So I hear on how we are in Great Depression 2, or that the stock market is on sugar, and whatever else. So I guess when I saw the following writing my interest was piqued.
The Great Depression and Panic will come before the Obama administration goes out of office in 2012. Panic and depression have always followed war. The Iraq and Afghanistan war cost the United States more money that any war in the history. Our government debt is almost as great of all the balance of the world put together. With this burden of debt and government expense, how can a panic and depression be prevented? Wars have creating nothing, added nothing to the value of any country. The United States has been the greatest spender and the greatest waster, and the taxpayers will be the greatest loosers. I believe the Bible when it says that you shall reap just what you sow.
It will be too late to do anything anything after the crash comes. Taxpayers have it in their power to stop this expense if they will organize and do something about it before it is too late. If Obama spending and giving continues as it is at the present time, it will be a matter of short time before the government will begin to confiscate property and everything else. Then the sons of liberty will market to fight for liberty that they have lost in fighting wars before.
So what do you think? Are we in this bad shape? Will the government overstep their boundary?
Makes you think?
Oh wait before I get too sentimental, the letter was written in July 18, 1949 by a famous W.D.Gann (45 years in Wall Street).
This letter was the prediction of a complete collapse of the stock in the years 1949 to 1953. BTW I did two switch-a-roo’s, and switched Obama for New Deal, the wars he was talking about was World War II. And this prediction was completely wrong, as there was no great panic. The S&P market went up, albeit it slowly, but it went up.
The best part of his prediction is that had you followed it, you would have completely missed on the upside. The market has never pulled back since those days to those levels. Sound familiar? You know all of those people saying, “oh wait until there is a really good pullback and then buy.”
My point here is that this panic and this assuredness of how bad things are were in fact written many times before. And the problem here is not the current times, but the fact certain parts of society has literally lost their head!
I also completely dislike the constant reference to 1929 because similar situations were 1825 and 1847. Statistics are not made from a single data point. They are made from multiple data points.
Does this mean we will not have pullbacks? Maybe we will, no doubt about that. But will the economy collapse? I think we have seen the worst…