#OWS Hooverville, the (1st) Depression, and Woodie Guthrie

Summary:  I propose that Occupy Wall Street (AKA:Hooverville) is NOT an anomaly, but is a continuation of the PROOF we are NOW in the SECOND DEPRESSION.

A) "This Land is My Land"
The ORIGINAL Lyrics to the Great song, "This land is My Land",
According (to of course... Wikipedia),

It was written by Woody Guthrie in 1940 based (...) in response to Irving Berlin's "God Bless America", which Guthrie considered unrealistic and complacent.

But the version you and I likely learned as kids was NOT complete, but was CENSORED.


Try these three verses on for size!

As I went walking I saw a sign there

And on the sign it said "No Trespassing."

But on the other side it didn't say nothing,

That side was made for you and me.

Nobody living can ever stop me,

As I go walking that freedom highway;

Nobody living can ever make me turn back

This land was made for you and me.

In the squares of the city, In the shadow of a steeple;

By the relief office, I'd seen my people.

As they stood there hungry, I stood there asking,

Is this land made for you and me?

(For those too young to know, the  "relief office" would today be called the welfare or unemployment office.)

Complete Lyrics to the great tune are HERE


B) Hoover
See a Previous Article I wrote in August 2011 (almost TWO months ago?!), discussing HERBERT Hoover's failures as a president, and especially his CUTTING THE BUDGET to try and fix the economy.
FAILED. (original article written 8/30 here)

C) Hooverville
We're about to face VIOLENCE.  It's great that the people cleaned the park, so that the EXCUSE of  cleaning the park could not be used to EMPTY the park.

We ARE going to take back this country.  It might lead to a second civil war of "The Haves vs. The People", and the idea of that sucks a great deal.


D) The Enemy
THE NUMBER one ENEMY is NOT Wall Street, but "K" Street, the CORPORATE lobbyists.
Corporate campaign laws (as dictated by the Supremes)   now allows ENDLESS cash into political campaigns.   I say we need total transparancy, NO more BUNDLING of contributions, and ONLY $250 per candidate VIA an ONLINE site to help remove the political sway of these parasites.

Hoover and the "Great" depression of 1929 (re-hash)

Interesting.  I found this buried in the bottom of another article I wrote.  I managed to discuss two different issues, and this got LOST.

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Summary:  Hoover's actions and lack of BALLS during the first depression caused our county to SUFFER Even MORE then we needed to.  Today's Republican (read TEAPARTY) wants to take us back to the glory days of 1929 to 1932 ONCE MORE, despite the dangers we faced there.
 
I Just can't believe the ABSOLUTE intense similarities between the period AFTER the Great (First) Stock Market Crash of 1929, and TODAY.... INCLUDING Hoover's response to the depression.  Right out of the "TEA-Bagger's Party" I refuse to call them the Tea-Party... (Calling them that insults our American Patriots of 200 years ago!)

The circumstances of 1929 included:                                      TODAY we have:

• One in four workers was jobless.                               *  TODAY one in NINE* workers jobless.
• One in five Americans survived on meager relief
  payments.                                                                    * Unknown today
• The stock market was down 75 percent from 1929.     * Stock market is ready to crash again
• Exports were at their lowest level since 1904.               * Needs research!
• In just four years, the suicide rate had tripled.                * Unknown Today

* Official statistics say 9.5% unemployment (equals about 10.57 per 100 out of work), a realistic number including those (like me) who are UNDER-employed or unable to find FULL TIME work would be 11% unemployment, which gives ONE IN NINE (11%) unemployment.
For certain sectors, like unemployed black youth, current unemployment is around 30%!  or WORSE then the FIRST depression!

Hoover's reaction to the "Depression" (which was not called the great DEPRESSION then, of course, but MAYBE called "A RECESSION!)  FDR's presidential Library (see HERE) says

"As the nation suffered, its government seemed paralyzed. President Hoover had tried to combat the Depression, but he believed in limited government and relief through private charity.

 Though he eventually approved credit assistance for businesses and some public construction spending, Hoover was reluctant to fund massive public works projects, provide federal relief money to the unemployed, or increase government regulation of the economy. By 1933, he was reviled and exhausted.

 Let's do an "INSTANT replay" on that again!


President Hoover tried to combat the Depression, but he believed in limited government and relief through private charity.

Though he eventually approved credit assistance for businesses and some public construction spending, Hoover was reluctant to fund massive public works projects, provide federal relief money to the unemployed, or increase government regulation of the economy.

