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[william Eggers <wce1482 AT yahoo.com>]

Maybe I shouldn't have gotten started on this.  However, I think that this 
will be a much different depression than the last one.  There will be much 
inflation as, thanks the Nixon, we no longer have any backing for our money.  
It only works because people will accept it. It used to be backed by gold, 
but no longer.  The gold backing tended to keep inflation in check as you 
could always turn your money into gold, which has always had value.  Now 
there is nothing to hold inflation in check.  The Fed is in between a rock 
and a hard place.  If they fight inflation, they deepen the recession,  If 
they fight the recession, they increase inflation.  I suspect they will do 
nothing.

--- On Sat, 9/13/08, bob ford <bobford79 AT yahoo.com> wrote:

From: bob ford <bobford79 AT yahoo.com>
Subject: Re: [Homestead] Fannie/Freddie bailout question
To: homestead AT lists.ibiblio.org
Date: Saturday, September 13, 2008, 4:03 PM

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.


      
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>From liberty AT kaballero.com  Sat Sep 13 17:28:25 2008
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Subject: [Homestead] a good laugh
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Enjoy!  I sure did.   jerry b

http://www.peteyandpetunia.com/VoteHere/VoteHere.htm