7 Main Differences between the Great Depression and what will be an even Greater Depression
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There are 7 main differences between the Great Depression and what I
think will be an even Greater Depression coming. Those differences are
both economic and social as well as global. I'm going to make this as
short and sweet as possible. I don't believe in bullsh*t. So here it goes.
They are:
- We don't make anything anymore and we are competing with "slave" labor in other countries.
- We are completely in debt both individually and nationally and the size of government is out of control.
- The Baby Boomers are a comin!
- We're already in 2 wars.
- We don't have intact families.
- We aren't related to the land any longer and we are dependent upon the government.
- We have no moral compass and the prison population is the largest in the world.
1. Let's take the first item. We don't make ANYTHING anymore. When
is the last time you saw "Made in the U.S.A." on anything? I can't
remember when I turned an item over and saw that, that's how long it's
been. We used to make everything, we used to make cars..now the cars
sit in lots with no buyers and the corporate executives come every few
months with their hands out so that they can make their million dollar
mortgages. We used to make gidgets
and widgets and plates and toys and T.V's and furniture, now what do we
make? I think we still make chocolate but I just recently heard that
the York Peppermint Patty factory recently closed it's doors and moved
south in order to have cheap labor.
This is the most important item in the list because if we don't make
anything, we can't employ anyone to make anything and therefore we
can't tax anyone not making anything...get it! It kind of brings
everything to a standstill.
2. The second item, debt, is the second
most important thing. During the Great Depression, no one was in debt
including the government. Now all of our tax money just goes to pay
the interest on the national debt. In the Great Depression we didn't have the Housing Crises, or the Credit (card) Crisis. As citizens we can't get a grip
because the pole has been waxed with oil from debt. It's difficult to
start a business if you are bankrupt and it's difficult to even make
ends meet when taxes take such a big bite out of everyone's
paycheck and grocery bill (You don't think that taxes are just in your
paycheck do you?). The government is simply printing money out of thin
air, when that happens inflation is speeding down the highway and will
come sooner than you can say $10 milk! No one has any cash saved and
even if you do when inflation hits it's going to take all of your
cash. We didn't have this problem in the Great Depression because no
one was in debt (generally speaking).
3. The Baby Boomers are a comin! Yes, they are and when they start "in masse" drawing on that social security ponzi
scheme we've all been paying into and using up the medicaid resources
it will be a hit like you've never seen before. There IS NO MONEY
people! Not only will they want their money but they will also be
taking out their 401k's and savings out of the system, out of a system
that already doesn't have enough money. This was also NOT a problem in
the so called Great Depression.
4. During the Great Depression WWII helped to get us out of the Great
Depression because it provided jobs, now we are in 2 wars, the problem
here is that the amount of jobs created is not sufficient to bring us
out of this tsunami. Maybe we should have WWIII, maybe that would do it! I'm being facetious in case you didn't get it.
5. The other reason this downturn is going to be worse than the Great
Depression is that we no longer have intact families. During the Great
Depression, people helped each other, people went back home and
families assisted each other. And in that family there might be 5 or 6 siblings, if one got a job he or she contributed to the family. Today we are lucky to have one family
that is intact with maybe 1 or 2 siblings, let alone extended families. Moreover, there are a lot
of people who are single and without anyone to go to should they get
into trouble. What will these people do? Where will they go when they
are at the end of their rope?
6. During the Great Depression 25% of Americans lived on farms, today
that figure is less than 2%. Not only did they live on farms but a lot
of people had victory gardens and chickens and knew how to survive
without electricity, today that number would be next to nothing. We
are very dependent today on technology and the government back then we
weren't. Should another Great Depression hit us now, we will be much
less able to take the hit then we were back then.
7. Finally, we have lost our moral compass. We have the highest
incarceration rate in the world, one in 99 people in the U.S. is in
prison at a cost of over 49 billion a year. This was not the case
during the Great Depression. When people have their backs against the
wall, with no moral compass, violence will be the norm.
