We’re Already in a Depression

[Martin Hash]

Since I’ve adopted the attitude that money is imaginary and can be produced as needed, I no longer include financial metrics in my definition of depression.

[TheReal_ND]

A Depression doesn't kick in until it enters a deflationary wage and price spiral

When the policy stimulus can no longer kick start it, even with negative interests

Mass immigration is deflationary for labor. I can tell you for a fact that the immigration has been massive over the past couple decades. And by massive, I mean destabilizingly so.

[Smitty-48]

Since I’ve adopted the attitude that money is imaginary and can be produced as needed, I no longer include financial metrics in my definition of depression.

It's not so much the metrics but the dynamic, what the actual break point is, I can't say, but a depression is when the monetary policy has put you into a spiral, and even though you are pulling back hard on the stick and going full throttle policy wise, that's not working and wages and prices continue spiral down in a collapse of confidence,

So it is imaginary, collective psyche, amimal spirits, when capital imagines that the government is out of control, so it flees to the sidelines completely, otherwise known as a strike of capital.

The Great Depression for example kicked off with the 1929 crash, but it was actually Holly Smoot which caused it to keep spiraling down, in a strike of capital.

[StCapps]

Since I’ve adopted the attitude that money is imaginary and can be produced as needed, I no longer include financial metrics in my definition of depression.

It's not so much the metrics but the dynamic, what the actual break point is, I can't say, but a depression is when the monetary policy has put you into a spiral, and even though you are pulling back hard on the stick and going full throttle policy wise, that's not working and wages and prices continue spiral down in a collapse of confidence,

So it is imaginary, collective psyche, amimal spirits, when capital imagines that the government is out of control, so it flees to the sidelines completely, otherwise known as a strike of capital.

The Great Depression for example kicked off with the 1929 crash, but it was actually Holly Smoot which caused it to keep spiraling down, in a strike of capital.

The myth of the Great Depression is that it was caused by a market failure, but if you actually look at the timeline, things didn't spiral down until the government started stepping all heavy handed like, the economy was actually recovering before they stepped in, it was a government failure. Smoot-Hawley and The New Deal double tap.

Thomas Sowell Knows.

[StCapps]

Milton Friedman Also Knows.

[Smitty-48]

Since I’ve adopted the attitude that money is imaginary and can be produced as needed, I no longer include financial metrics in my definition of depression.

It's not so much the metrics but the dynamic, what the actual break point is, I can't say, but a depression is when the monetary policy has put you into a spiral, and even though you are pulling back hard on the stick and going full throttle policy wise, that's not working and wages and prices continue spiral down in a collapse of confidence,

So it is imaginary, collective psyche, amimal spirits, when capital imagines that the government is out of control, so it flees to the sidelines completely, otherwise known as a strike of capital.

The Great Depression for example kicked off with the 1929 crash, but it was actually Holly Smoot which caused it to keep spiraling down, in a strike of capital.

The myth of the Great Depression is that it was caused by a market failure, but if you actually look at the timeline, things didn't spiral down until the government started stepping all heavy handed like, the economy was actually recovering before they stepped in, it was a government failure. Smoot-Hawley and The New Deal double tap.

Thomas Sowell Knows.

Indeed, first the Republicans laid the foundation of government ineptitude with Hawley-Smoot, then the Democrats come along and double down with even more deflationary intervention, Blam, blam.

The thing that makes a Depression so plausible in this time frame is that the situation is similar. Both Hawley-Smoot and the New Deal are reactionary to the Industrial Age revolution sweeping across the old world American agrarian economy, and now we have the Industrial Age being swept up by the Information Age revolution.

The entrenched interests of the buggy whips demand government intervention to stave off the future, the government complies with the demands of those interests entrenched within it, inciting very bad ideas to be enacted into policy, wherein misadventure ensues, and then spirals out of the governments control.

Depressions also take on different shapes, the Great Depression before the Great Depression is now called the Long Depression, because it was supplanted in greatness by the next depression, the Long Depression now getting its name from the fact that is wasn't as great as its successor, but it lasted much longer.

[Martin Hash]

I’m trying to get you out of the mindset that a “depression” is defined by economics. If you are in the 0.01%, a depression affects nothing but the rate you accumulate cash, but for most, it’s 37% of elegible workers unemployed, underemployment, hand-to-mouth existence, huge debt obligations, and a fractured social structure.

[pineapplemike]

what are the stats on how much cash on hand that americans have saved? i dont know specifically but something like half the country doesn't have even $500 saved for an emergency

that's a significant indicator of the health of an economy in my opinion, but idk

[Speaker to Animals]

Would be better to just colonize the Moon. The cost of WW2 in current dollars is probably north of 6 trillion. Add to that the New Deal shit that never really did that much aside from producing works of art and literature like Grapes of Wrath. Most likely, the federal government spent on the order of 10-12 trillion dollars in current dollars to get us out of the Great Depression.

I could build a space colony with that. It doesn't matter how you spend it, really. Might as well spend it on shit that pays dividends, though..

Add to that asteroid mining so you can dump the metals onto your lunar colony, refine them, and use that to build ships outside the bottom of Earth's gravity well. Imagine building everything with gold, aluminum, and chrome because it's cheaper than plastic. LOL

[StCapps]

Would be better to just colonize the Moon. The cost of WW2 in current dollars is probably north of 6 trillion. Add to that the New Deal shit that never really did that much aside from producing works of art and literature like Grapes of Wrath. Most likely, the federal government spent on the order of 10-12 trillion dollars in current dollars to get us out of the Great Depression.

I could build a space colony with that. It doesn't matter how you spend it, really. Might as well spend it on shit that pays dividends, though..

Add to that asteroid mining so you can dump the metals onto your lunar colony, refine them, and use that to build ships outside the bottom of Earth's gravity well. Imagine building everything with gold, aluminum, and chrome because it's cheaper than plastic. LOL