Drudge Retort: The Other Side of the News
Tuesday, December 03, 2019

Financial writer John Mauldin writes about current conditions that similar to those that lead to the Great Depression: a large wealth gap; the absence of effective monetary policy and a change in the world order, in this case the rise of China and the potential for trade wars/technology wars/capital wars.

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On the other hand, we could be on the verge of a golden age.

#1 | Posted by Sniper at 2019-12-03 01:30 PM | Reply | Newsworthy 1

Leftists love gloom and doom stories. I'd hate to go through life terrified of so many hobglobins.

#2 | Posted by nullifidian at 2019-12-03 03:06 PM | Reply | Newsworthy 2

I'd hate to go through life terrified of so many hobglobins.

#2 | POSTED BY NULLIFIDIAN

Is that why you remain blissfully, willfully ignorant?

#3 | Posted by jpw at 2019-12-03 03:21 PM | Reply | Newsworthy 6

we could be on the verge of a golden age.

#1 | Posted by Sniper at 2019

It's Trump: -------------.

#4 | Posted by Zed at 2019-12-03 03:55 PM | Reply

The data and historical record are facts.

The meaning of it, at this time in history, is another thing.

But I will say this: The rich and informed are hoarding their cash so they can buy at the bottom. We, as a whole, decided to let them keep their tax money too. They will use it to buy everything you lose when the crash does come.

#5 | Posted by BruceBanner at 2019-12-03 04:02 PM | Reply | Newsworthy 1

The next Civil War might not be the war that we were expecting. May end up being a class war.

#6 | Posted by danni at 2019-12-03 04:25 PM | Reply

The Great Bush Recession followed by a Dem, Obama, cleaning up the mess and take the blame for how long that took... it's only long-held GOP Starve the Beast strategery that the Great Trump Depression is next up.... with the next Dem Pres to clean up the mess and take the blame again.

;

"The Republican Party has totally abdicated its job in our democracy, which is to act as the guardian of fiscal discipline and responsibility," says David Stockman, who served as budget director under Reagan.

"They're on an anti-tax jihad " one that benefits the prosperous classes."

It's the kind of thinking that only money can buy. "It's a vicious circle," says Stiglitz.

"The rich are using their money to secure tax provisions to let them get richer still. Rather than investing in new technology or R&D, the rich get a better return by investing in Washington."

"We started talking about just cutting taxes and saying, Screw the deficit,'" Bartlett recalls. "We had this idea that if you lowered revenues, the concern about the deficit would be channeled into spending cuts."

It was the birth of what is now known as "Starve the Beast" " a conscious strategy by conservatives to force cuts in federal spending by bankrupting the country.

As conceived by the right-wing intellectual Irving Kristol in 1980, the plan called for Republicans to create a "fiscal problem" by slashing taxes " and then foist the pain of reimposing fiscal discipline onto future Democratic administrations who, in Kristol's words, would be forced to "tidy up afterward."

www.rollingstone.com

#7 | Posted by Corky at 2019-12-03 04:40 PM | Reply | Newsworthy 3

They are currently pumping billions weekly into the economy.

Will it help?

#8 | Posted by fresno500 at 2019-12-03 05:11 PM | Reply

Anything to try to discount this Thundering!! Trump economy.

#9 | Posted by phesterOBoyle at 2019-12-03 09:08 PM | Reply

"Trump economy." - #9 | Posted by phesterOBoyle at 2019-12-03 09:08 PM

Yeah.

Thanks, Obama.

How did that George W. Bush economy treat you, fester?

#10 | Posted by Hans at 2019-12-03 09:12 PM | Reply

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Leftists love gloom and doom stories. I'd hate to go through life terrified of so many hobglobins.

#2 | Posted by nullifidian

Rapists! murderers! drug dealers throwing drugs over the wall that are landing on people! AMERICAN CARNAGE!

The left worries about real threats - climate disasters, pollution, illness, economic collapse caused by ruining the economy for the benefit of the rich.

The right worries about boogeymen that barely even exist - black panthers, fed gun seizure, MS13, and marxists.

Because you're gullible morons.

#11 | Posted by SpeakSoftly at 2019-12-03 09:15 PM | Reply | Newsworthy 3

"How did that George W. Bush economy treat you, fester?
#10 | POSTED BY HANS"

Ancient history handsy. Oops.

#12 | Posted by phesterOBoyle at 2019-12-03 09:35 PM | Reply

Ancient history handsy. Oops.

#12 | Posted by phesterOBoyle

Yeah 2007 is ancient history for the goldfish brains in the fox news audience.

