I'm reading so many alarming predictions

[leftofthedial]

of a massive, unprecedented depression and other looming economic meltdown.


Can anyone reassure me at all? I don't really have much to lose, but I fear for my kids and my loved ones.

[NMDemDist2]

1. well, it looks pretty bad but

they have been telling me the world was ending since I was old enough to read

but we're in for a bumpy ride for sure

:pals:

[bbinacan]

2. I'm reminded of the old phrase

that goes something like this. Nothing is as bad as predicted or feared. And nothing is as good as predicted or hoped for. Hang in there, we'll soon have a new President.:hug:

[Dave_Fl_50]

9. I'm reminded of Lilly Thomlin's advice

Things ar only going to get worse until they get realy, really horrible

[bbinacan]

13. How about

It's always darkest before the dawn.

[liberal4truth]

42. It would be very funny, if it wasnt so true. Where is *OUR* FDR ?

[leftofthedial]

18. that's one promising note!

thanks

[bbinacan]

25. You're very welcome. n/t

[peacetalksforall]

28. The scariest fear I have is that Cheney will not leave the WH. He

will have the title formally, Rumsfeld will be VP, Libby and Addington will be back, all their other friends too, and the prisons will be full and Hallibruton and their subsidiearies will be running all the other corporations. By decree.

[bbinacan]

33. WHAT?

:wtf: I hope that comment was a joke.

[peacetalksforall]

35. Not really a joke. When I hear someone say 'when we take the WH'

I wonder if it is going to be allowed. Most of the House and about all of the Senate (in particular) have done nothing to fight for our vote, expose the thefts, and dictate integrity in casting and counting. They can't seem to bear shining any lights on it.

Those who run Cheney have not attained their goals. They don't respect or allow Congress to work, they have been operating by decree, there is nothing about our system that they follow. Their goal is the earths' resources and our servitude. Everyone says that they can't do anything right, but they have shown us how well they can destroy.

[Speck Tater]

3. Part of the problem is that...

... too many people prefer reassurance to truth.

Personally, I think it's going to be worse that the Great Depression, and we no longer have the huge industrial infrastructure to pull us out of such a deep slump. We simply no longer manufacture anything of value in this country. Nor do we even have the capability to manufacture anything of value any more, so the next time the economy crashes, it's going to stay crashed for a very long time, and possibly permanently.

[nancyr]

7. Things look bleak.

I can remember my grandfather saying in the 1950's that the use of credit would be the financial downfall of the country. Perhaps he was correct. I fail to see how anyone can be very optimistic if they look realistically at how deep the problems are.

[liberal4truth]

41. And we have the prision industrial complex, where many people are going to end up, thanks to *.

and his tanked out economy and job losses.

Many people will have to steal to eat, very soon. :-(

[sendero]

50. The use of credit..

... is fine. It is the abuse that is the problem, and Americans have taken to abusing credit.

[janetblond]

12. We are in for a 1929 style Depression ...

Massive Unemployment due to massive outsourcing (NAFTA)
Stagnant wages (due to massive insourcing)
Slow economic growth (we are debtor nation)
Collapsing U.S. currency
(wealthy foreigners will "buy America" cheap .. a "fire sale", so-to-speak; our roads, our real estate)
1929 style Stock Market crash ...
Recession
Inflation
Stagflation
$4/gallon gas
Inflated commodity prices ($4 for a box cereal)
Water shortages (due to droughts brought on by global warming)
Katrina type homestead losses (due to weather extremes; hurricanes, tornadoes)
Contaminated foodstuffs and clothing imported from unknown sources, but primarily China
Viral Pandemics
Corporate and Municipal Bankruptcies (Banks in particular, similar to the Savings & Loan debacle of the 80's. Collapse of the Bond Market)
Homelessnes, personal bankruptcies, suicides ...

[bbinacan]

29. Bull Shit

I have no doubt the US will recover. We do have a new President coming.

[janetblond]

48. Check the news on your DRINKING WATER!

1/2 of America is drinking other people's drugs ...
and god only knows what else!

[leftofthedial]

19. but we do have the talent and creativity of our people

and a screaming need for alternative energies and green solutions

[abelenkpe]

52. We make movies

Ok, maybe I'm just hoping we'll still make movies.

[panader0]

4. I don't think it will so horrible.

I do construction and yes, it is suffering now. But certain things are certain (besides death and taxes). Growth is certain. The need for an alternative to petroleum based economy is certain. Put some investment into solar or other alternative energy futures. It has to be.

[Vincardog]

16. Growth is certain? The "economy" has growth at its' core like a cancer. Nothing can

grow at an increasing rate forever.

[leftofthedial]

20. why is growth certain?

the need for alternative energies and green solutions is compelling. But I don't see how infinite growth is good for anything. It is the very definition of cancer.

[bhikkhu]

40. The mantra of growth is at the core of 400 years of economic theory

and, yes, it is the very definition of cancer. Those who should be managing for a future where growth is not a certainty find they have no cognitive tools at hand.

