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  • 2009 Depression Will Be Nothing Like 1929 [View article]
    seldon wrote:

    "> in 1929 the US was the biggest creditor in the world.
    Today he US is the biggest debtor.

    > in 1929, the depression was deflationary. However this depression will be inflationary, but will not keep up with inflation and the dollar will lose whatever is left of their purchasing power."

    I agree with the above. However, we may expect to see differences between the "old" Great Depression and the coming one: the "new" will bring a civil unrest.

    PS
    It appears to me that the coming events will be somewhat similar to the events that took place in Russia 20 years ago:
    - A very substantial decline in US overal standards of living
    - Democratic institutions will be the primary victims
    - Looting of America will be on a grand scale with runaway corruption
    Mar 07 12:18 pm |Rating: +2 -3 |Link to Comment
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