tag:blogger.com,1999:blog-27697009.post3702136159802002751..comments2024-02-29T03:21:35.007-08:00Comments on The Great Depression of 2006 : 1929 Was DifferentJim in San Marcoshttp://www.blogger.com/profile/09435296419912935381noreply@blogger.comBlogger63125tag:blogger.com,1999:blog-27697009.post-12798177944160861382009-03-09T22:01:00.000-07:002009-03-09T22:01:00.000-07:00Hi AimI believe that the immigrant base entering t...Hi Aim<BR/><BR/>I believe that the immigrant base entering the country knows how to max out and make it. They are not spinning their wheels. Their kids are in the top of their class and grabbing the college scholarships. There might be some hope there.<BR/><BR/>I tend to agree with your rhetoric on the state of the nation. It is going down hill slowly.<BR/><BR/>I would like to recommend a book for you to read. It is called "The Tyranny of Words" by Stuart Chase it was written in 1938. It changed my life and the way I think immensely (it's about words and semantics). It is not a book for everyone, you have to be a thinker of sorts, and you seem to fit the mold.<BR/><BR/>Hope you like it.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-70394106522360418022009-03-09T13:41:00.000-07:002009-03-09T13:41:00.000-07:00I think Rob in NS is correct.We can't complain abo...I think Rob in NS is correct.<BR/><BR/>We can't complain about the growth of government and it movement towards more and more of a socialist state.<BR/><BR/>This is due to the mentality of the general populace which has been "trained" to receive fish instead of learning how to fish.<BR/><BR/>This "training" comes from our educational system, from TV, movies, magazines and books... of which the majority of them are on a continual downward spiral of degradation.<BR/><BR/>Our government is a reflection of the populace. Responsibility, self-reliance, integrity, character, and intelligence have been replaced by lower non-survival characteristics.<BR/><BR/>You can't have a strong democratic republic with a small efficient government and a prosperous nation based on weak human fundamentals.<BR/><BR/>These are the elements (along with violence) that have destroyed every past civilization.<BR/><BR/>AIMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-28334968437502090622009-03-09T06:53:00.000-07:002009-03-09T06:53:00.000-07:00I should have said isn't the cure but anyway.........I should have said isn't the cure but anyway......Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-411463396010590822009-03-09T06:52:00.000-07:002009-03-09T06:52:00.000-07:00I agree with Anon 11:10 when he says government is...I agree with Anon 11:10 when he says government is the cure to all our problems. Self reliance is the underlying theme to Ron Paul's ideals. It is a worthy goal. My grand parents on my Dad's side came from large families and they together raised 11 children in the depths of a depression. They taught me at a young age by example to be able to fend for oneself and rely on nobody. It was people like them that got us thru the last big D. Sadly I don't see many like them alive these days. We have grown accustomed to government fixing everything. I'm sure my grand dad didn't wait for hand out from government before tending the fields while trying to raise his family. The reason why government is so big now is because the majority of people on Wall Street and Main Street want it that way. Unfortunately if we reduce the size of government and it's programs it will directly impact a large percentage of population which have been raised for generations feeling a sense of entitlement that they can do nothing and still get by. They do not realize still that it is these policies which will doom them in the end. Right now it looks like it is free loaves of bread for everyone and bigger more elaborate circuses. I guess history does repeat itself it's just a matter of having the patience to wait about 2000 years.....<BR/><BR/>RobAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-13467690281618599842009-03-09T06:37:00.000-07:002009-03-09T06:37:00.000-07:00Hi Anon 11:10I agree, that's why I keep politics o...Hi Anon 11:10<BR/><BR/>I agree, that's why I keep politics out of this blog. You can fault congressmen for their religious beliefs or sexual preferences, drug habits and the list goes on.<BR/><BR/>As a group they have our best interests at heart. They didn't get us into this mess, but I am afraid we will hold them accountable, it happened on their watch. A lot of them will not be re elected.<BR/><BR/>Thank you for your comments.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-68110396618789648942009-03-08T23:15:00.000-07:002009-03-08T23:15:00.000-07:00Sorry to say, but I must tell the truth, when I se...Sorry to say, but I must tell the truth, when I see Joseph's name at the top of the post I just skip over it an move onto the next one. I don't read this blog to get upset and frustrated, I read it to learn and hear valid insights and solutions.