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The Great Depression of 2012 ?

Discussion in 'General Real Estate and Real Estate Finance' started by George Ellerman, May 24, 2009.

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  1. George Ellerman

    George Ellerman Senior Member

    5
    Feb 21, 2005
    Professional Status:
    Licensed Appraiser
    State:
    Ohio
  2. Wendy

    Wendy Senior Member

    0
    Feb 23, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    So apparently we middle class are all destined to become crack addicted squatters searching the dumps for food in 4 years.

    Alrighty then.....
     
  3. Mike Kennedy

    Mike Kennedy Elite Member

    78
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
  4. Randolph Kinney

    Randolph Kinney Elite Member
    Gold Supporting Member

    77
    Apr 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Gee, it appears people are anxious about the future. Not so many are confident that things will get better. That was before the election. After the election, people are anxious about the future. More people are loosing confidence that things are getting better.

    But of course, there is always hope followed by change ... for the worse.
     
  5. Jason Barber

    Jason Barber Junior Member

    0
    Feb 16, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Michigan
    Wow... could you imagine being at a dinner party with Peter Schiff and this Celente fellow. I think I would jab a fork in my eye.
     
  6. Ken B

    Ken B Elite Member

    92
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    The revolution will not be "militia in the streets" so much as the people rejecting the status quo and demanding that the government return to its Constitutional roots of being of the people and for the people. As the Republican Party continues its fear-mongering and the Democratic Party reveals its impotence and Socialist agenda, the people will reject both parties. A third party will gain favor. A party which is socially liberal and fiscally conservative. That third party is the Libertarian Party. The revolution will be bloodless, but true change will result.

    This thread has a lifespan of less than 24 hours before being locked.

    Those are MY predictions.
     
  7. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    299
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    An optimists viewpoint. A pessimist, like myself, would be comforted by such fellows. At least, it would be no shock if it happens and if it doesn't I would be delighted that it all turned out better than expected.

    Does anyone think that in 1929 or even 1931 that people thought there would be a "depression"? That they had at least 7 more years of slow economic growth, low wages, and high unemployment?
    In Arkansas during the 30's everyone had a garden yet food riots broke out. People died. My grandfather hated Roosevelt to his dying day for killing cattle and burying them when there were people in the community going hungry in 1933. They burned piles of wheat and corn to keep market prices up for export. In Russia, the Russians sold wheat for gold to build armaments and Russians, totally capable of producing their own food, staved by the 100's of thousands.
    Anything can happen. And us? As Bill Bonner said in the book called "The Coming Soft Depression of the 21st Century", .."Americans celebrate their democratic freedoms by shuffling off to the voting booth. Then, they go back to doing as they are told." BTW, his book was written in 2003.
    The Whigs never predicted their demise with the rise of the Republican Party in 1860.
     
  8. Tom Woolford

    Tom Woolford Elite Member

    32
    Nov 20, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida

    I'd pay money to see that.
     
  9. Randolph Kinney

    Randolph Kinney Elite Member
    Gold Supporting Member

    77
    Apr 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    If anyone doubts what is going to happen in the future, just follow events unfolding in California.

    Those autoworkers are going to suffer the same fate.

    If the budget deficits continue to grow for the US and interest rates rise in spite of the federal reserve buying US Treasuries, the election of 2010 is going to look like the ballot measure election in California followed by cuts in federal program spending. It's either cut spending to bring the budget under control or raise taxes on everyone.

    As happened in California - raising the sales tax, double the car license plate tax, and raising income taxes - raising taxes brought in less revenue, not more, and unemployment jumped.
     
  10. John Hassler

    John Hassler Senior Member

    0
    Jul 23, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    For more on this here's a WSJ article from last week:

    Soak the Rich, Lose the Rich
     
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