more doom and gloom

By basd on Feb 3, 2009 88 views | In predators vs. victims

It would be nice if we collectively discover the tools of financial survival for the non-wealthy in a really big hurry.

...

In the meantime, more posts that tell us precisely why we should be thinking about this:

Naked Capitalism writes about the "bad assets program": "Dear God, let's just kiss the US economy goodbye. It may take a few years before the loyalists and permabulls throw in the towel, but the handwriting is on the wall."

(Find it here.)

And historian Scott Reynolds Nelson writes about "The Real Great Depression" here (although the link may be temporary).

Reynolds makes a good case that the educational paradigm of earlier depressions should not be the one that began in 1929, but the one in 1873. The result of which was, John D. Rockefeller ended up owning just about everything. The "Gilded Age" followed the 1873 depression, and during that period, the average American lived on $300 per year. While at the upper echelons of the Oligarchy, it was party hardy 24/7.

Are we having fun yet?

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Some alternate monetary models:

1815 Guernsey

late 1930s Germany (yes, that Germany.)