[ayeshahaqqiqa]

5. It will be transformational

We have to move from a consumer society eating up non-renewable resources, ignoring crumbling infrastructure, and thinking only of ourselves. I think this can only happen with an economic collapse. But I also think that, with the right people in the WH and Congress, we can turn things around rather quickly. It will be a whole change of mindset, and in the end, your kids and loved ones will be the better for it.

[leftofthedial]

21. I also think it might change things profoundly and start a new era

Historically though, this kind of disaster frequently launches a "dark ages"

I see NO signs at all of the right people in our political system.

I hope the changes are that quick to come. I know my kids will be part of a solution if there is one.

[NJCher]

32. we can survive bad leaders

That's what Ruppert said during his last trip around the U.S. He, too, was gloomy about the economy but he said the one bright spot was that throughout his travels, the American people were coming up with energy alternatives. He said they knew their leaders weren't going to do it, so they were doing it.

There's a lot to be said for letting the solutions to these many problems evolve from the grassroots on up.

And who knows--maybe there will not be a large, monolithic U.S. like there has been in the past. Maybe the U.S. will be broken up into five regions--still the U.S.--but very loosely formed and with more responsiveness to the people of each area.



Cher

[NC_Nurse]

6. I think some uncomfortable transitions will have to be made.

The future always holds opportunities and possibilities for those of us who are
flexible and open to change. I'm hoping the government will be forced to start
really putting an effort into domestic infrastructure and green technlogy - and at
the same time create good-paying jobs that produce something besides more shit
for the landfill!

[leftofthedial]

31. when the going gets weird

the weird turn pro

[KarenS]

8. I cannot reassure you because

I've been worried too. I have been doing "little" things though,,,, Like having a garden, buying canned goods on sale, having bicycles in good repair, putting a small amount of cash away each payday, buying a solar oven ~ most of all, I've just been steeling myself for it mentally.

[spag68]

17. where did you buy a solar oven?

[KarenS]

30. here's a link

http://www.sunoven.com/usa.asp

it's pretty much like a crockpot that doesn't use electricity

[TalkingDog]

38. Dood...build your own.

http://solarcooking.org/

Lots of GREAT projects here that are not hard to make.

[leftofthedial]

22. those are all good things

I wonder if cash will even be worth anything.

[MercutioATC]

10. Nope, you're screwed.

Whether it's in the next 6 months, the next 6 years, or 25 years from now, this country is spending one hell of a lot of money it doesn't have. Couple that with increased concentration of what wealth there is left and it's a lousy picture for 90% of Americans.

As a rule of thumb, if you make little enough to ask this question, yes, you're doomed.

[leftofthedial]

23. I make basically zero. I'm at a bare subsistence level.

I think of it as being ahead of many others who haven't learned how to live that way.

[NJCher]

46. you have the best skills of all, then

This is what it will take. People don't think of these as skills but they definitely are!



Cher

[elocs]

11. You will hear doom and gloom, the sky is falling predictions all the time.

There are people who lead their lives in fear of disaster, or an almost perverse anticipation of disaster. Spend your life indoors to avoid getting rained on and you will not get wet, but you will miss many beautiful days too. Live of life of balance and common sense and you will not go far wrong. You will find no matter how well and how much you prepare it may never be enough and your fear of an upcoming disaster will consume you.

[enid602]

14. new government

There's always that possibility that a new government will enhance receipts (by taxing the most wealthy) and will redirect spending away from war to social needs, states, schools, infrastructure, etc. The reason you don't hear people in other countries complaining much about free trade is that their governments encourage certain industries, and don't give incentives for offshoring jobs and profits. They also protect their currencies by holding down government spending, encouraging tourism and exports and limiting imports overall to the amount they export.

[bronxiteforever]

15. Well we went through a depression and beat Hitler and Tojo.

and survived. However, I fear that the GOP has made cruelty a national value which will not serve the country in this crisis

[Extend a Hand]

24. Sometimes really hard times bring out the best in people

I hope that will be the case this time, as things are looking pretty bleak.

[gravity]

26. We are not going to face a depression or economic collapse

We will probably experience a recession which means fewer jobs and harder times, but it isn't the end of the world. Chances are that our economy will recover again in the next few years.

[lonestarnot]

27. No one knows for certain what tomorrow holds. Roll with the flow.

Remember Janice Joplin? Freedom is having nothing left to lose? Worry will not help things get better and will only make you sick although I have been guilty myself lately. When I catch myself worrying too much or losing sleep, I remember my honery streak and I find peace. :hug: oh and on edit maybe you should read some books by Studs Terkel.

[leftofthedial]

36. I'm pretty loose

like I say, I'm worried for my kids.

[lonestarnot]

45. honery

ornery and horney :evilgrin:

[Warpy]

34. The problem is that the major crash has already happened

and we're just getting it down to our level in little driblets of bad news.

