Do you know what this means?

[tet1953]

Those numbers are simply incomprehensible. If something like that really did happen, it would take some creative thinking to fix it. There was a Clancy novel where the markets got all screwed up from an attack. They ended up sort of resetting everybody to the last "good" day or something. They would have to do something like that, I think. There would be winners and lots of losers as usual, but they would just sort of wipe the slate clean and reset somehow. The scenario described would warrant something that crazy.

BTW, ot but Clancy also had an airliner crash into the capital during a joint session in one of his novels. It was spooky having read that and then seeing 911.

 

[ChronicObsession]

Nobody regulates anything, if it's about Money. They just regulate it into someone else's pocket while everybody else hangs out on the slipknot. That's why $$$ sucks dick. It's just paper! Fiat money, Work all your life for paper. What happens when the shitty gov tanks for real and all that fucking paper is just for wiping asses? I'd prefer to break the law and be hunting for gold in the night than save up paper in bank vault of lies.

Sounds like there needs to be some regulations in place for this kind of situation. It also sounds more and more like the Federal Reserve should be reformed into a public-only entity rather than a private-public hybrid.

My only real gripe with the Fed is the heavy banker influence, and this seems to be an example of that influence IMO.

 

[Brick Top]

I think Carne is right though, can you imagine the Deficit all of a sudden going from $14 trillion to $160 Trillion and what that would do? What would the interest on that amount be assuming 3% average? $4.8 Trillion? What is the total revenue by Government? $4.3 Trillion? Pretty sure that would totally kill the markets because it is an instant default. Of course if the Fed ramps up money creation with more QE, then they might be able to inflate it all away. Either way I think we are in for tough times ahead.

Few people today lived through The Great Depression so it is very easy for them to say that things would be worse if there was a collapse now, that it would make The Great Depression seems like "the good old days." But they lack an accurate frame of reference to go by and are only dealing with assumptions of what might occur and then comparing their assumptions to an inaccurate frame of reference and the results are whatever they want to believe something would be like is what it would be like.

It reflects the constant sensationalism we are bombarded with in our daily lives about most everything. Everything has to be bigger than life, everything has to be magnified beyond all proportion. If not, then it's not worth reading about, hearing about or watching these days.

 

[NoDrama]

When it comes to the most heinous crime in 300 years it tops The Holocaust and The Rape of Nanking and Pol Pot's Killing Fields and other similar stuff for sure!

You should change your name from NoDrama to UltimateExtremeDrama.

The Bank of America thing is not exactly Kool and the Gang, but try to keep things in perspective.

We are talking about the USA here. Perhaps it wasn't worded clearly enough for you, I figured most people would get that, but for you newcomers to the Politics section we will let it slide a bit.

 

[NoDrama]

Few people today lived through The Great Depression so it is very easy for them to say that things would be worse if there was a collapse now, that it would make The Great Depression seems like "the good old days." But they lack an accurate frame of reference to go by and are only dealing with assumptions of what might occur and then comparing their assumptions to an inaccurate frame of reference and the results are whatever they want to believe something would be like is what it would be like.

It reflects the constant sensationalism we are bombarded with in our daily lives about most everything. Everything has to be bigger than life, everything has to be magnified beyond all proportion. If not, then it's not worth reading about, hearing about or watching these days.

You were around during the Great Depression? You know for sure that tough times are not ahead? You must have some kind of evidence to back this claim of yours up.

 

[Mr Neutron]

Sounds like there needs to be some regulations in place for this kind of situation.

Yup, more regulations like the ones that allowed this to happen?

It also sounds more and more like the Federal Reserve should be reformed into a public-only entity rather than a private-public hybrid.

What is public about it now?

My only real gripe with the Fed is the heavy banker influence, and this seems to be an example of that influence IMO.

It's called the Federal Reserve BANK.

 

[Dankster4Life]

If things got so bad that they made The Great Depression look like "the good old days" people would be murdering each other for the last Chiclet or Tic-Tac. There would be total anarchy, the complete collapse of society, life would be like "The Road Warrior."

This is what i see happening.

For christ sakes we are over half way to this point any way.


Stupid humans.

 

[Brick Top]

You were around during the Great Depression?

How in the wide, wide world of sports did you come up with that inane statement? Just because I said that few people alive today lived through The Great Depression so few know what it was actually like, that in no way was any sort of claim that I lived through it. I did not say, unlike others I lived through The Great Depression so I know more about what it was like.

Heck, many people on this site don't have parents old enough to have lived through The Great Depression. I would go so far as to say that by far, most here do not have parents that old, so they did not even grow up hearing the stories about The Great Depression from people who lived through it. So they have absolutely no frame of reference to go by to make any claim about how some totally assumed future economic crisis might compare to The Great Depression.

Still, they do believe they can make an accurate comparison between an assumption and something they know little to nothing about.

 

[NoDrama]

How in the wide, wide world of sports did you come up with that inane statement? Just because I said that few people alive today lived through The Great Depression so few know what it was actually like, that in no way was any sort of claim that I lived through it. I did not say, unlike others I lived through The Great Depression so I know more about what it was like.

Heck, many people on this site don't have parents old enough to have lived through The Great Depression. I would go so far as to say that by far, most here do not have parents that old, so they did not even grow up hearing the stories about The Great Depression from people who lived through it. So they have absolutely no frame of reference to go by to make any claim about how some totally assumed future economic crisis might compare to The Great Depression.

Still, they do believe they can make an accurate comparison between an assumption and something they know little to nothing about.

So if you weren't around during the great depression, and you only heard about it through anecdotal stories, then just how do you know how bad it was? How can you say for certain that what might be coming isn't going to be worse? You can't, because you have no reference since you weren't around during the great depression. See how your circular logic works?