<BR/><BR/>AIMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-70693660640568937382009-03-08T23:10:00.000-07:002009-03-08T23:10:00.000-07:00Politicians never have and never will solve our so...Politicians never have and never will solve our societal problems. They just keep making government larger and more complex and exacerbate our problems. With them, today's solution becomes tomorrow's problem. Politicians turned a correction and recession into a long term depression back in the 30's. They'll so it again this time. Obama's main speech writer is a 28 year old that studies FDR. When Obama speaks he sounds just like FDR. <BR/><BR/>Ron Paul is not your average politician. He has common sense. The majority of his cohort in Congress smirk at him... which just shows you how far off the mark they are. Look at the mess they've made of this country. <BR/><BR/>I don't appreciate these slights that I'm reading in this blog about him. If he had had some sway and influence on Congress over the last 10 years we wouldn't be in the mess we are now.<BR/><BR/>You denigraters and ridiculers of Ron Paul do because he is over your heads.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-39465084019043798382009-03-08T22:55:00.000-07:002009-03-08T22:55:00.000-07:00Hi Anon 9:33If you're married, you sex life just g...Hi Anon 9:33<BR/><BR/>If you're married, you sex life just got thrown out the window.<BR/><BR/>My wife votes all of the time, I have yet to win an election.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-48392277593354643312009-03-08T21:33:00.000-07:002009-03-08T21:33:00.000-07:00It's the 19th amendment that needs repealing. Eve...It's the 19th amendment that needs repealing. Everything went to pot after the 19th amendment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-65450651586871647552009-03-08T20:15:00.000-07:002009-03-08T20:15:00.000-07:00JosephI'm speechless at the depth of your argument...Joseph<BR/><BR/>I'm speechless at the depth of your argument.<BR/><BR/>RobAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-38197419625606489102009-03-08T20:08:00.000-07:002009-03-08T20:08:00.000-07:00Hi Rob and 1:36 AKA 4:45I know who Rob is and Anon...Hi Rob and 1:36 AKA 4:45<BR/><BR/>I know who Rob is and Anon is everyone else. When I read the 4:45 remark I saw the rhetoric and thought that Richard Nixon had risen from the dead. There had to be a message in there somewhere! I gave serious thought to deleting it, but figured it better to answer it. My first comments to you were pretty much directed at anyone wanting to start a flame war. <BR/><BR/>Your second post was more informative and I agree, the people who have all the solutions are part of the problem. I think that anon 12:27 has some anger management issues. My jab at him about 'roids (hemorrhoids) maybe didn't register.<BR/> <BR/>Last month I wrote something disagreeing with our governments approach to solving this mess and one poster called me a "white racist republican for not supporting Obama." I couldn't believe it. It wasn't worth answering, I deleted it. It's surprising how what is written can be interpreted so differently.<BR/><BR/>When you go to post a comment,you can select the Name/URL choice instead of Anonymous and type in what you want for a name. It makes it easier to follow as a reader.<BR/><BR/>Thank you for your commentsJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-35328691442606671432009-03-08T19:59:00.000-07:002009-03-08T19:59:00.000-07:00As for Ron Paul I think he is one of the only poli...As for Ron Paul I think he is one of the only politicians anywhere that has any integrity.<<<<<<BR/><BR/>Sorry, Rob, there are plenty of respected economists who have legitimate pessimistic scenarios. Noriel Roubini and Harry Dent are two of several I respect and indeed want to listen to them. In fact, on CSPAN today, Michael Panzner's thinking was as good as any for a doomday scenario. Heck, my posts do indicate things are for sure to get worse. Plus, even worse due to the obstructionists who have shown up en masse.<BR/><BR/>But, Ron Paul is a total nutjob. Heck, a doctor who doesn't even accept evolution. I wouldn't trust the guy to be my doctor, much less anything else which involves science. And, yes, economics is a science, not a hard science, but a social science. Or, for that matter, I just wouldn't trust anyone who doesn't accept evolution for what they say on any serious subject.<BR/><BR/>That said, I do listen to him, because he provides laughs. Sure, once in a while he has some opinions I agree with, but there are others who present them from more solid mental processes.<BR/><BR/>Oh yeah, Ron Paul is a racist. Not a great foundation for rational thought, sorry.<BR/><BR/>....JosephJoseph Oppenheimhttps://www.blogger.com/profile/12622023281542158772noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-59465874250431364552009-03-08T18:13:00.000-07:002009-03-08T18:13:00.000-07:00Jim1929 was indeed different. I suspect a much lar...Jim<BR/><BR/>1929 was indeed different. I suspect a much larger percentage of population knew what was coming and tried to prepare. As for Ron Paul I think he is one of the only politicians anywhere that has any integrity. That said he does not have all the answers to get out of this mess. He shouldn't be ignored as he is now but shouldn't be blindly followed either. On the other hand making a statement that anyone who listens to him is drinking "Kool-Aid" is over the top, so in that respect I'm in agreement with Anon 4:55.