Great Depression?

[IfHilaryWinsImMovingToCan]

I would copy/paste this, but frankly, it's so long I don't care to.

Forgive me, ryr, if this is a forbidden act. If it is, correct me and I'll fix.

This is a link to a thread on a military forum where some guy discusses our current economical state and the reason why we are headed for a Great Depression in the next couple years that will make the Depression of the 20's/30's look like nothing. Interesting read, and I'd love for some of you that are smarter than I on economics to read it and provide some input. It definitely makes one think, and a lot of what he said I have heard in other contexts. I think there's a lot of very valid points, but at the same time he seems to be a doomsdayer and I question the truth of some of his "facts".

Either way, it's interesting to say the least. I guess my biggest concern/question would be this: If such a depression were to occur, and banks go bankrupt and such, would the money I have in certain savings/investments all of a sudden become obsolete and unattainable by myself? In other words, if I have $5000 in my bank's money market shares account (a fancy name for a CD), and this type of collapse occurs, would I be unable to withdraw my funds?

http://www.militarytimes.com/forum/showthread.php?t=1559499

[LSU]

Enoch is Babylonian for "Jiddy"


As for your bank question, my assumption would be that if the bank is insured, your money would be as well, as long as it's tied up with the bank...now if it's in mutual funds or whatever else, kiss that shiz goodbye.

[IfHilaryWinsImMovingToCan]

Enoch is Babylonian for "Jiddy"


As for your bank question, my assumption would be that if the bank is insured, your money would be as well, as long as it's tied up with the bank...now if it's in mutual funds or whatever else, kiss that shiz goodbye.
Ok, but in the event of this alleged "great collapse", I'd imagine there's going to be a mass exodus to the banks where people withdraw every penny they have. If the bank is bankrupt (ironic), and all of this money has to come from the insurers, will there be enough?

Weird questions, and I'm no doubt wearing my ignorance on my sleeve, but I need to know if I should be burying my life savings in my grandma's backyard.

[LSU]

Ok, but in the event of this alleged "great collapse", I'd imagine there's going to be a mass exodus to the banks where people withdraw every penny they have. If the bank is bankrupt (ironic), and all of this money has to come from the insurers, will there be enough?

Weird questions, and I'm no doubt wearing my ignorance on my sleeve, but I need to know if I should be burying my life savings in my grandma's backyard.



Jiddy will have a field day here.


I don't know how all that would work.

[Jiddy78]

Enoch is Babylonian for "Jiddy"


As for your bank question, my assumption would be that if the bank is insured, your money would be as well, as long as it's tied up with the bank...now if it's in mutual funds or whatever else, kiss that shiz goodbye.

I don't know about that...This guy is insinuating that the "top" will vaporize a major city...

No...Just like our prior "great depression," if major deflation does come into play, which is extremely probable given the scope and potential magnitude of this inflationary run, the rich will fold...just like last time they will eventually bend...but the pain in the meantime will be impressively destructive....just like last time....

I mean, come on, depending on assets instead of real production year...after year...after year...after year....That doesn't seem like a pipe dream?

Lastly, I find it highly comical that this guy is preaching his palabra on a military website, the same military that will ensure that there will be no deflationary nor inflationary collapse....That's high quality irony.

We should get that guy to post here, though. :p

[Jiddy78]

Ok, but in the event of this alleged "great collapse", I'd imagine there's going to be a mass exodus to the banks where people withdraw every penny they have. If the bank is bankrupt (ironic), and all of this money has to come from the insurers, will there be enough?

Weird questions, and I'm no doubt wearing my ignorance on my sleeve, but I need to know if I should be burying my life savings in my grandma's backyard.

Imagine a gigantic line in front of any government agency...Those f*cks can't handle a handful of driver's licenses with any kind of efficiency...Millions of people filing FDIC claims?!? LMFAO...Good luck getting that money before you're 6 feet under....Those that do will literally have that "We just won the lottery look"....Moments before all their neighbors that didn't win said "lottery" rob their ass at gunpoint. :p