Is the world facing financial disaster

agent_orange_2

With the worlds financial institutions on their knees, is there anyone out there fearing for anything other than their own savings?
As an example of human nature, on this website, we have seen how people have been ready to turn on Martin.
Soon, Nation could turn on Nation. European Governments taking unilateral measures to safeguard themselves, acting in their own interests. The spectre of nationalism, in the worse sense of the word, could take hold. Where powerful nations will strive to ensure their own survival

It's all in the history books

jarjarmustdie

i think the safest place for our money right now is under ours beds(providing you dont get burgled)
it cetainly feels like armagedon is on the way:mad:

agent_orange_2

Well, with the lack of responses, I can assume people are only concerned with their own savings. I don't suppose I should be surprised. Let us hope this is nothing more than a cyclical stock market crash or you'll all have a little more on your plates to worry about.

Robertpestonrules

agent_orange wrote: »

With the worlds financial institutions on their knees, is there anyone out there fearing for anything other than their own savings?
As an example of human nature, on this website, we have seen how people have been ready to turn on Martin.
Soon, Nation could turn on Nation. European Governments taking unilateral measures to safeguard themselves, acting in their own interests. The spectre of nationalism, in the worse sense of the word, could take hold. Where powerful nations will strive to ensure their own survival

It's all in the history books

Wasn't Hitler and his regime a by product of the last "great depression"

StevieJ

Robertpestonrules wrote: »

Wasn't Hitler and his regime a by product of the last "great depression"

No, that was a result of the WW1 victorious nations claiming to much off Germany in reparations, leading to bankruptcy. That is why they were much more careful after WW2.

agent_orange_2

You are correct Robert, This financial calamity will probably be laid at the door of the zionists.

Forgive the long cut and paste


[SIZE=+1]Great Depression Begins[/SIZE]

When the stock market collapsed on Wall Street on Tuesday, October 29, 1929, it sent financial markets worldwide into a tailspin with disastrous effects.
The German economy was especially vulnerable since it was built out of foreign capital, mostly loans from America and was very dependent on foreign trade. When those loans suddenly came due and when the world market for German exports dried up, the well oiled German industrial machine quickly ground to a halt.
As production levels fell, German workers were laid off. Along with this, banks failed throughout Germany. Savings accounts, the result of years of hard work, were instantly wiped out. Inflation soon followed making it hard for families to purchase expensive necessities with devalued money.
Overnight, the middle class standard of living so many German families enjoyed was ruined by events outside of Germany, beyond their control. The Great Depression began and they were cast into poverty and deep misery and began looking for a solution, any solution.
Adolf Hitler knew his opportunity had arrived.
In the good times before the Great Depression the Nazi party experienced slow growth, barely reaching 100,000 members in a country of over sixty million. But the Nazi party, despite its tiny size, was a tightly controlled, highly disciplined organization of fanatics poised to spring into action.
Since the failed Beer Hall Putsch in 1923, Hitler had changed tactics and was for the most part playing by the rules of democracy. Hitler had gambled in 1923, attempting to overthrow the young German democracy by force, and lost. Now he was determined to overthrow it legally by getting elected while at the same time building a Nazi shadow government that would one day replace the democracy.
Hitler began his career in politics as a street brawling revolutionary appealing to disgruntled World War One veterans predisposed to violence. By 1930 he was quite different, or so it seemed. Hitler counted among his supporters a number of German industrialists, and upper middle class socialites, a far cry from the semi-literate toughs he started out with.
He intentionally broadened his appeal because it was necessary. Now he needed to broaden his appeal to the great mass of voting Germans. His chief assets were his speech making ability and a keen sense of what the people wanted to hear.
By mid-1930, amid the economic pressures of the Great Depression, the German democratic government was beginning to unravel.
Gustav Stresemann, the outstanding German Foreign Minister, had died in October 1929, just before the Wall Street crash. He had spent years working to restore the German economy and stabilize the republic and died, having exhausted himself in the process.
The crisis of the Great Depression brought disunity to the political parties in the Reichstag. Instead of forging an alliance to enact desperately need legislation, they broke up into squabbling, uncompromising groups. In March of 1930, Heinrich Bruening, a member of the Catholic Center Party, became Chancellor.
Despite the overwhelming need for a financial program to help the German people, Chancellor Bruening encountered stubborn opposition to his plans. To break the bitter stalemate, he went to President Hindenburg and asked the old gentleman to invoke Article 48 of the German constitution which gave emergency powers to the president to rule by decree. This provoked a huge outcry from the opposition, demanding withdrawal of the decree.
As a measure of last resort, Bruening asked Hindenburg in July 1930 to dissolve the Reichstag according to parliamentary rules and call for new elections.
The elections were set for September 14. Hitler and the Nazis sprang into action. Their time for campaigning had arrived.
The German people were tired of the political haggling in Berlin. They were tired of misery, tired of suffering, tired of weakness. These were desperate times and they were willing to listen to anyone, even Adolf Hitler.