Gee.... Sounds like today's REPUBLICAN Campaign Platform ALL over again.  Especially for those like MICHELLE Bachman and the OTHER TEA-Baggers out there.

And guess what will happen.

We may actually be STUPID enough to VOTE them in again, and have ANOTHER 4 years of MASS damage to our economy.

Bad Idea?! Latest (bank) bailout

THIS IS TERRIBLE.

New bailout plan (toxic assets purchases)=Crazy

put $0.07 down, and the government will put 7 cents in and LOAN you 85 cents to buy ONE dollar of toxic assets.

You share the profits/losses (up to 15%) with the government.

so you put 7 cents in, you COULD lose another 15 cents =22.5cents lost.

How is this anything but PAYING the banks for poor work??


This year's Nobel Laureate (Paul Krugman of the NY Times) agrees that this is NOT a Good idea.

Also:

• I do NOT think that we (as a nation) are getting better.
• The recent stock drop (DOW)from 7500 to 6500 came 15 months before I predict the bottom of the market will come.
• Since the Dow has already dipped to 6500, I think the new bottom will be perhaps 4750. Still around june 30th of 2010.
• I STILL say that we are in for another major financial crisis, that of the OTHER collateralized debt obligations (financial obligations based on aggregated assets) when THEY collapse. Credit card, car loan, college loans and ALL consumer loans that were made into CDO's will collapse, and cause major havoc in our government (again!).
• I still say we need an OUTRIGHT ban on all CDO creation again
  

The End -- Isn't near. -- A (few) prediction(s) for 2011 mod 1-18-09

(orig posted 1-12-09-
ADDED 1/19/09)
update 2-2-09)
updated 2-23-09, and redated to that day!!!

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----->>> UPDATE.. 2-23-09 <<<------------ It's bad. It's SO SO SO bad, that I may need to re-think my prediction, and DOWNGRADE this again... I expect 2011 (two years from now), is still around when we will bottom out, but I think 6750 will be THIS year, perhaps by August 15th, 2009. Today, the Dow closed at 7114.78 down 250 points...,(2-23-09) From 2-02 to 2-23 the dow lost 780 points

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--->>>2-23-09 update<<<----- Dow will be at 6750 THIS summer (august 15th). --->>> Remember folks, I am NOT an economist, nor do I play one on TV (or radio)!

OK, I am sorry. I just wanted to "officially" state that I believe we will FINALLY be done with (the BOTTOM of the recession/depression) in 2011. Specifically, I say around May 31st or June 1st of 2011, the DOW Jones Industrial Average will drop (finally) to 6570.

Today (1/9/09) the dow closed at 8599.18 Down 143.28

(2/2/09) The Dow is currently at 7894.69 DOWN 106 (as of 1:58PM)

That's down 704 points in LESS THEN A MONTH...

So I'm predicting that the dow will drop ANOTHER 2200 points before it starts to go up.

Hey. This is the second depression... Sorry to be a downer, but put that cash somewhere else!


Cheers

Mark Brown

OH.

(update 1-18-09)

Forgot to mention:
as of last week unemployment was up to 7% (officially)

Let's hypothesize that it ain't getting better (unemployment) and will rise (officially) at 1% per month (as it has for past 3 months... (5%,6% and now 7.2%...)

25-7= 18 (25%=unemployment rate during the FIRST depression...)
less current unemployment rate:

gives us 18 months before the GOVERNMENT OFFICIALLY calls this the second Depression.

What to do?

Don't get fired.
Don't go and change your job.
Don't go and give up working.

DO stop using that credit card.
Do start to save (whatever you can)
Do pray. It always works, even if you don't think so...

Bottom Line?

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The Second Depression is HERE. No one will admit it for another two years.

But it's here.

Let's pray that we can all find jobs to help us dig out of this terrible problem..

Good luck to all!

A prediction-- An Admission --A Second DEPRESSION!

OK. I think after two years of writing about this topic I can be honest.

the REAL point of this blog is to point out that we
were heading for a SECOND "Great" DEPRESSION.

OK. We're there now. I think EVERYONE (except for the public, the press and officials)
can admit the truth.

It's BAD out there!

I think that EVERYONE in the POOR America can honestly say that

IT IS a

Second DEPRESSION

I think we need to ADMIT the truth.

Just like "The Great War" (or the "War to end ALL WARS") became WWI,

We now have to admit the "Great Depression" should now be called
"The FIRST Depression"

'come clean...

