Reply #3: I'm not an economics expert, so maybe you can answer a question... [View All]

[Phillycat]

With the Fed taking on all this unstable debt that it was not designed to do, I mean seriously, doesn't it seem like we could have the kind of Depression-era results where the banks go under, people lose their life's savings, and we have food lines and tent cities? I am not a tin-foil hat person and I don't generally make dire predictions, but this seems really, REALLY bad.

And what you're talking about, gaming the world economy, is already happened. See the news from Britain today? Their largest bank is going to STOP OFFERING MORTGAGES. That's right, just STOP OFFERING THEM ALTOGETHER. Which means good credit risks won't be able to get credit either...which is like the whole definition of the beginning of a Depression, right? I don't know very much about economics as I said, so feel free to set me straight if I have that wrong.

The same thing is happening in France, by the way. And the dollar's at an all-time low, and crude is insane...airlines are grounding plane after plane because they can't afford fuel costs...I just...this seems BAD.