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[bob ford <bobford79 AT yahoo.com>]

Actually, when I first posted about this issue, that's what I was asking .  I 
see hyper-inflation in the near future and no way for that to be stopped.  
Most people, including people I listen to on this list like Gene , seem to 
say 'it will work itself out'  (paraphrase).  I hope that's right.  I just 
don't see how we get past the hyper-inflation.  

That's why I'm worried that at least the economic part of what you are saying 
might be correct.  The big difference between  us and Wiemar Germany or even 
depression-era USA is that we are now the world's largest superpower.  If we 
wish, we can take what we want from anyone.    But, most people are going 
about their lives like their is nothing about which to worry.  Perhaps people 
like you and I are paranoid.  

Thanks for posting your opinion, though I hope you are wrong........bobford





----- Original Message ----
From: william Eggers <wce1482 AT yahoo.com>
To: homestead AT lists.ibiblio.org
Sent: Saturday, September 13, 2008 1:48:51 PM
Subject: Re: [Homestead] Fannie/Freddie bailout question

I have listened to what everyone else thinks, so I guess I will tell what I 
think.  Having a degree in history, I naturally look to the past.  We are not 
living in 1929, or maybe 1930.  The government is now bailing out the big 
players while letting all of the little guys go under.  Just as it did in 
1930.  What will happen.  I think we are in for a major depression.  The 
difference from the last one is that then the government was almost debt free 
and the programs instituted effectively transferred debt from the private 
sector the government.  Now most of the people are further in debt, via 
credit cards, than they were in 1929, but in addition, the government is also 
in debt.  As the economy continues to deteriorate, most of the credit card 
debt will be erased.  The mortgages will be foreclosed and banks will fail.  
Those few people who are on land and know how to raise what they eat may be 
alright, but most of the people, who live in cities
are in trouble.  They do not know how to grow food and don't know how to 
learn.  From those city people I have talked to I do not think they will go 
to the country as they are scared to do so.  Unless something drastic is 
started, and fairly soon, the results will be very bad.  Just my opinion.  I 
am very willing to be proved wrong.