The major crash consisted of the meltdown in the exotic securities markets once everybody who was trading them realized they were worthless paper created from hacking up subprime loans. The banks have been trying to write down a little at a time so that they don't create a panic, but eventually the drumbeat of bad loans followed by margin calls followed by more bad paper writeoff is going to convince everybody to tighten the belt, cut the credit card up, and go into survival mode.

The debt generated spending spree is over, in other words, and people are going to have to learn how to manage subsistence while servicing their debts.

Crashes tend to be self sustaining, the vicious cycle of reduced spending leading to more unemployment leading to more sharply curtailed spending, unless government interferes at some point in the cycle. Government can't borrow itself out of this one like FDR did. It's going to have to tap the rich and they are not going to like it since half their wealth has already been eaten up by the fall in the dollar.

Unfortunately, we have 3 conservatives running for office this time. We'll just have to hope one of them gets desperate enough to read a little history and find out what worked 70 years ago to break the vicious cycle and restart the economy. If they don't, we're finished.

[leftofthedial]

37. FDR was a rich guy who saw the light

maybe one of the corporatists this go-round will as well.

[dixiegrrrrl]

53. A major clue of the beginning of the unraveling was

when Halliburton moved to Dubai.
We moved from the city to the country as fast as we could after that.
Ya gotta know that when Cheney's money leaves the USA, something bad is coming.
The rumble of the tumble has, as you say, happened awhile back, was being commonly predicted by spring of last year.

to these old eyes, doesn't matter if it is the worse recession, or a repeat of 1929, being free to grow gardens and within walking distance of stores is important.
I am encouraging my grown sons to move to France....no kidding.

[bhikkhu]

39. Learn to grow food, have a nice vegtable garden this year.

Good predictions are it will be a hairy one, and a tough winter for many. Whether predictions are right or wrong, you still have fresh veggies - so much better than store bought.

[leftofthedial]

43. good advice

but I have no land.

[janetblond]

44. Cheers! Drink up!

A soup of pharmaceutical waste spews from the faucets supplying drinking water to 41 million Americans, according to a disturbing study from the Associated Press. At least 24 major cities are affected, including New York, Washington, Boston Chicago, and Los Angeles.

Here are some of the key test results obtained by the AP:

Officials in Philadelphia said testing there discovered 56 pharmaceuticals or byproducts in treated drinking water, including medicines for pain, infection, high cholesterol, asthma, epilepsy, mental illness and heart problems. Sixty-three pharmaceuticals or byproducts were found in the city's watersheds.
Anti-epileptic and anti-anxiety medications were detected in a portion of the treated drinking water for 18.5 million people in Southern California.
Researchers at the U.S. Geological Survey analyzed a Passaic Valley Water Commission drinking water treatment plant, which serves 850,000 people in Northern New Jersey, and found a metabolized angina medicine and the mood-stabilizing carbamazepine in drinking water.
A sex hormone was detected in San Francisco's drinking water.
The drinking water for Washington, D.C., and surrounding areas tested positive for six pharmaceuticals.
Three medications, including an antibiotic, were found in drinking water supplied to Tucson, Ariz.
The situation is undoubtedly worse than suggested by the positive test results in the major population centers documented by the AP.
http://consumerist.com/365629/ap-41-million-americans-drink-water-contaminated-with-antibiotics-anti+convulsants-mood-stabilizers-and-sex-hormones

[NJCher]

47. not to worry

There are lots of things you can do with pots--in fact, there is at least one book written on this topic.

If you are a tenant, I know of tenants who have approached the landlord and put gardens on the property. There are also plots you can get from various organizations that sponsor them.

Start learning how to do worm composting in a kitchen cabinet. I did it for years and not once did a worm escape.



Cher

[shireen]

49. I REFUSE to accept that it will be a another "big depression"

It will be an economic crisis and there will be major disruptions in the current financial infrastructure. The people in the financial sector will be in for a rude awakening.

But there will be major shifts in the way people conduct themselves and assign priorities. Somehow, the regular folks like most of us will find a way to rally and support each other. It will be easier in small communities and close-knit neighborhoods. But harder in large cities. We will finally see real leaders emerge, those driven by the greater good and not by money. This is going to be hard but instead of being pessimistic and gloomy, let's unleash that so-called American ingenuity and put it to work.

We need to start thinking outside the box, to figure out alternative ways to support our society. DU is a good place to start this dialog.

[Speck Tater]

51. What a lovely fantasy.

The reality is quite different, however.

Sometime around Aug, Sep, Nov of this year the proverbial dam will break on Wall Street and an accelerating spiral decent will leave the USA unable to recover. From that point on we will be on an unwavering path to third-world status.

This time is different from the past. This time we have no huge industrial base to serve as the foundation of a new recovery. We have gutted our economy and our nation, and we have nothing left to fall back on. This is the end of the empire. Make some popcorn while the electricity still works, then sit back and enjoy the show.