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U.S., Europe Headed Towards Another Depression?
For some, warnings of a U.S. economic slowdown go beyond a recession. From the CNBC website this morning:
The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Hong Kong-based Tyche, told CNBC on Thursday.
We expect a depression in the United States. We expect a depression, very possibly, also in Europe, Hennecke said on Worldwide Exchange.
Hennecke, who previously worked as an investment adviser at Hong Kongs Bridgewater Ltd. and is a frequent guest on CNBC and Bloomberg Television, explained:
The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained.
We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply.
When the government can no longer pass the United States immense debt on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said.
Definitely, it (the dollar) is not a safe place to be invested in, as real inflation is closer to 10 or 11 percent than the actual inflation numbers given by the U.S. government, Hennecke said on Worldwide Exchange.
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fact about depression in this video you can watch the interesting and amazing depressing facts about depression
A quintessential depression cinema escape, Law of the Rio Grande is an hour of nothing but honest good fun in the Wild West. Bob Custer and Edmund Cobb were stars of silent cinema and adapt well here in this early talking Western. Custer plays a former outlaw who’s trying to live an honest life. He gets set on the right path by the gorgeous Betty Mack who wants to save him. But Custer’s skeletons don’t want to stay in the closet when an old gang member threatens to ruin his newly earned good name. Law of the Rio Grande features snappy dialogue and a fast story. It was a wonderful way to be free of the woes of the great depression and is a pleasant good time today as well.
William Boyd, of Wild West fame as cowboy Hopalong Cassidy, stars as an overreaching reporter in Go-Get-‘Em Haines. Boyd trails a big business tycoon aboard a luxury liner. On board, Boyd gets caught up in the festivities which include drunken mayhem and impromptu vaudeville-style shows! But the comedy and goofiness get sapped when a man ends up mysteriously murdered . . . . Then Boyd turns detective and Go-Get-‘Em Haines transforms into an elusive whodunit. A splendid distraction to the Great Depression, Go-Get-‘Em Haines is a superb effort of blending side splitting comedy and enigmatic adventure.
Comprehensive Annual Financial Report, great depression
This Works Progress Administration (WPA) video documents the destruction and rebuilding that occurred after the January 1937 flooding of the Ohio River that stretched from Pittsburg, Pennsylvania to Cairo, Illinois. The effects of this devastating incident were increased further due to the struggles that America was already facing while in the midst of the Great Depression. While the devastation was extensive and left many people homeless or dead, it would have been further compounded without the help of the Works Progress Administration, a New Deal Agency created to provide work to the unemployed. These workers bravely and tirelessly aided in the evacuation of people from the area, the distribution of food supplies and clothing, and the eventual clean up of the wreckage caused by the flooding. This video strongly and rightly praises these workers and acts as a motivator for those employed by the WPA and stands as a persuasive justification for the funds spent to employ the workers.
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President Barack Obama and the Prophecy of Hope. A Southern Hemisphere supernova in 1987 resulted in a wave of positive change in the Southern Hemisphere, with democracy coming to South America and positive change to South Africa.
This means that hope for the world will come from the Southern Hemisphere. Related to this is I think the election of President Barack Obama, who brings Hope to the world in a time of great economic crisis. Kenya in Africa is on the equator where the Southern Hemisphere begins. I think President Obama was elected as part of the trend of Hope for the world and the United States coming from the Southern Hemisphere. Personally I am very impressed at how President Obama is building consensus in the Congress for a program that makes sense to attempt to help the U.S. and world economy recover. There is a great danger of this economic recession becoming a great depression. President Obama inherited a wrecked U.S. economy, and it will take time to turn things around, but perhaps most important is that President Obama brings Hope.
From the Revelation13**** Prophecies of the Future Web Site.
With our economy downfall, there is no time to waste, and only the government can do the job. But is that true? Learn2Discern what is occurring in our faltering economy and what history reveals from the Great Depression. Distributed by Tubemogul.