A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
second great depression,
where did all the buyers go
Followed by a fresh new currency and an even more socialist, er... I mean, caring government!
A bit extreme of a worst case scenario w/o alot of analysis to link the consequences portrayed with the debacle in housing. If a depression happens with will be due to a banking system that collapses, which was the true triggering event for the "Great Depression" The stock market crash was just the mechanism which sapped the banking system and forced it to collapse. Its uncertain if the loses from loose mortgage lending will produce this same triggering event, only time will tell.
I don't disagree with the sentiment (except for the silly inflation comment, inflation doesn't skyrocket in a bust), but the video was lame.
Last year, it was impossible to find a video about the depression on Youtube. Quite a different story this year. More and more pople are starting to realize our faux economy is nothing but a mirage that's evaporating before our eyes.
C Grade production value. Terrible Acting. Retread information. THe quality is abysmal. Are you starving for content Keith?
Hyperinflation followed by a new currency and an even more compassionated conservative gov't.
No crash scene? Just the smug dinner parties? Let's see some really gory $hit.
"C Grade production value"Which makes it A-grade, considering this was probably a family-made (principals all have same last name) home video that cost nothing (assuming the y know the owner of the formal wear company). It's YouTube, not Hollywood. How convincingly they make the leap from housing bubble to certitude of Great Depression II is up for debate. Puffy Creme
I have been back in San Diego 24 hours, and the number of homes on the MLS has gone up from 20,300 to 20,500 . . .the number of foreclosed homes hit an all time record of 601 in April (beating 1996). . .a neighborhood escrow company closed shop, and the number of "for sale by owner" signs have soared. . .just in my few block area. . .I would say PANIC has now taken hold. . . .think I will call my landlord this afternoon and ask them to change out the carpet for hardwood floors. . .or lower the rent!!!
Out of the mouth of babes
Right now all markets are primed, just waiting for something to cause them to slip/strike.Just wait until Israel strikes Iran's nuke capabilities with limited nuke attacks, within the next 6 months: that (as well as the effects on oil flowing thru the Straight) will send MAJOR shivers thru ALL markets.... People will freak.
"I don't disagree with the sentiment (except for the silly inflation comment, inflation doesn't skyrocket in a bust), but the video was lame."Tell that to Zimbabwe and Weimar Germany!!
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