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174 Comments
- acroyear2, on 09/25/2008, -3/+96The Great Depression.. or the GREATEST Depression?
- n00ptic, on 09/26/2008, -0/+40You do realize That Buffet is backing Obama, and is one of his economic advisers, right?
- covertbadger, on 09/26/2008, -7/+33"My kids deserve better."
I think that's precisely the feeling of entitlement that causes a credit economy. Millions of kids all over the world don't have enough to eat - why do your kids DESERVE better than having their parents stand in line for a couple of hours to get bread? Why do your kids DESERVE anything at all? At least they have warm clothes and a roof over their heads. Oh no, mommy and daddy might have to queue for a bit rather than swiping the credit card at the local Walmart? The poor wee neglected kiddies!
Most 3rd world inhabitants have it a lot worse. Get a sense of perspective and stop whining. - imasuperDOTcom, on 09/26/2008, -4/+29It's funny how people are viewing the possibility of a depression at this moment in time. I think a lot of people are making light of it, others are making a 'ton' of it, and yet hardly anyone (especially on Digg) has experienced the previous 1930's era US depression. We have no idea what it's like to stand outside of a building for hours, or even days at a time for the small chance at applying for an extremely low-paying job. Especially after being unwillingly unemployed for the last 15 months. We don't have a clue how it feels to know that while we're standing in that line, our wife (husband, or "Life-Partner") is standing in a smiliar line desperate to get some bread for the rest of the family.
"... Really is going to be Fun!"? You sir have no idea. I'm genuinely hoping that we don't have to find out. My kids deserve better. - mooseofshadows, on 09/26/2008, -1/+24If Buffet was mocking the gold standard, why would he and RP be a good match?
- skoles, on 09/26/2008, -0/+23- Flappers
- Speak easy's
- Moonshine
- Tommy Guns
- Hats with a card that says "Press" in them
- 23 skidoo!
It's gonna be a roaring great depression! - dse78759, on 09/26/2008, -4/+26Economists never tell you things about what's happening, they tell you what happened.
They're "money historians". - SkippyDoorknob, on 09/26/2008, -0/+22My grandmother talked of her family going down to the train yard and walking along the trains picking up scrap bits of coal that fell from the coal cars for use at home for heating and cooking. Nowadays we cry and moan when our internet access is capped at 250GB per month...
- 0livero, on 09/25/2008, -9/+30It's over 9000!!!
- tetsuo29, on 09/26/2008, -2/+22Sometimes the only sane response in the face of utter insanity, like the situation we may now be facing, is just to laugh at it. You got any better suggestions? Let's hear 'em.
- inactive, on 09/26/2008, -1/+16The standard of living was much lower then. Technology is pretty advanced and pretty damned inexpensive these days compared to then. You can't really compare it. The high life back then would have seemed like a depression to us now. Otherwise, I agree with you.
- tetsuo29, on 09/26/2008, -2/+15Is it just me or does any one else think that before we take $700 billion of borrowed money from the federal treasury for a bailout, we should seize all of the assets of the ass clowns that ran these banks into the ground and then send them packing? I know this might sound all french revolution-y and so forth, but before we pay dime one from the federal treasury to save these companies, shouldn't the CEO's and boards from these financial houses of ill repute be sleeping under the freeway somewhere cooking sewer rat over a fire made from busted up old pallets wondering who is now sleeping in their mansion and driving their Ferrari? So what if we only manage to recover $500 million or $2.5 billion in the process. $700 billion - $2.5 billion = $697.5 billion plus the satisfaction that maybe this time there will be some price to pay from these mutha ***** for failing in the free market capitalist system.
- theutopian, on 09/26/2008, -0/+12I got this e-mail too. However his math is completely wrong. $85 Billion divided by 200 million is $425 not $425,000. Buried for stupidity. America's math skills for FTW!
- Squaker, on 09/25/2008, -9/+20Funny.
- inactive, on 09/26/2008, -1/+11There's been a (relative) depression for a long time. The only difference now is that the rich people are being affected.
- gerbco, on 09/26/2008, -1/+10Number 1 usage?? Jewelery.. thank you for proving my point.
- GamingForever, on 09/25/2008, -5/+13Awesome!