I wish I could provide some good news and if you know of any in regards
to this topic please feel free to share it with me. Finally, I hope
that I am wrong but I think the facts speak for themselves. Good luck
and God Bless us all.
Buy Foriegn Currencies
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Comments
Yes, I agree
crikey, you are in a cheerful mood!I hope you are wrong, I fear you may not be.
Yea, funny thing is I am cheerful anyway, because why not? It doesn't help to be sad, BUT that doesn't mean that I am blind to what is going on either.
Very good points. It's been bad already for many people, and it's going to get worse before it gets any better. I agree with Vladimir. We need revival.
Too bad government can't legislate spiritual awakening (ie, make it happen). I have felt this way for many years.
There may be another factor making the coming crisis worse than the one 80 years ago: Now there's widespread utter dependence upon high technology (which we take for granted, smugly - electric grid, internet, TV, cell phones, etc). If it crashes, from sabatoge or natural disaster or whatever, there could be a lot of helplessness & confusion & paralysis. Just a cheery thought to brighten your day, ha ha.
Yes, I eluded to that in item #6. It's a scary time.
Enjoyed your straight forward post. You've got it all correct as far as I'm concerned. I don't know which of your points is most alarming. Personally, I wish I lived on a farm right now and not in the city. Great Hub.
The farm thing is something I think about everyday.
A friend of mine recently gave me a button that simply says "to have more, desire less". we have been lving in a consumerist society for a very long time. it may very well be that we'll al be forced to. there is a lot of gloom and doom about the future, all of the what ifs about wide spread blackouts and even anarchy sweeping across this country. time are certainly tough.
You kow, if a person gets in an accident and finds themselves suddenly paralyzed, that person cannot focus on what they cannot do for very long. In order to recover, they must focus on what they can. If they don't, they'll die. while it is true that we don't built much in this country, there are things that we can do. we must focus on that.
many years ago, there was an airliner that crashed, oklahoma I think it was. the airliner with 150 or passengers suffered nearly complete loss of control. the only thing that the pilot had control over was the throttle on one engine. these pilots are trained, they have it drilled into them inflight simulators to keep flying the plane no matter how many malfunctions they encounter. that is what this pilot did. he kept flying the damned plane even though all he had was the throttle on one engine, he brought the plane down and saved a lot of lives.
it is true that things are pretty broken right now, but we've got to keep flying the damned plane
there are people that build things, people who work in cottage industry all over this country. I am one of those. I and many others like me are constantly looking for new things to do, new ways to make money, new innovative ways to save money.
in the great depression, the biggest cause of loss, the biggest factor that kept it going was fear. Had that pilot in the oklahoma airline crash succumbed to his fear, he would have stopped flying the plane and everyone would have died. I and others like me who build things could succumb to the fear, hide in the basement with a shotgun and a few hundred pounds of rice and wait for the end. believe me, if we did that, the end wouldn't be far of.
it was said in the great depression, it was true then, It is a pretty safe bet that it is true now, the only thing we have to fear, is fear itself.
Hello Brie.
Thanks for valuable info.
I talk about bad things often, but I do not fear. I must live what I preach and preach what I live. This is only way to go.
Because I went through socialism I want to inform. But we did not listen and got what we were ignorants of.
God will take care of believers.
I agree, do not fear him who can kill the body, but fear Him who can send both body and soul to hell.
awesome information
I do not want to play devils advocate but I believe we all have our place in the world. For example, my birthday is on my license that is reality in theory my birthday has been in the making for years, decades, before Jesus Christ when our first ancestors arrived. With that being said everyone is like that the world is like that. I did not choose to be born I was part of the process.
Again the world, in theory when you look outside is a man built world. We built roads, business, law and police structure. In theory we had to. Without communication we would still be cavemen. Mothernature we can not control, whether or not we are in depression we have to think positive and work together.
