If the current economic situation alarms you, then you are reading the right article!
Are you ready for the Great Depression of 2008, 2009 & 2010?
You probably already know about the turbulent capital markets, frantic government regulators, worried consumers, and the astronomical levels of uncertainty — all of which are alarming echoes of the economic disaster we had in the U.S. during the 1930′s.
Which raises the inevitable question: Could the next Great Depression be barreling towards us? Would you know how to survive the next Great Depression if it were?
More and more financial experts are saying it—the economic situation is very similar to what it was going into the Great Depression in 1929.
Master hedge-fund manager George Soros said that the current financial crisis is the worst since the Great Depression, and said stocks have not bottomed yet.
Bill Gross, the Chief Investment Officer of PIMCO (the largest bond fund in the world) has said, “We haven’t faced a downturn like this since the Depression.”
If these geniuses of the market are comparing these times to the times before the Great Depression, we’d better listen..
They know the signs of the Great Depression of 2008, 2009 & 2010 when they see them.
More and more Americans are beginning to feel the pinch. Record home foreclosures, escalating unemployment, and price hikes are hitting them in the gut, creating a record number of people who are in need of food stamps just to survive day to day. The U.S. Congressional Budget Office stated that 28 million people will need food stamp assistance, the highest level since the food assistance program was introduced in the 1960s.
The Great Depression of 2008, 2009 & 2010 is upon us. Don’t be one of those who is caught unprepared. Learn how to prepare for the next Great Depression.
Need more convincing?
U.S. housing prices are declining at an annual rate of nearly 4% — an event not seen since the Great Depression— and the downward trend is accelerating. Over the past half century, every U.S. housing downturn as sharp as the current one has translated into a U.S. recession.
In fact, Reuters recently reported that policy experts have stated that “events surrounding the U.S. housing crash in many ways resemble the Great Depression, including strings of failed bailout plans and a reliance on voluntary compliance.”
Finally, as in the Great Depression, the financial system is in disarray. It was symbolized back then by the failure of thousands of banks, mostly small, local outfits. There were 2,300 bank failures in 1931 alone.The parallel today is the crumbling of one-time economic Goliaths, such as Bear Stearns, Countrywide Financial, and Ameriquest Mortgage.
The crisis is so severe, that right after its unprecedented bailout of Bear Stearns, the Federal Reserve opened its doors to the surviving investment banks so that they could borrow directly from them—which is something they haven’t allowed since the Great Depression.
The Federal Reserve knows something that they aren’t telling you. The economic depression in the United States is right around the corner. Don’t be caught unprepared.
Learn how to prepare for the next Great Depression now.
