OK the Trillions are familiar!

Shall we talk about a quadrillion?

At the current rate of borrowing we might make such a number in just a few years.
Let's not do that yet.

What if we just let the banks all go under? Of course almost immediately all major construction would cease. Most construction companies would go bankrupt, owing their suppliers large amounts which would also bankrupt many of them.

I don't know many corporations or companies who also wouldn't exist without bank loans renewed. It is likely that most homeowners would have to stop paying the banks for their mortgages and second and third mortgages!
They wouldn't have a job to pay them.
At least not enough would have a job to keep the banks open.

Almost all chain stores would simply collapse under their inventory debts and their real estate debts.
It will be a strange looking country with all of those empty buildings going to pot.
They would never be able to be repaired for use again! Vandals, fires, weather, etc., would destroy them fast.

Many privately owned retail establishments do not own the land or building--they lease it.
Not enough sales for almost all of them in their high-rent areas. No lease money and out they go. Couldn't get any money from the bank anyway to keep stocked. Those who had the cash in hand wouldn't risk it.

Can't exactly predict the fate of transportation. Old cars would certainly get older and only a few could buy new ones. Spare parts for old ones (like in Cuba) would be a good business. The government would probably control that.

Could we farm again? Could we manufacture things again? could we trade our natural resources for things?
Well we probably don't know how to organize local farming anymore. It would have to be local---only way it could be afforded! No transportation or power.
There aren't many people left (workers, supervisors, execs) trained as manufacturers. No equipment much, and it is hard and dirty work!

As to resources, we could sell a lot of cotton if we had anybody to pick it--we don't have any more cotton picking machines?
Any volunteers. There is a big market for coal in the rest of the world---reckon we could round up enough miners and machines to get it out of the ground and to boats to ship?

Soup lines, wood stoves and fireplaces, and whale oil lamps would again be poplar. Within 2 years all the edible wild animals will be gone. (There are no farm horses, are there)?

Have any of you ever imagined how grand the city of Rome must have been upon one time; or, what Istanbul must have looked like once; or Athens---the cradle of Philosophy?
Even the areas surrounding the Euphrates and Tigris Rivers must have been wonderful.

Bonkers: it will die

Submitted by Bonkers on Fri, 01/30/2009 - 6:25am.

When we have sold the last federal loan that anyone will buy, we will stop the borrowing!

Just how did the conservatives justify all that borrowing and put us in such a place that there is no other alternative?

Did they all expect to get rich before it blew up? Many did!

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Bonk..Conservatives did what??

Submitted by S. Lindsey on Fri, 01/30/2009 - 10:37am.

Uhh.. hmmm.. I am just trying to figure your logic on this one..
I guess no Dems voted for the spending huh..
THEY BOTH DID IT AND ARE STILL DOING IT.. at least the repubs have finally found the stones to all vote against the latest PORKALICIOUS bill.. along with 12 free thinking Dems.. KUDOS to them all..

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Nitpicker$

Submitted by skyspy on Fri, 01/30/2009 - 12:01am.

You will have to plant crops again if you want to eat.

All major loans have stopped. If the farmers don't get loans to plant their crops in the spring we will be paying about $40.00 for a box of cereal this time next year.

Buy farm land and start planning what you want to eat next winter.

Good luck.

Also put your money in gold, silver, and Swiss banks.

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sky: raise crops?

Submitted by Bonkers on Fri, 01/30/2009 - 9:28am.

Where do we get all these small farms? Got any money, even if available?

You stumbled upon the exact problem that is causing this depression!
You stated, "if the farmers don't get loans to plant their crops in the spring!"

Did they not save enough out of last years crop sales to even plant again this year? A credit economy, isn't it?
People got in that deep in 1930 also, couldn't buy anything unless got paid THAT DAY!

Many can't now after the week-end and Monday---broke rest of week.

Businesses the same way.

For the most part they spend more than they can afford to spend, and the banks loaned them much more than they should have---who wouldn't take it if they give it to you?

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