I heard a guy saying that what is happening in world fincial markets is the same as what happened in 1929.He is not well informed. The big crash of 29 happened when banks started to restrict credit.Suddenly there was no money to fund buisness and jobs were lost. People had no income to buy things so anyone who was in manufacturing took a huge hit.Real assets like gold and relestate were bought at lower prices and afterward those assets went up in value. It was a large transfer of wealth from the poor to the rich.Today there are no jobs because they all went to china and unlike in 29 were there was no credit, today all around the world central banks are printing huge amounts of money.The end result will however be the same.Hard assets are being bought with inflated soon to be useless dollars and the rich will become even richer
Posted on: Fri, 19 Jul 2013 03:56:24 +0000
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