socrateazz

Loan Delinquency Data Suggest We're Nowhere Near a Great Depression II

This is interesting in that you are comparing 1933 data with the current situation. A better comparison would be 1929 and early 1930 data. I think we are in that stage right now. I see the problem as more of a wealth distribution problem than any thing else. Too much wealth outside of the country and in the hands of a few wealthy folk. 1980 was also a wealth distribution problem with too much wealth in the hands of those who wanted to spend it. When one has excess demand, wealth needs to be moved from the hands who spend it to the hands of those who will save it. When supply is in excess of demand, then an increase in demand is in order. Move wealth from those who have it to those who will spend it! Would have been better to fix the problem ten years ago. Less drastic measures would have needed to be made. If problems had been addressed in 1920 instead of 1930 a depression may not have happened. There is no urgency to fix that which seems to be working.
Look around the worlds nations. Which countries have the most middle class? Rank them by how rich they are. Do you notice those countries with the largest percentage of middle class are the wealthiest. Note that the poorest have most of their wealth in the hands of a few. The palestinians are poor. But how many palestinians are worth over a billion dollars? You would be surprised if you could find out. The greed of those controling the wealth does not allow the wealth to go where it is needed.