- yellowsnowcone, on 09/26/2008, -0/+8I am looking forward to buying some distressed assets on the cheap. I love a good crisis in the morning. It smells like ... like victory.
- redog, on 09/25/2008, -26/+34Paul/Buffet 09!
- aspec, on 09/26/2008, -0/+8Well, if you believe in this "Greatest Depression" idea, then all you have to do is hold out on your mortgage payments until the dollar collapses. Then you can take your week's pay over to the bank and pay off your home loan. That is, if your lender is still around.
- thundercoyote, on 09/25/2008, -3/+11vaudeville is coming back! yeah i said it a!
- inactive, on 09/26/2008, -0/+8Anarchists putting pipe bombs in schools! It makes class much more interesting.
Homeless boxing promoters! They're always gettin' into trouble!
The Charleston!!!
And all the Jazz cigarettes you can smoke!! - jeffiek, on 09/26/2008, -0/+8I am a parent and I agree with CovertBadger. I am the father of a 21 year old boy. He's doing just fine (cross my fingers) thank you.
When he was born he had two arms, two legs, 10 fingers, and 10 toes. Just like all the little boys born all over the world. He deserved to be fed, clothed, and loved. Just like all the little boys all over the world.
I am extremely glad that I could do better for him than many fathers in the world can do. But he did not DESERVE it any more than anyone else. - BuryBrigade08, on 09/26/2008, -2/+10Just shows how much people want doom and gloom. We have yet to even have a recession and already people are calling for the Great Depression. Its completely irrational and not based on reasoning - people just enjoy acting hysterical and panicking. They also enjoy being able to blame all their problems on the economy.
- MindStalker, on 09/26/2008, -0/+8Buffet has a huge personal stake in this economy. Its not like Obama could possibly pay him any amount of money for his time that would matter. The issue is, Buffet, one of the richest men in the world, who made their money from this stock market agrees with Obama so much that he is willing to volunteer his time to advise him.
- pwnzj00, on 09/26/2008, -1/+8Haha epic fail.
- larissa13, on 09/26/2008, -2/+9The kids he is referring to are in deep trouble. Never have they had to wait to get what they wanted. Never has money been an issue. Rarely do they hear the word no. When I was 16, I was the kid asking if you if you wanted fries with that. Today walk into any fast food establishment and there are no kids. I see senior citizens & foreigners. American kids think theyre above doing hard labor. They dont want the jobs they think suck. Maybe know the kids (and their parents) will realize no one is above flipping a burger!
- dse78759, on 09/26/2008, -0/+7#7 - Cannibalism . Either of economists or cheeky bloggers.
- gigitrix, on 09/26/2008, -0/+7clever, repeating a 17 hour old comment...
- gigitrix, on 09/26/2008, -2/+8Dugg for great justice
- DiggsOnlyJew, on 09/26/2008, -3/+9If anything, my generation needs a depression (I'm 23) as a wake up call, almost all of my friends think we're in a giant recession as they wait in line for iPods and iPhones while they text all of their friends about which bar to go out and spend $30 to get drunk tonight after they get off work from their cozy white collar jobs...
- Tbyrd073, on 09/26/2008, -0/+6Gonna say he needs about $84.9 Trillion more dollars for that to happen......So I say its for a good laugh at least at his math skills.
- danielle2308, on 09/25/2008, -12/+18Borrowing... alother ***** load of money is just going to make our economy worst... ***** Bush, he's already ***** us up enough.
- mfc5200, on 09/26/2008, -0/+6Seriously, everyone is being too dramatic. A recession? Maybe. But a depression such as that of the 30's involves 25%+ unemployment and a host of other problems as you said. I don't think it will come to that, or at least I hope not.
- ScottNyRealtor, on 09/26/2008, -0/+6What difference does it make? There will always be poverty no matter how many people come up with some kind of pipe-dream solution to get rid of it. What matters to him is preserving a decent future for his children, which every parent (I hope at least) would want for their kids.
- craighoxton, on 09/26/2008, -1/+7This is what happens when bankers write checks the economy can't cash
- covertbadger, on 09/26/2008, -0/+5@imasuperDOTcom
"I disagree with CovertBadger in that I felt as though he was implying (As he indicated) that I was the problem with America, and I truly disagree."
