2008-2009 Is Worse than 1929-1930
By alex.foti
World Economy Falling Faster Than in 1929-1930
By Barry Eichengreen and Kevin O’Rourke.
The parallels between the Great Depression of the 1930s and our current Great Recession have been widely remarked upon. Paul Krugman has compared the fall in US industrial production from its mid-1929 and late-2007 peaks, showing that it has been milder this time. On this basis he refers to the current situation, with characteristic black humour, as only “half a Great Depression.” The “Four Bad Bears” graph comparing the Dow in 1929-30 and S&P 500 in 2008-9 has similarly had wide circulation (Short 2009). It shows the US stock market since late 2007 falling just about as fast as in 1929-30.
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1929-1932 crash projected 2007-2010
The EU Will Not Bail Out Greece: ECB Official
Published: Wednesday, 6 Jan 2010 | 5:07 AM ET Text Size By: Reuters
The European Union would not help bail out Greece, European Central Bank Executive Board member Juergen Stark was reported as saying on Wednesday.
"The markets are deluding themselves when they think at a certain point the other member states will put their hands on their wallets to save Greece," Stark said in an interview with Italian newspaper Il Sole 24 Ore.
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Stark said in recent years Greece had not controlled its public accounts or worked to help improve the country’s competitiveness.
"The Treaties envisage the non-rescue clause and the rules must be respected," he said.
All three major credit rating agencies downgraded Greece in December on concerns about the country’s fiscal deterioration and worsening debt dynamics.
http://www.businessinsider.com/euro-bankers-fly-in-to-fight-for-flailing-greece-2010-1
Industrijske narudžbe u eurozoni pale 2,2 posto
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Sve vise parametara i izvjesca se poklapa sa ovakvim predvidjanjima:
Evo samo par sitnica, da navedem pa možemo dalje….
2010: Giant Gathering Storm Clouds
EXTREME WARNINGS FOR EXTREME TIMES:
Saudi Royals fall
China gains full naval military capability
Russian cuts off natural gas to Eastern Europe
Greece defaults on its debt
Mexico fails as a state
Credit crisis relapse hits the US banks
The US supply chain suddenly suffers disruptions
Fannie Mae is revealed as a slush fund, toxic bond haven, and object of grand criminal fraud coverup
The real 911 story comes out
Iran is attacked
Japan suffers a financial & economic crisis
UKGovt suffers a debt downgrade
Talk swirls for eliminating some central banks
China faces a degree of chaos
Food prices soar in the US
JPMorgan is object of persistent rumors of gigantic credit derivative losses
i…ova mi je najjača
London metals exchange shuts down
-The venerable London Bullion Market Assn would close, unable to fulfill gold orders. The varied stories continue regarding
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Stopa nezaposlenosti u eurozoni na najvišoj razini u 11 godina
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POVIJEST SE PONAVLJA….
"We will not have any more crashes in our time."
– John Maynard Keynes in 1927
"There may be a recession in stock prices, but not anything in the nature of a crash."
– Irving Fisher, leading U.S. economist , New York Times, Sept. 5, 1929
"This crash is not going to have much effect on business."
– Arthur Reynolds, Chairman of Continental Illinois Bank of Chicago, October 24, 1929
"We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices."
"Some pretty intelligent people are now buying stocks… Unless we are to have a panic — which no one seriously believes, stocks have hit bottom."
– R. W. McNeal, financial analyst in October 1929
"Financial storm definitely passed."
– Bernard Baruch, cablegram to Winston Churchill, November 15, 1929
"I am convinced that through these measures we have reestablished confidence."
– Herbert Hoover, December 1929
"For the immediate future, at least, the outlook (stocks) is bright."
– Irving Fisher, Ph.D. in Economics, in early 1930
"…there are indications that the severest phase of the recession is over…"
– Harvard Economic Society (HES) Jan 18, 1930
"The spring of 1930 marks the end of a period of grave concern…American business is steadily coming back to a normal level of prosperity."
– Julius Barnes, head of Hoover’s National Business Survey Conference, Mar 16, 1930
"While the crash only took place six months ago, I am convinced we have now passed through the worst — and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us."
– Herbert Hoover, President of the United States, May 1, 1930
"Gentleman, you have come sixty days too late. The depression is over."
– Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930
"… the present depression has about spent its force…"
– Harvard Economic Society (HES), Aug 30, 1930
"We are now near the end of the declining phase of the depression."
– Harvard Economic Society (HES), Nov 15, 1930
"Stabilization at [present] levels is clearly possible."
– Harvard Economic Society (HES), Oct 31, 1931
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Da se ovo objavi u Americi, bilo bi pokolja, ali kod nas je to normalno.[bye]
HZZ: U prosincu 291.545 nezaposlenih, 21,2 % više nego u prosincu 2008.
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Objavljeno prije 6 sati
U Hrvatskoj gotovo 300 tisuća nezaposlenih traga za poslom
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