The Greatest Starvation Begins Now
October 11, 2011
I think this current Depression should be called the Greatest Starvation and not the Second Great Depression.
The Panic of 1873 was also called The Great Contraction in America and the Longest Depression in England because the people had to to wait 23 years until 1896 for recovery. The Great Depression forced us to go back and rename the Great Contraction. True it did last longer than the Great Depression of 1929-1939, but it was much less severe. The Russian demographer Borisov has proven that at least 3 million Americans and possibly as many as 7 million died from starvation in those ten years.
A Little Then And Now History: The New York stock market reached a high on September 3, 1929 and went into a decline culminating in Black Thursday on October 24th and Black Tuesday on October 29th. But there were several key events after 1929 before the full severity of the Great Depression savaged the world. There was the collapse the Rothschild owned Credit Anstalt bank in Austria on May 11, 1931 and the Bank of England devaluing the pound on September 21, 1931. That put an end to international trade and liquidity. And that was when the Great Starvation phase of the Great Depression really began.