As for the farms in the great depression, lets be honest people could not surf the web and go on airplanes to visit theiur friends. We were building america. California still makes up 70 percent of the agriculture grown. America now adays also preaches the importance of school and education. If we pay more attention to our mentors maybe we can turn people who want to be farmers into enviromenatlists or engineers.
Rather than critize the problems we are all experiencing and re stating the facts we need to concentrate on what to do to rebuild america. Thanks to the news, reminding us of what bad living conditions we are in, the last thing we need is more scared people giving their two cents about last nights news and upsetting people much more then they need, and concentarte on how we can help. Remember out of the great depression came fdic, social security, and the start up of banks all which we use today.
I don't think I am scaring people as much as alerting them. I hope that I am wrong but I don't see how we can avoid some of the things mentioned (like the Social Security problem). I think that having accurate knowledge will help people prepare. I don't think it's ever prudent to put your head in the sand.
I agree. It is unjust world. But looking on bright side, I believe that in-spite of troubles, Lord is in charge. But only if we are under His shield. I believe in rapture. I went through socialistic hell, and He help me to come to new land :).
But please keep hubbing. You are bringing good info.
Thanks Vladimir
Sorry Brie, but I disagree. First, luckily it no longer appears that we are headed towards a depression period, let alone one worse than the GREAT depression. Second, many of your points aren't substantiated by fact (for example, double check your source that "during the Great Depression, no one was in debt including the government"). Instead, everything appears based on anecdotal evidence or misconception/misunderstanding of our economy.
Take the myth that "We don't make anything anymore and we are competing with "slave" labor in other countries."
We have the largest economy in the world, and among the highest GDP per capita anywhere. We manufacture more today than at anytime in our nation's history, it just happens to be a shrinking part of our overall economy - which isn't necessarily a bad thing. For example, it allows for a more diversified and resilient economy. As bad as things are here at the moment, they are deteriorating much more quickly in places like Germany where manufacturing still plays a bigger role.
I frankly question every point you make, at least as it relates to us somehow being worse off during another great depression. So what if we can't grow our own vegetables anymore? Do you really think our economy is going to collapse to the point we all move back onto farms? Agriculture has shrunk from more than 40% of GDP in the early 1900's to less than 2% today, yet we produce WAY more food than we can possibly consume. That is technology and productivity for you.
Things are bad, and may get worse before they get better, but I think no matter what, we'll be much better off than we were during the Great Depression.
I would like to know your sources. Mine are here:http://www.nakedcapitalism.com/2009/04/world-econo and also the film IOUSA as well as a few others that I would have to look up. Yours are?
Also, the comment about there being no debt in during The Great Depression was overstated I should have said much much less.
Well, there are too many issues to cover on this particular topic. As there are a few more variable that can factor into the outcome of this recession. As the author stated that they are realistic points, but the end result can appear more depressing and frightful.
In general, most people are followers, a few are leaders. If chicken little says the sky is falling, people will run for cover. If the leader states in order for us as Americans wishes to better the economy. Then go out, live a little, spend a little, allow the money to circulate. If all you are doing is retaining it in the bank, collecting a mere lousy 1/2 percent in savings, 2% if you're lucky in a CD.
Only the banks win. In addition, due to all the housing lending catastrophe, they are reluctant to loan YOUR money out to others. Only if your credit is impeccable, and comparable to God. Another word, the banking industry is not doing their part in recirculating the economy to assist in rebuilding the economy. One does not have to be an economist to figure this, just apply a little common sense.
Times are tough for everyone, as a small businessman, on my 5th year, I did better in my first three years than the last two. I saw this French movie while back, the 70's when I was a kid (showing my age). I can only remember the ending part. It was about the French Indo-China with their Vietnamese counterpart. The Captain is navigating his cruiser out of the Mekong Delta.
His first officer looks at the Captain and says " Je crois que on perdu cet guerre" ( I think we lost this war). The Captain replies, "evidament, toute est perdu sans espere" ( evidently, all is lost without hope).
