[Cashmere]

UK Telegraph

$this->bbcode_second_pass_quote('', 'O')il has queered the pitch. So has America's fatal reliance on foreign debt. The Fannie/Freddie rescue, incidentally, has just lifted the US national debt from German 'AAA' levels to Italian 'AA-' levels.

[MrBill]

A good article. I am probably in the minority in seeing this as a global problem and not just a US or US-dollar problem. I think we are in a rolling, global recession going west to east, and round two starts when it rolls back onto American shores at the end of 2008/start of 2009. Then it starts over again. The global imbalances are simply too large to be unwound in an orderly manner. Thanks for the link.

[Cashmere]

$this->bbcode_second_pass_quote('MrBill', 'A') good article. I am probably in the minority in seeing this as a global problem and not just a US or US-dollar problem. I think we are in a rolling, global recession going west to east, and round two starts when it rolls back onto American shores at the end of 2008/start of 2009. Then it starts over again. The global imbalances are simply too large to be unwound in an orderly manner. Thanks for the link.

[Byron100]

But what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?

All this waiting is getting on my nerves, I want it to happen NOW.

Then perhaps we can begin work on a new, *non-capitalistic* economic system.

It's just too darned bad that the USSR isn't still around, demonstrating an alternative way of doing things for when the capitalistic system crashes down. Did you know that some Americans were actually immigrating over there in the 1930's for jobs, food and housing, which they could not obtain here? Yep, America ain't all what it's cracked up to be, for sure. What we have here now (and the most of the world too) is a total illusion, brought to us by the siren call of cheap oil.

And before you folks jump all over me for being a pinko communist, lemme tell you, life in the Soviet Union in the mid 20th Century was a whole damn sight better than places such as Africa, South America, etc.

[Cashmere]

$this->bbcode_second_pass_quote('Byron100', 'B')ut what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?

[FoxV]

$this->bbcode_second_pass_quote('Byron100', 'B')ut what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?

All this waiting is getting on my nerves, I want it to happen NOW.

[Kingcoal]

Excellent article. Currently, the talking heads are going on about how oil might drop into single digits. God they are so lost. Strategy is constantly one of trying to buy more time. Why? Do the powers that be actually think that we are going to be saved by a dramatic drop in oil prices? Maybe they just want to try to blame it all on the next administration.

[skeptik]

$this->bbcode_second_pass_quote('Byron100', 'B')ut what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?

[charliebrownout]

$this->bbcode_second_pass_quote('skeptik', '')$this->bbcode_second_pass_quote('Byron100', 'B')ut what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?

[nobodypanic]

$this->bbcode_second_pass_quote('FoxV', ' ')First easy money to Member banks
then easy money to investment banks
Now easy money to GSE's
Next easy money to regional banks
Finally, easy money to J6P

[Cashmere]

Well, this is why I asked the poster about what would signify "official".

Really, we're already in the descent - I guess some people just need to hear/see something in particular to confirm it.

[NoWorries]

Actually this item from Ambrose Evans Pritchard is a lot more toned-down than his previous reports. In his 29 December 2007 item he quoted analysts as saying that the coming crash would "make 1929 look like a walk in the park": link

Now he seems to have retreated from that view.

[CarlosFerreira]

We're all guessing hard. It's been said before: Marx talked about the excess of growth due to stock markets, and he didn't even dream of derivatives, hedge funds and whatnot. He was an economist, a good one. He understood - like many before and after him - that you can't make value out of thin air, and that's what our economy's been doing for decades. It's due to collapse. They could probably get away with it, if it wasn't for Peak Oil (peak everything, really) crunching consumer goods industries and bringing troubled over large corporation that exist in the stock market.

If, along with all the stress, the warmongers don't stop and understand it's going to precipitate the problem they're running away from, it will be worse - and quicker - but will only bring about the inevitable, without a hint of warning to the masses that believe. Bless them!

If the current paradigm is maintained, and steps are made to fix it, it will also break, but it will take longer and allow some time to prepare. Either was, globalization (all of it, not just the financial part) is going apart with cheap energy. RIP.

[Snowrunner]

$this->bbcode_second_pass_quote('NoWorries', 'N')ow he seems to have retreated from that view.

[Micki]

$this->bbcode_second_pass_quote('Byron100', 'B')ut what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?
All this waiting is getting on my nerves, I want it to happen NOW.
Then perhaps we can begin work on a new, *non-capitalistic* economic system.
It's just too darned bad that the USSR isn't still around, demonstrating an alternative way of doing things for when the capitalistic system crashes down. Did you know that some Americans were actually immigrating over there in the 1930's for jobs, food and housing, which they could not obtain here? Yep, America ain't all what it's cracked up to be, for sure. What we have here now (and the most of the world too) is a total illusion, brought to us by the siren call of cheap oil.
And before you folks jump all over me for being a pinko communist, lemme tell you, life in the Soviet Union in the mid 20th Century was a whole damn sight better than places such as Africa, South America, etc.

[Snowrunner]

$this->bbcode_second_pass_quote('Micki', 'P')LEASE gor God sake, can't you see how communism IS the NWO in practice. Enslaved people being told at the barrel of a gun what to do, think and say.

[Micki]

$this->bbcode_second_pass_quote('', 'C')ommunism wasn't really ever tried. It was Stalinism which basically used the image of Communism to lull the people in. Likewise it is done today in the "englightend" West when it comes to Capitalism.

[cube]

$this->bbcode_second_pass_quote('FoxV', '')$this->bbcode_second_pass_quote('Byron100', 'B')ut what I wanna know is when the world "officially" tips into depression, on par with the 1930's. A year from now, 3 years from now? Next month?

All this waiting is getting on my nerves, I want it to happen NOW.

[cube]

I have severe issues with this theory that we can inflate our way out of this mess.
I think inflation is like taking steroids or drugs......it works in the beginning but in the end you reach a "saturation point" where no amount of stimulants can jump start the system. Collapse is unavoidable.

[Micki]

$this->bbcode_second_pass_quote('cube', 'I') have severe issues with this theory that we can inflate our way out of this mess.
I think inflation is like taking steroids or drugs......it works in the beginning but in the end you reach a "saturation point" where no amount of stimulants can jump start the system. Collapse is unavoidable.