#13 | Posted by SpeakSoftly at 2019-12-03 09:36 PM | Reply

- I'd hate to go through life terrified of so many hobglobins.

Trump put all Dulli's little brown hobgoblins in cages for him.

Which is why he's proudly taken the Trump Loyalty Oath and joined the Trump White Nationalist Troll Militia.

#14 | Posted by Corky at 2019-12-03 10:31 PM | Reply

We Could Be Nearing the Second Great Depression

I am sure we are.

#15 | Posted by AndreaMackris at 2019-12-03 11:06 PM | Reply

"I am sure we are."

Well, if that's not a reason for more tax cuts to rich --------, nothing is.

#16 | Posted by Danforth at 2019-12-03 11:07 PM | Reply | Newsworthy 2

#15

They are talking about economics, Mattress. Not your post-partum thoughts about maybe losing your tax cuts... which are one reason for the near-future economic problems.

".... current conditions that similar to those that lead to the Great Depression: a large wealth gap; the absence of effective monetary policy..."

#17 | Posted by Corky at 2019-12-03 11:09 PM | Reply

We Could Be Nearing the Second Great Depression
I am sure we are.
#15 | POSTED BY ANDREAMACKRIS

Thanks, Trump.

Thanks, MACKRIS. You built that.
#Winning #ILoveTrumpWhenHe

#18 | Posted by rstybeach11 at 2019-12-04 12:13 AM | Reply

"Yeah 2007 is ancient history for the goldfish brains in the fox news audience.
#13 | POSTED BY SPEAKSOFTLY"

Who knew that the current record breaking prosperity could cause so much despair and hate?
Oh wait...cuz Trump.
#SAD

#19 | Posted by phesterOBoyle at 2019-12-04 06:29 AM | Reply

fun

#20 | Posted by hamburglar at 2019-12-04 06:35 AM | Reply

On the other hand, we could be on the verge of a golden age.

#1 | POSTED BY SNIPER AT 2019-12-03 01:30 PM | FLAG: YAWN

Wisodom from the group thatr insisted there were wmds... and who had to abadone capatist principals to save capitalism.

Who knew that the current record breaking prosperity could cause so much despair and hate?
Oh wait...cuz Trump.
#SAD

#19 | POSTED BY PHESTEROBOYLE AT 2019-12-04 06:29 AM | FLAG: STUPID

if things are bgoing so swimmingly why are all the white boys killing themselves? Oh right their economic prospects suck becuae they aren't worthy of earning a living wage because the billionaire "jobs creator" needs a new jet to dock in a hangar... you know for quick flights to a perverts island so they can-------- by a pubescent girl.

SKR_U BOTH

oh and uh btw... Trumplethinskin is leaving office in disgrace and it is all your fault for voting him in. You purposely put you stupid selves on the wrong side of history and all your deslusions will not change that.

#21 | Posted by RightisTrite at 2019-12-04 06:42 AM | Reply

On the other hand, we could be on the verge of a golden age.

#1 | Posted by Sniper at 2019-12-03 01:30 PM | Reply | Flag:

You spelled gilded wrong.

#22 | Posted by Nixon at 2019-12-04 07:03 AM | Reply | Newsworthy 2

"why are all the white boys killing themselves?"

Is that question serious or the result of a feverish TDS tantrum?

#23 | Posted by phesterOBoyle at 2019-12-04 07:35 AM | Reply

I'd hate to go through life terrified of so many hobglobins.

#2 | POSTED BY NULLIFIDIAN

Is that why you remain blissfully, willfully ignorant?

#3 | Posted by jpw

So, there is a boogie man behind every thee?

#24 | Posted by Sniper at 2019-12-04 11:37 AM | Reply

Who knew that the current record breaking prosperity could cause so much despair and hate?
Oh wait...cuz Trump.
#SAD

#19 | Posted by phesterOBoyle

You're the fool who maxes out his credit card and then thinks he's rich because he's living large.

Trump simply stole wealth from the future to make the present seem prosperous. When the bill comes due his cult, like you, will be dumb enough to blame it on whoever is in power at the time, instead of the debt king who stuck you with the bill.

#25 | Posted by SpeakSoftly at 2019-12-04 01:59 PM | Reply

Trumpers are okay with the next Great Depression.

They call it "short-term pain for long-term gain."

#26 | Posted by snoofy at 2019-12-04 06:09 PM | Reply

I don't see how the coming recession (we are overdue) is a signal for a second great depression. Looks like clickbait.

#27 | Posted by bored at 2019-12-04 09:36 PM | Reply

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