, the bank owns
them

In the Depression, life expectancy was 58-61 years of age, today its 75-80.People own TV's, have access to internet, better medicine, education etc, etc, etc....

All of which goes away soon after you lose your job.
HAVE YOU EVER been on the receiving end of a layoff?

You do your ancestry a gross injustice comparing the struggles of the Depression to the "crisis" today. Your grand daddy would whoop your ass for being such baby about this...

MY GRANDDADDY went through the great depression.
He was within walking distance to work, he grew most of his own food,
and still all his family had most of the time was flour and lard.
The point is that during this round we wont even have that much.
Most of the industry has been shipped overseas, few people farm, or have access to
food if they lose their income, and the govt is BROKE.
Dirivatives are at around 1,4 TRILLION, that will never be paid.
Thousands of houses that you brag about have been foreclosed on, the housing market has crashed in most places.
Which is really scary when you consider that taking out mortgages is what has fueled
the bubble of the last ten years.
You need to take the blinders off and look around a bit.
And the economic picture is the least of it.
It took WWII to get us outta the last depression.
We live on a planet with 40,000 nukes, and south Korea has seized their stock
market.
Some think this is because North Korea has declared all treaties void, a lot of people
think he is getting ready to march.
IRAN will have a nuke this year and is led by an apocalyptic religious fanatic.
Whats the good news?
There isnt any.
You are a guy who thinks he just got on the magic teacup ride, when you are actually in
THE SPACE SHUTTLE.
You are the one who is gonna get the "whupping" when you wake up broke one day with
no food and realise that you have been lied to.
DEPOSIT INSURANCE !!!!
funny.