Superfunkomatic - Observations of the Socially Inept

i’m not a financial analyst, nor am i able to predict the future, but i’m quite aware of history of the depression and 20th century cycles of monetary fluctuation.

last few months, money supply shrinking in the US - less loans, increasing loan rates and prime rates, huge number of defaults on high risk mortgages and personal loans/credit, increasing inflation.

yesterday as story out of the UK. rumours of banks ability to remain solvent cause panic withdrawal of entire bank accounts to the tune of 1 billion pounds in just a few days.

these early news items sound eerily familiar to the depression of the 1930s. i can only hope i’m wrong and that these are isolated incidents. one has to wonder what that type of depression would do with people having the highest personal debt loads in history, huge credit debt and large investments in fixed assets such as vehicles and houses. i’d guess that if we were to experience 1930s conditions again the depression would be on a scale that would dwarf the Great Depression.

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