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"How quickly we forget we went through

Savings and Loan failures
Dot Comm failures
Telecom failures
The slow death of the airlines
Oils move from $17.00 to present
The Rust belt
The period of 13% interest rates and stagflation"

Yes..both all those things were nothing compared to this:


http://en.wikipedia.org/wiki/Great_Depression


Which we are on the precipice of....great depression 2. Although, I do think DEEJ is right that Bernanke would not allow that tailspin to happen quite like that. He would devalue the dollar first. But gesat depression 2 is a possibility on the table. I wouldn't totally ignore it.

I lived through some of the other things you mentioned. I don't think any of those things are as bad as standing in a soup kitchen line. It is a grim situation. I do think we will get out of it and it won't go to the ultimate worst.....but I do acknowledge the agents of chaos are at the gates of the city looking in.



Rob s
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