<BR/><BR/>RobAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-21833953581220624342009-03-08T15:40:00.000-07:002009-03-08T15:40:00.000-07:00Anon 1:40:00,CAP-LOCK IS CRUISE CONTROL FOR AWESOM...Anon 1:40:00,<BR/><BR/>CAP-LOCK IS CRUISE CONTROL FOR AWESOME!<BR/><BR/>HECK YEAH!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-47721040795229085582009-03-08T14:49:00.000-07:002009-03-08T14:49:00.000-07:00This stock market crash is doing no better than th...This stock market crash is doing no better than the great depression crash. <BR/><BR/>Check out the four-bears comparison chart:<BR/>http://dshort.com/charts/bears/four-bears-large.gif<BR/><BR/>These things take time to develop.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-22580113791603747882009-03-08T13:40:00.000-07:002009-03-08T13:40:00.000-07:00RON PAUL AND A FEW OTHERS IN CONGRESS ARE THE ONLY...RON PAUL AND A FEW OTHERS IN CONGRESS ARE THE ONLY VOICE OF REASON. EVERYONE ELSE IS CORRUPT (BOUGHT AND PAID FOR) OR IGNORANT OF THE BASIC POINTS OF ECONOMICS AND SOCIOLOGY.<BR/><BR/>YOU WATCH... IN THE NOT TOO DISTANT FUTURE PEOPLE WILL RELISTEN TO RON PAUL'S CAMPAIGN SPEECHES AND SAY... "MY GOD, HE PREDICTED EVERYTHING THAT HAS HAPPENED AND HIS SOLUTIONS WERE THE RIGHT SOLUTIONS".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-51811754109434045282009-03-08T13:36:00.000-07:002009-03-08T13:36:00.000-07:00HEY! 12:27's original communication wasn't very ni...HEY! 12:27's original communication wasn't very nice or mannerly. I was just responding to that attack. My opinion is that he and Joseph are part of the problem not the solution. They are programmed. I'm entitled to my opinion too. They've lost the standard of rugged individualism, self-dependence, small government, etc. And as a further response to 12:27, if there was an undiscovered island (country) that I could move to and create a government that paralleled the ideas of Jefferson and our other framers (the people that 12:27 criticizes) and expanded as a republic to meet modern times... I would.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-55838066330951635672009-03-08T13:17:00.000-07:002009-03-08T13:17:00.000-07:00Hi RobThe odd thing is that so many people were pi...Hi Rob<BR/><BR/>The odd thing is that so many people were picking on Ron Paul, I had to make a point of listening to him to see what he was all about.<BR/><BR/>I heard a discussion on one of the business channels the other day that made me wince. The speaker suggested that they limit Rush Limbaugh and some other pro Republican from speaking since it was sending the wrong message to the country in these troubled times.<BR/><BR/>I kind of makes you wonder if we are losing a concept or two here with this "solution" to all of our problems.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-21136608162130307602009-03-08T06:55:00.000-07:002009-03-08T06:55:00.000-07:00Everyone is entitled to their opinions. Even Ron P...Everyone is entitled to their opinions. Even Ron Paul, a rare politician who has principles, would agree to that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-75804284348429435152009-03-07T20:52:00.000-08:002009-03-07T20:52:00.000-08:00Hi Anon 4:55For "slave mentalities," they seem to ...Hi Anon 4:55<BR/><BR/>For "slave mentalities," they seem to communicate very well without insulting anyone. I think if you lay off the airplane glue, you'd make more sense.<BR/><BR/>You can dissagree with someone, but it's rude to attack them for who you think they represent. You are the one that is unamerican by being against freedom to think and express your views.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-65737280725847395302009-03-07T16:55:00.000-08:002009-03-07T16:55:00.000-08:0012:27 and Joseph have been very well programmed. T...12:27 and Joseph have been very well programmed. They have slave mentalities. They can't picture an ideal scene so they are satisfied with the program they are being fed.<BR/>Defeatists. Effete. Just plain UNAMERICAN.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-44438963515961506772009-03-07T04:47:00.000-08:002009-03-07T04:47:00.000-08:00In the US, part of the shortcomings of mutual fund...In the US, part of the shortcomings of mutual funds, is that the people in charge are salaried employees and/or on commission.<<<<<BR/><BR/>It's worse than that, Jim. Someone once asked me to check out the military 401K type of program they have, for them. So, when I called the number, it was just some probably minimum wage gal who recommended just some standard approach probably she just read from her likely ten-page training booklet. She couldn't undrstand at all, I was just interested in the safest, income-oriented vehicle. I told the person I know not to waste his time with the program. I suggested just Roth IRAs with FDIC insured CDs in them. There is a role for stocks, but not in tax-sheltered retirement funds, especially not mutual funds. Stocks have tax advantages all their own, which are wasted in retirement funds.<BR/><BR/>Plus, the average mutual fund underperforms stock averages. No thanks.