I didn't say you're the problem with America, I said that the attitude that your kids DESERVE a life of luxury is indicative of the "I want it now" society we live in. If you want the best for your kids, great; if you feel aggrieved at the idea that you might not be able to give them everything you want to give them, that's great too - it's natural. My problem is with the idea that they DESERVE it. If you'd used a different word, I probably wouldn't have bothered replying. But let's be very clear that there is a vast world of difference between having the good fortune to be born in a rich country to intelligent and loving parents, and deserving the benefits that it brings. Your kids don't deserve these things any more than some starving, fly-covered orphan in Africa deserves his lot in life. Some of us are lucky, some aren't - but the second you argue that your kids deserve all the luxuries that Western civilisation can bestow, you step over the line.
@sheasie
"Are you actually trying to justify America's economic collapse?"
Don't be so ***** cretinous. I think you ought to concentrate on fundamentals, like basic reading comprehension, before you try and advance to adult topics like politics and economics. Back to your homework now, the grown-ups are talking. - positron, on 09/26/2008, -0/+5No, panic is exactly what they want.
Step 1: "Be scared! Fear! Emergency! Danger Wil Robinson! Danger!"
Step 2: "We need your money and the fear and danger will go away. Trust us. We're from the government. We're here to help."
Step 3: Profit! - thescimitar, on 09/26/2008, -1/+6This comment is older than the internet.
If reading the discussions on digg, specifically the economic ones, bothers you, either contribute or GTFO.
Otherwise, stfu with your daily, "Here we go again with the digg.com economic professors........................." - FuzzyBunny, on 09/26/2008, -0/+5Interesting read, but I found #5 a bit ridiculous, especially the jab at Stephen Levitt. It's important to note that there are different fields of economics. In Levitt's case he's a behavioral economist. The current crisis we're in is a macroeconomic problem. Asking a behavioral economist for their opinion on macroeconomic events is akin to asking a pediatrician to diagnose and treat your cancer. They may have more working knowledge of the area than the average person, but you're a lot better off seeing a specialist.
- positron, on 09/26/2008, -0/+5If you've made the hard decision and committed to get dugg down for repeating a worn-out unfunny meme, the least you could do is have the dedication to get it right.
- BuzzFriendly, on 09/26/2008, -0/+5Not quite how about the borrowers borrowing money they know they can't pay back. Should they not be held liable for in essence stealing?
- orlyfactor, on 09/26/2008, -0/+5Dogs and cats living together...mass hysteria!
- inactive, on 09/26/2008, -0/+4I'm with you. Declare these dickholes "enemy combatants" and send their pasty white asses to Gitmo.
- jonshipman, on 09/26/2008, -0/+4It'll suck when I have to kill you to eat, no offense.
- inactive, on 09/26/2008, -0/+4Better check that math before you publish and make your self look like an idiot to millions. It's on Digg? Oops!
- inactive, on 09/26/2008, -0/+4Muahahahahahahahahahahahaha.... MUAHAHAHAHAHAHAHAHAHAHAHAHA!!!
- OrigamiRonin, on 09/26/2008, -0/+4@imasuperDOTcom:
It is well and good that you desire the best for your children. It sounds like you are trying to teach them many valuable lessons and I wish you the best.
Still, I think CovertBadger is spot-on. Nobody's children DESERVE anything more than a chance to better themselves and live with human dignity. Your children were born into one of the richest societies on the planet, and from the sound of it you're doing alright for yourself. What did your children do to deserve that kind of head-start? Put another way, what did a small starving child in Africa do to deserve being born in a hell-hole? Neither one of them did anything to deserve their position.
Through work and good fortune you have given your children a better chance than most children on the planet. Be grateful for it, but realize that they don't "deserve" that luxury any more than a child born to hellish poverty "deserves" to suffer. To feel otherwise is most certainly to hold a sense of entitlement.
My 2 cents. Cheers, and best of luck. - DiggsOnlyJew, on 09/26/2008, -1/+5Both of you are idiots if you think Democrats or Republicans care about solving any problems, they just want their respective guy elected...
- inactive, on 09/26/2008, -1/+5The fact that other parts of the world are so much worse than we are is probably a huge reason why we're going through what we are right now.
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