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Reply #8: Tom the comparisons are apt [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 02:44 PM
Response to Reply #6
8. Tom the comparisons are apt
the macro economic issues are very similar and we both know it. Let me post them again

1.- Increased disparaty in income as in severe

2.- Negative saving by consumers

3.- Increased inbalance of trade

4.- Credit (to partly keep those at the middle and even botton able to buy what they could not afford otherwise)

What we don't have today and existed back then was a high tarriff standard... well I will argue that the WTO and NAFTA are just as bad. See imbalance of trade and loss of jobs

Macro factors present back then were also the dustbowl, which helped to exarcerbate things and we may see it again, due to the consequences of global warming

So yes, the paralells at the macro level are there

There are major differences at the micro level, including the rules for trade in the exchange, why a one day collapse will not happen today... in the hopes that you can stabilize the market before it gets to crash territory

But there were also liquidity problems back then

So yes, the paralells are there
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