<BR/><BR/>As for foreign funds being worse, I agree. As bad as US regulation and visibility is, elsewhere is worse. Plus, with all the negatives, at least Americans have a better chance at understanding the nooks and crannies, here. Plus, like I mentioned Pepsi stock before, at least I know what Doritos Chips taste like, etc. Whatever happens, I bet people will still want some of them, especially since they and other Pepsi products are as cheap a thrill as there is. Even for some who want to pay top price, rather than searching out bargains, using coupons, etc, they are still a cheap treat even at full retail price.<BR/><BR/>....JosephJoseph Oppenheimhttps://www.blogger.com/profile/12622023281542158772noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-12708564849465516642009-03-06T21:35:00.000-08:002009-03-06T21:35:00.000-08:00Hi JosephI totally agree. Here is a Link to an ar...Hi Joseph<BR/><BR/>I totally agree. Here is a <A HREF="http://greatdepression2006.blogspot.com/2007/05/mutual-fund-run.html" REL="nofollow">Link</A> to an article, I wrote in May 2007 <BR/><BR/>I'm just pulling a number off of the top of my head, but I wouldn't be surprised if 90 percent of the mutual funds outside of the US go bankrupt before the year ends. They are under no regulation.<BR/><BR/>In the US, part of the shortcomings of mutual funds, is that the people in charge are salaried employees and/or on commission. Its a business and there is no real experience from past bear markets to guide them. Their inexperience could wipe you out.<BR/><BR/>The ones offshore seem to be very suspect.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-86335402697982043162009-03-06T20:46:00.000-08:002009-03-06T20:46:00.000-08:00The investment trusts were buying stock in one ano...The investment trusts were buying stock in one another.<<<<<BR/><BR/>Don't be fooled, Jim, recent mutual funds essentially do the same thing, to varying degrees - creatively masking similarities many times.<BR/><BR/>For one, in a previous stock meltdown after the 1960's boom years, mutual funds commonly used what were called "letter stocks", shares of a company not available to the public, hence illiquid vehicles. I wouldn't be surprised at all if some of this is still going on, maybe even masked to some degree. If not, some other loophole.<BR/><BR/>Plus, many recent mutual funds, capitalizing on the popularity of hedge funds, created mutual funds mimicking hedge funds, using similar techniques.<BR/><BR/>Plus, one reason I don't trust mutual funds, is that I am sure fund families move securities between individual funds for their own purposes, not for the purposes of enhancing customer returns. It is just so obvious they could do it, so to assume they don't is just being naive.<BR/><BR/>Plus, money market mutual funds were exposed to be filled with all these "toxic assets", SIVs, CMOs, etc. That is why the government insured them after one fund "broke the buck", because many would have unwound, and maybe some still are beneath the surface.<BR/><BR/>Plus, it really is sneaky how mutual fund investors can't vote on proxies of the individual stocks in the funds. Sure, it would be too complex to make that possible, but the reality is that it is a setup for the mutual fund managers to vote. That's another reason I want no part of mutual funds.<BR/><BR/>Plus, much more.<BR/><BR/>....JosephJoseph Oppenheimhttps://www.blogger.com/profile/12622023281542158772noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-32228794484783304732009-03-06T19:19:00.000-08:002009-03-06T19:19:00.000-08:00Hi JosephI see you must have missed an earlier pos...Hi Joseph<BR/><BR/>I see you must have missed an earlier post of mine here is a <A HREF="http://greatdepression2006.blogspot.com/2008/11/great-picnic-of-1929.html" REL="nofollow">Link</A>. Mutual funds have been around since 1820.<BR/><BR/>It's probably a misnomer to label the Mutual funds of the 1920's, Investment Trusts. Investment Trust were more like a hedge fund today.<BR/><BR/>The open end mutual funds and investment trusts in the 1920's had about 7 billion in them, whereas the stock market of the time had about 89 billion in it.<BR/><BR/>The investment trusts were buying stock in one another. <BR/><BR/>An investment trust would start up with an offering of say 10 million in bonds and 10 million in stock, with only 25 percent of the stock sold to the public. They would take the 10 million and buy stocks traded in the market. Then the same people would start a new company that would do the same thing over again. 10 million in bonds and 10 million in stocks. This time though, they buy 3/4's of the stock in the first company paying for it with the bond money raise. Two small investment trust could be controlled by one bigger investment trust. And two of those could be owned by one even bigger one. A one dollar rise in the price of the stock bought at the bottom of this chain could easily return 50 times the original investment at the top.<BR/><BR/>The whole thing fell apart when stocks stopped rising. The trusts couldn't make the interest payments on the bonds they sold to finance the endeavor.<BR/><BR/>My link in that November 11th article is to a Time magazine piece written 1936.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.com