Posted:
#1
It’s going to be worse than the Great Depression of 1929 and I’ll give you a some reasons why.
1) In the 1929 Depression, not many people owned homes, so they weren’t carrying that heavy mortgage load. The people who did have homes did not have something called ‘home equity loans,’ which is more money owed on top of the other money. They used to have something else back then called a ‘second mortgage.’ If you had one, you were a loser.
2) Back in the 1929 Depression days, people didn’t have things called ‘credit cards.’
3) The United States didn’t have $14 trillion worth of debt.
4) We still had a manufacturing base in the United States so that when WWII broke out and the economy improved afterwards, we were still able to produce more so than any other country in the world. But now, the U. S. off-shores so much manufacturing now.
5) Back in the Great Depression of 1929, the U. S. government was not $14 trillion in debt and they had a trade surplus, not a trade deficit.
6) We weren’t fighting two wars that have sapped already $2 trillion from our American treasury and it’s getting worse.
1) In the 1929 Depression, not many people owned homes, so they weren’t carrying that heavy mortgage load. The people who did have homes did not have something called ‘home equity loans,’ which is more money owed on top of the other money. They used to have something else back then called a ‘second mortgage.’ If you had one, you were a loser.
2) Back in the 1929 Depression days, people didn’t have things called ‘credit cards.’
3) The United States didn’t have $14 trillion worth of debt.
4) We still had a manufacturing base in the United States so that when WWII broke out and the economy improved afterwards, we were still able to produce more so than any other country in the world. But now, the U. S. off-shores so much manufacturing now.
5) Back in the Great Depression of 1929, the U. S. government was not $14 trillion in debt and they had a trade surplus, not a trade deficit.
6) We weren’t fighting two wars that have sapped already $2 trillion from our American treasury and it’s getting worse.
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