StevieJ

Keynes

Keynes writes The Economic Consequences of Peace, castigating the allies for the punitive reparations they had imposed on Germany at the end of the war.

In one passage of the book he writes chillingly of what might be unleashed in Europe:

"If we aim deliberately at the impoverishment of Central Europe, vengeance, I dare predict, will not be limp. Nothing can then delay for very long that final Civil War between the forces of Reaction and the despairing convulsions of Revolution, before which the horrors of the late German war will fade into nothing, and which will destroy, whoever is victorious the civilization and progress of our generation."

(The subsequent rise of Adolf Hitler in an economically desperate Germany is held by many observers to justify Keynes's condemnation of the punitive actions taken by the allies against Germany following World War One.)

rail.link

Yeah, it's the end of the world, again. :rolleyes:

sabretoothtigger

Remember that 'make poverty history' campaign. I was just thinking how if this plays out to its end with debts being realised at 10 cents in the dollar then comparatively all those people stuck working for a month to earn a 1st world days wages might be so much better off

In real terms the third and developing world might realise the silver lining to our downfall with a greater equality globally. I doubt it'll be that simple but in 10 years they could be stronger economies compared to now.

Btw Germany is still paying back its world war one debt to this day apparently. The uk recently repaid their ww2 loan

amcluesent

What we are experiencing is another sharp step in the transfer of economic power to the East, esp. India and China. China is a repressive single-party state, so who knows what could kick-off there in due course. Having a sustainable economy without some representative democracy has never work, as the planner fails due to growing complexity of the problem.

And we should also recognise that all of the Sovereign Wealth funds which are buying assets on the cheap are countries with out any democratic processes, notably the Dar' al Islam, which export terrorism.

As we are now post peak oil, peak food and peak water I'd say the outlook was bleak indeed. English standard of living could return to that of the mid 1800s within a generation.

edwinac_2

StevieJ wrote: »

No, that was a result of the WW1 victorious nations claiming to much off Germany in reparations, leading to bankruptcy. That is why they were much more careful after WW2.

The 'war reparations' imposed through the Treaty of Versailles were cooked up by Morgan, Mellon, Harriman, du Pont, and others, to enslave Germany in debt...

Professor Abber Lerner, a protege of Keynes, made the extraordinarily unguarded remark that if Germany had kept up with its debt payments (in gold), and had continued the severe economic austerity policies of Reichsbank chief, Hjalmar Schacht, a puppet of London's Montagu Norman - then "we wouldn't have needed Hitler."

This was a tacit admission that the international financier oligarchy was instrumental in installing the fascist Nazi regime.

Arguably, Max Warburg, Averell Harriman, Prescott Bush, and many other banksters from NY and London should have hanged at Nuremberg.

See: Dubya's Grandpa and Great-Granddad Helped Put Adolf Hitler into Power