It REALLY is the truth.

And remember.

I predict that we STILL aren't over the worst yet.

The "CDO" problem (with Sub-prime Mortgages) are TERRIBLE and are NOT finished with the problems (into the public).

Just like an Iceberg (where only 25% of the iceberg is visible above the water) there is 75% of the iceberg (OR CDO problems) LURKING in our WORLD's FUTURE.

Fact and Question One:
Sub-prime (and STILL regular mortgages) are STILL made into CDO's. WHY is this???

Hasn't it been proven that making mortgages into CDO's is NOT a safe way to invest in Mortgages?

Fact and Question Two:
Consumer Money (Credit Card, Student Loans, Car Loans) is STILL being made and SOLD into CDO's.

Isn't anyone looking ahead to the immediate FUTURE? The SUB-prime mortgage CDO's Crashed.

Does NO ONE ELSE see that CONSUMER debt is ALSO going downhill, or I am Just
So far ahead of the economy (again...) that my predictions are AGAIN at least 2 years AHEAD of everyone else.

Btw, my first post (and prediction about the need for a SECOND new deal (or an SOS for a New Deal) is HERE ?

At any RATE: .. .. .. .. Drum..Roll.. My 2009 predictions....

I predict:

1)The financial industry will NOT listen, and will continue to make cdo's out of mortgages (VERY bad idea). They will find many fewer buyers then previously expected.

1A) I predict that (eventually), the Obama administration will require banks to finally start to HOLD their own debt (again, the way it USED to be!) CDO's will become banned.

2) The CDO market for Consumerized debt (credit card, home, college) WILL COLLAPSE.
Many (Millions???) of us/you will be forced to file CONSUMER bankruptcy.

2a) It will ONLY be after THOUSANDS and THOUSANDS of consumers start to overwhelm the FEDERAL bankruptcy courts that the PRESS will FINALLY notice, and bring to the attention of the Congress that the RECENT (2005) bankruptcy laws were NOT CONSUMER FRIENDLY, and ONLY favored the BANKS..

3) The 75 percent of the iceberg that hasn't yet collapsed will swiftly drop, when the US Financial industry starts to notice millions of late payers, and bad debts.

4) The CURRENT US auto industry bailout (Bush -Version 0.50) will fail. There is No longer a Market for automobiles (such as existed two years ago). The next question is: WHO are we TRYING to save?

4a) The current major Industry of Advertising, will be one of the first auto-related businesses to fail (bigger then WALL STREET!)

4b) Auto Makers, Dealers, Resellers, banks, and even car rental companies will Absolutely stop all advertising, as a method to stave off bankruptcy. This will lead Ad agencies to close, and Print media (magazines, newspapers) to be the THIRD industry to fail

Example # 4) The January 2009 issue of GQ was 128 pages. This (I presume) was the First issue after the fallout of the September Stock (and everything) crash (or 1929 crash Two!)

Normal issues of GQ, owned by Conde Nast (as is the New Yorker, and many other magazines)
are about 400-500 pages.
CONSPICUOSLY absent are Car Companies, and MANY, many consumer retail brands.


Mark B in NJ...

(A review for new readers below...)

Fortunately, I really think my 12 point program for pulling us out of the depression CAN work, especially if we do them ALL at once.


Here are the points:

* The current out of control capitalist system has now failed us.
* Single Payer Nationalized health care (to get ins. co buy-in- phased in over 5 years)

* We've managed to WASTE a FULL (and alienate) a FULL generation (from Zero to thirty) with decaying social, educational, and interpersonal skills.
* Our nation is no longer DOING (producing) anything.

SO, from these few premises, I have extrapolated a great deal of items to FIX our society...

We need to do the FOLLOWING to FIX our Society:
* Create A Living Wage
* Create a National Single payer Healthcare
* Create a National 3-4 year draft (or alternate service)
* Create a Federally paid Day Care starting at six months
* Implement Tax Reform on the ULTRA Rich I call this the Milionaire's Minimum Tax!
* Lobbying (Political Reform)
* Education
* Infrastructure (road /bridge/Systems repairs)
* Lack of Training/futures
* A real "Truth and Reconciliation" Commission
* A new "Manhattan" project, focusing on Energy INDEPENDENCE


It's all in the sos-newdeal blog here.

Or just email me for specific questions.

I like to say they all go hand in hand, and it's like juggling a bunch of running chain saws.
Dangerous if any of them drop, but spectacular to watch as being juggled!

Mark Brown in NJ