Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Snarkoleptic

(6,242 posts) Tue Dec 3, 2019, 08:46 AM Dec 2019

We Are on the Brink of the Second Great Depression (Forbes) [View all]

Last edited Tue Dec 3, 2019, 09:31 AM - Edit history (1)

https://www.forbes.com/sites/johnmauldin/2019/12/03/we-are-on-the-brink-of-the-second-great-depression/#1f485f0d6145

You really need to watch this video of a recent conversation between Ray Dalio and Paul Tudor Jones. Their part is about the first 40 minutes. In this video, Ray highlights some problematic similarities between our times and the 1930s. Both feature:

a large wealth gap
the absence of effective monetary policy
a change in the world order, in this case the rise of China and the potential for trade wars/technology wars/capital wars.

He threw in a few quick comments as their time was running out, alluding to the potential for the end of the world reserve system and the collapse of fiat monetary regimes. Maybe it was in his rush to finish as their time is drawing to a close, but it certainly sounded a more challenging tone than I have seen in his writings.

Here's the linked video-
https://finance.yahoo.com/video/greenwich-economic-forum-184135910.html?utm_campaign=JM-305&utm_medium=ED&utm_source=for

31 replies

= new reply since forum marked as read

Highlight:

We Are on the Brink of the Second Great Depression (Forbes) [View all] Snarkoleptic Dec 2019 OP

Frightening article. Mike 03 Dec 2019 #1

Federal officals know it's getting rough, as evidenced by- Snarkoleptic Dec 2019 #3

Thanks. His meddling with the Fed is extremely unnerving. Mike 03 Dec 2019 #14

And if a 2nd depression does happen ... aggiesal Dec 2019 #25

Thanks for posting Sherman A1 Dec 2019 #2

No, we're not. Goodheart Dec 2019 #4

Thanks for the detailed response! Nt USALiberal Dec 2019 #10

Well, I'm pretty concerned because the debt has reached unsustainable levels, PatrickforO Dec 2019 #21

Well said! nt c-rational Dec 2019 #27

That was so thought provoking and added Ferrets are Cool Dec 2019 #26

So If The Repugs Know This Wouldn't They Want To.... global1 Dec 2019 #5

Trump needs to stay in office to avoid presecution. Snarkoleptic Dec 2019 #6

AGAIN he makes all decision based on what is good for himself. Never We the People. Always..... usaf-vet Dec 2019 #9

If so, a Democrat will have to clean up the mess StarfishSaver Dec 2019 #7

same as it every was. also following the elephants w the brooms and shovels. mopinko Dec 2019 #11

Their arguments have merit bucolic_frolic Dec 2019 #8

One caution is that lots of these analysts are 'goldbugs' who Snarkoleptic Dec 2019 #17

This is their goal Johnny2X2X Dec 2019 #12

Wow great video extvbroadcaster Dec 2019 #13

Even Within The Snip, I See Questionable Premises ProfessorGAC Dec 2019 #15

Thank you for writing this mahina Dec 2019 #19

Thank you for these salient points n/t Kitchari Dec 2019 #20

+1, doesn't look like banks are locking up money flow ... quite the opposite. uponit7771 Dec 2019 #29

Add to that this alarming statistic UpInArms Dec 2019 #16

What we have here is productive overcapacity from QE1-2-3 and it's still continuing bucolic_frolic Dec 2019 #18

Part of a Russian plot to destroy us? I'd once have laughed at that. Hortensis Dec 2019 #22

Second Great Recession, anyway. sandensea Dec 2019 #23

BUY GOLD! SansACause Dec 2019 #24

We are in different times than the first GD. roamer65 Dec 2019 #28

And if the wingnuts get their way,,, quid amateur quo Dec 2019 #30

When gold bugs start gnashing their teeth about fiat currency tritsofme Dec 2019 #31