Keep up your spirit and your hope.
In spite of everything I am optimistic personally. I think that there are ways to navigate through the mine field, but saying everything will be fine does not help (not that you said that). I believe in looking at the facts and finding the truth and then making decisions based on that. Good luck to you.
Brie, You sound exactly like what the problem truly is in America today--- typical whining, uneducated, misinformed lazy people whom have nothing better to do that offer a misinformed opinion (on system created by the governement you condemn)
1. A stupidily simple google search ( an american product) reveals this webpage http://www.stillmadeinusa.com/
2a The US government has not been debt free since 1830. It is a well known fact and If you knew your countries history you would know this.
2b. The size of governement manages 360+ million people presently, and numerous agencies to effectively manage these denizens. For and example of them please refer to:
http://en.wikipedia.org/wiki/List_of_United_States
3. Yes, this is a suprise to you? What else was there to do in 1946?
4. Two Wars? Again, you don't understand your statement. Wars in what regard? Monetarily? Personnel? Technology? Land gain? Resource gain? Intelligence gain? If you open you narrow cross hairs --you can see we have been at war everyday for the last 200 years. The only difference is that the body count is at times lower. But this knowledge would only be useful if you knew what federal agencies there were and why they are chartered.
5. Here again you don't know history. During the great depression, people did not have automobiles and plane travel was not abundent, didnt have phones ( or one per ten people), didnt have computers, didnt have means to keep food cold or preserve it, didnt have health care, etc.... Furthermore, the great depression only affected 15% of the US population. Keep in mind - 25% of the work force IS 15% of the population (even today) This includes people who are old enough to work and are below retirement age. There was 1/3 the population in 1929-1940 that there is today. There also was TB, Pnumonia, Polio and other health factors that create the "lore" of the "great depression". Another factor that was around then that isn't around now is the cause of the "dust bowl". So as a the populous evolves so does the soicety. You should travel to Utah, or visit a Catholic family- the ideals of many members in a family are still alive and well.
6. This is just evolution of a society. I am sure you would be complaining if you no longer could walk your horse on the street because of automobiles.
7. Correction -: You have no moral compass. Look at the opinons you have given and the conclusion that you have drawn and unfortunately have found support - Meanwhile, most of your conclusions are not US history. Even your statement is just lip service, "I believe in looking at the facts and finding the truth and then making decisions based on that. " If this was truly your mantra, you would have done a better job instead of providing such easy opinions to shoot holes through.
My sources?
Google. College History classes, History Books, paying attention to detail
Sad, but very true. We have to produce things, not broker them...
Nice piece, Brie. Seems like your most vehemently offended were those that barely could compose a sentence without a misspell or paragraph without a coherent thought. One factor that you omitted was the educational system in this country no longer being competitive with the rest of the planet. I believe we now rank #24-28 in the world. There are more honor students in India alone than there are total students in this country. Eventually comfort, resting on your laurels, isolation and the chest beating "we're #1" mantra will catch up to you.
Thanks HalC3, I have written (on one of my other hubs) about the school system. I used to be a teacher so I am well aware of the problems. Here is the link: http://hubpages.com/hub/What-is-Wrong-with-America
You are right about it all, but we must have wanted to be where we are at or we wouldn't be here. I'm a firm believer in "choice" - obviously we've all played into the three blind mice game - we turned our eyes away from it all - we got sucked into fancy cars, movies, games, music, media - we made our focus "entertainment" and "luxury" - we chose something that isn't sustainable living.
The house of cards was built on sand and not only has it collapsed and taken us with it, I'm not too certain there is a way out.
I agree LessthanZero, however one should always live their life with hope because to completely give up does no good either.
Do you think that this economic downturn will be worse than the Great Depression?
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Vladimir Uhri says:
10 months ago
Brie. Thanks for true and informative thoughts. Only answer is to return to God, I mean entire nation.