Comments on: The Great Depression, the Credit Crisis and the Future of your Food http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/ Finding the keys to the future…and trying not to lose them in the mess. Thu, 09 Feb 2012 18:26:03 -0700 hourly 1 http://wordpress.org/?v=3.0.1 By: louboutin uk http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/comment-page-1/#comment-72020 louboutin uk Fri, 28 Oct 2011 01:53:33 +0000 http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/#comment-72020 I am glad to come here! Thanks for sharing the such information with us. I am glad to come here! Thanks for sharing the such information with us.

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]]> By: Lynn http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/comment-page-1/#comment-9344 Lynn Sat, 29 Nov 2008 04:39:49 +0000 http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/#comment-9344 In reading about the Great Depression, it was interesting for me to read about the Portuguese fishermen in the northeast who were among the few "successful" businesses in the U.S. as there was always lots of seafood if nothing else. I live in Florida, a few blocks from the water. Growing in Florida is also easy as it is warm year round. Makes me want to stay put. Now, if the seas just don't rise.......... In reading about the Great Depression, it was interesting for me to read about the Portuguese fishermen in the northeast who were among the few “successful” businesses in the U.S. as there was always lots of seafood if nothing else. I live in Florida, a few blocks from the water. Growing in Florida is also easy as it is warm year round. Makes me want to stay put. Now, if the seas just don’t rise……….

]]> By: Worrisome Times « Herbert’s Kitchen http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/comment-page-1/#comment-9343 Worrisome Times « Herbert’s Kitchen Sat, 22 Nov 2008 16:48:24 +0000 http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/#comment-9343 [...] blogosphere has been particularly depressing as of late. Sharon over at Casaubon’s Book has a sobering description of depression-era food woes, and fears that it might repeat [...] [...] blogosphere has been particularly depressing as of late. Sharon over at Casaubon’s Book has a sobering description of depression-era food woes, and fears that it might repeat [...]

]]> By: John Petty http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/comment-page-1/#comment-9342 John Petty Mon, 20 Oct 2008 03:17:31 +0000 http://sharonastyk.com/2008/10/05/the-great-depression-the-credit-crisis-and-the-future-of-your-food/#comment-9342 Marriner S. Eccles, was the Chairman of the Federal Reserve from 1934 1948 In his 1951 memoir Beckoning Frontiers, Eccles detailed what he believed caused the Great Depression. Our current situation is eerily similar. Eccles wrote: "As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth — not of existing wealth, but of wealth as it is currently produced — to provide men with buying power equal to the amount of goods and services offered by the nations economic machinery. Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped. Marriner S. Eccles, was the Chairman of the Federal Reserve from 1934 1948

In his 1951 memoir Beckoning Frontiers, Eccles detailed what he believed caused the Great Depression.
Our current situation is eerily similar.

Eccles wrote:

“As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth — not of existing wealth, but of wealth as it is currently produced — to provide men with buying power equal to the amount of goods and services offered by the nations economic machinery.

Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.

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