Homestead mailing list

[Gene GeRue <genegerue AT ruralize.com>]

On Sep 13, 2008, at 3:48 PM, william Eggers wrote:

> 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.

So, seriously, are you running up your credit card debt? It is an  
enticing thought. All that debt will just evaporate?

>   The mortgages will be foreclosed and banks will fail.

This presupposes that most jobs will disappear and people can't pay  
their house payments. Do you think most businesses 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.

Well, it's not just the issue of food. One winter without reliable  
electricity and natural gas and the devastation would be enormous. You  
can't burn furniture in a faux fireplace.

>   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.

Let's work on that.