Why This Depression Will Be Known As The Greatest Depression
Sep 30 2012
Probably the last thing regular readers of this website need is additional evidence supporting the coming governmental and economic collapse. I apologize for yet another article on this topic, but newer readers need to understand what is coming and do what they can to protect themselves.
Government default is inevitable and with it another Depression. The Depression will be more painful than the so-called Great Depression which occurred seven decades ago. There are several reasons why. The primary one is our interdependence upon one another. In a functional economy, the division of labor is a good thing. This specialization and trade with each other has made our lives easier and wealthier than they otherwise would have been.
When an economy becomes dysfunctional, everything changes. Trade declines, or in the case of an economic collapse, virtually ceases entirely. The interdependence and specialization which contributed to our high standard of living ceases now become liabilities.
Trade as used above refers to all types of trade. It obviously refers to international trade but goes beyond the clothing and electronics from Asia. Domestic trade will
Seventy plus years ago, we were less well-off but also less dependent on markets to provide our goods and services. We were more self-sufficient. A greater portion of the population was rural and agrarian. They raised their own food, made their own clothes, knew how to repair things, etc. Today we are dependent upon functioning markets to provide our range of needs.