Timelines of the Great Depression

deMolay · Intermediate Crude Joined: Sep 04, 2005 Posts: 907

From the time the Market crashed in Oct 1929, it took until April 1930 for the full effects to become apparent. I think what we are seeing is a synergy of more than just markets. Energy costs, food prices, money markets, debt, energy wars, climate factors etc. All acting in concert.
_________________
"Since you have chosen to elect a man with a timber toe to succeed me, you may all go to hell and I will go to Texas." Davy Crockett

Prince · Heavy Crude Joined: Dec 26, 2005 Posts: 233

Well, it took until 1932-1933 for the market to hit a bottom and for the full effects to really set in. October 1929 was just the beginning (just like now). There were mini spikes and glimmers of hope along the way (just like now). But over time, things steadily dwindled downward (just like now).

Delphis

We will know shortly if this is indeed the next downtick...

D.
_________________
"Two things are infinite: the universe and human stupidity; and I'm not sure about the universe."....Albert Einstein

Sys1 · Intermediate Crude Joined: Feb 25, 2005 Posts: 684

I don't think that the 1930's great depression will keep its "great" attribute in the history books of the future, beside of course the case where history books would ceased to be published because of some major problems like say a thermonuclear war or runaway global warming ending in a massive dieoff.

kpeavey · Expert Joined: Oct 04, 2004 Posts: 1323

The depression of the 1930's did not have digital technology to speed along transactions. It took time to process buy/sell orders. Banks used paper. I don't think even punch cards were in use at the time. Modern technology can jam up the works at lightning speeds. We can screw stuff up in a day things that used to take weeks and months to screw up.
_________________
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984

______________
Accept the Facts.

Eli

kpeavey, I think you have got that right, in the 1930's everything moved at a human pace. Calculations took forever and required human input.

Now we have a system of 1 and 0s flying around at the speed of light.

We are witnessing the fall of the current economic system and it is happening a speed that is inhuman.

deMolay · Intermediate Crude Joined: Sep 04, 2005 Posts: 907

Peavey has a strong point. Trillions of dollars are circulating the globe on the internet.
_________________
"Since you have chosen to elect a man with a timber toe to succeed me, you may all go to hell and I will go to Texas." Davy Crockett

skeptik · Last edited by skeptik on Wed Oct 01, 2008 6:11 pm; edited 1 time in total

TreebeardsUncle · Intermediate Crude Joined: Jun 15, 2006 Posts: 602

Don't think we are going to see any depression from this credit squeeze brought on by excessive leveraging.

AlexdeLarge · Last edited by AlexdeLarge on Wed Oct 01, 2008 9:38 pm; edited 1 time in total

Spanktron9

TheDude

Wiki sez:

TreebeardsUncle · Intermediate Crude Joined: Jun 15, 2006 Posts: 602

Agree, that inflating the appraisals of houses, giving too much of the wrong kind of loans to unqualified borrowers, bundling and selling the mbs's to unwitting investors who were left holding the bag etc was largely responsible for leading to the current situation. Believe it was demand from investors in an environment with low long-term interest rates that encouraged the creation of these debt instruments as vehicles by which the investors could earn higher rates of return that drove the development of excessive leveraging in residential real estate at least at first.
g

kpeavey · Expert Joined: Oct 04, 2004 Posts: 1323

Is the argument that punch cards were around or that they did some work? If there was a truckload of punch cards for every one on the planet back then and a machine to do something with them, it would be a drop in the bucket compared to what modern computers can do to really screw siht up fast.
_________________
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984

______________
Accept the Facts.