Panic is apparent as we look at the current economy… the Depression is something that whispers to us… we should never forget what happened.. before and after the Depression.

Of course saying that.. how did it happen the government grabbed the reigns of lenders and forced the current foreclosure issues? How did we let this happen?

It has been a snowball effect of the “gimmees” those who expect/demand what they have not earned.

We can look back to Katrina and see a very recent example of people who demand due to their own refusal to help themselves (hurricanes are not a new event.. it doesn’t suddenly happen.. there is warning.. and plenty of other states to look to for advice.. but instead the stood.. mouths gaping open as they stared at what was coming at them.. ).

The foreclosures are not much different.. people with a barely dime in their pocket expect to buy their dream home with nothing down and do not think they need to make those promised payments either.. shame on them, shame on the lender.. but remember it is the government who made this happen.. but everything follows a pattern.. who made the government do this? All those idiots out there who apparently mistake the USA for a communist country and all wealth should be even.. those who make the most NEED to give to those who sit on their asses! these are the same people who believe in rights for prisoners.. you know the right to a college degree, the right to cable TV, the right to a sex change! The same people who believe people who come to the USA illegally have also earned rights.. the right to steal identities, to sponge off the welfare system, etc.. What the heck is wrong with these idiots???

So lets reflect on the depression..

• During the 1920s, stock prices had more than quadrupled.
• But on Oct. 28, 1929, the Dow Jones average fell 13 percent in a single day, another 12 percent the next and 10 percent more a few days later.
• Stocks bottomed out in 1932 – down 80 percent from the peak.
• Millions of people lost their jobs.
• The banking system went into convulsions. About 9,000 banks failed in panics between 1930 and 1933, and hundreds of others were closed by the Roosevelt administration in the first days of its term.
• The nation’s economic output plunged by a third

Yes our current fiasco is not the depression.. but there are some similarities..

America in the 1920s was swept up in a boom. In some respects, it was a bubble, one that was bound to pop.

The bubble was clearly evident in real estate, most notably in Florida. It was cheap to borrow, and investors plowed money that wasn’t theirs into new cities fashioned out of swamps, hoping to take advantage of sharply rising housing prices. When land values began to fall, they couldn’t make payments, squeezing banks.

Hey wanna buy some swamp land?

I think we all saw/felt the bubble in house prices.. we had a home for 5 years..it pretty much doubled in “value”.. Now some areas are still seeing a slow-steady increase, others have leveled off.. others are seeing a “correction” and their homes are not worth what they bought them for 2 or 3 years go..

Fed policymakers viewed the soaring stock prices of the 1920s as fueled by immoral speculation. They responded by raising interest rates in an effort to restrict the supply of cheap cash.

The Great Depression also was characterized by a growing sense of mistrust and fear.

Consumers and businesses who had relied on cheap credit were struggling. The prices of the goods they made and sold were dropping, and many began to default on their loans. Scores of banks went bust.

At that point, the 30-year home loan had not been developed. Most people had loans they needed to renew every five years. But with some banks out of business, they had nowhere to go.

The financial institutions, cheap credit.. defaulting on loans.. that is way too much déjà vu !

Relying on the government to regulate things.. to have their hand in everything.. to fix when things are broken.. that is not what they are there for (obviously, they can not handle it).. it is like one person overseeing 100 toddlers.. it is nearly if not completely impossible. That person maybe able to prevent one disaster, yet 10 others will occur. The ideal thing is for areas of “small-government” and individuals to keep things in check.

Simply expecting bail outs, or demanding help every-time we can not handle something on own.. how pathetic does that make our country, our people look? It is shameful! I am embarrassed by it all! I was amazed when the foreclosures started occurring.. it seemed impossible to me.. I thought.. no one can be that stupid!

People just surrender their will to easily to the government! Stop it! When you fall, are you going to wait for Uncle Sam to kiss and bandage your boo-boo? Folks this was a strong nation once.. get past the petty crap (race, religion, orientation.. blah-blah-blah).. read a history book, re-learn what we stand for.. and live it!

PS.. AND….Don’t vote for Obama.. he will be the ruin of this country!

Gazette.com

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