While some “economic experts” and the Obamedia strove to smear lipstick all over yesterday's stock market pig, others are keeping one eye on the big picture and the other on historical referents:

The current global stock-market crash is eerily reminiscent of the Wall Street crash of 1929, investment expert and author James Dale Davidson told Newsmax TV.

“What we're seeing, if I could say it this way, is a rerun of 1929 with the main crash falling in Shanghai rather than in Wall Street,” he told Newsmax Prime….

“If you're not scared, you're not watching,” he said….

As to what to expect in the future, he explained that the answer can be found in the past. Specifically, the Wall Street crash of 1929.

“If you look back at these economic crises and stock market collapses that are associated with depressions, the first stage is what we've already seen, which is the big fall off in commodity prices,” he said.

“If you go back to the Great Depression, it didn't start in 1929 in all the countries, he said.

“It started in 1928 in Australia and in Argentina and Brazil, Uruguay, and Finland, Bulgaria, and in Germany. The depression had already begun by 1928 and then we had a huge, huge sell-off in Wall Street, which sort of rang the bell so that anybody who was not watching then knew” that we were in deep trouble.

In other words, it started elsewhere in the world “under the radar,” and then it hit the Dow – not unlike the deflation of the ChiComm “stock market” triggered yesterday's panic.

“We’re into this same kind of cycle as it relates to the collapse of world demand, the fact that we've had commodity prices plunging,” he said.



“If you go back to December of 2011, the price of iron was $190 a metric ton. Now it's down to $44. We remember the price of oil being up at $140 some dollars and now it's the low $40,” he said. “This is a very significant indication of weakness in the global economy.”

It's a mutually reinforcing downward spiral. The global economy is weak because the U.S. economy is in a permanent, artificially-engineered and -imposed and -maintained depression, and because the U.S. economy is in a permanent, artificially-engineered and -imposed and -maintained depression, the global economy is weak. Bottom line is, if the U.S. economy sucks, the global economy isn't going to boom. Or, as I keep pointing out, there will never be anybody who'll be either able or willing to bail usout.

But then, this recognition of the similarities between today and eighty-six years ago are nothing new:



The New York Stock Exchange, NASDAQ, etc. are, as is frequently argued, not the U.S. economy as a whole. But stock markets are the economy's barometer of confidence – and delusion. It's one of the big reasons why the Obama Fed has been printing money like mad for the past nearly seven years – to conceal just how disastrous the Obamaconomy was, is, and remains. But as I continue to relentlessly and Jeremiacally point out, one cannot spend oneself rich, tax oneself into prosperity, or run up catastrophic levels of debt indefinitely without there eventually and inevitably being equally catastrophic economic consequences. It's a race to the calamitous bottom between hyperinflation and depression that the latter commandingly leads, for which there will be no macroeconomic “cures” as in 2008 because all those “cards” have been played out.

There will only be economic collapse on a massive, worldwide scale, and a final, global war that snuffs out human civilization for good.

That is the parallel with 1929, after all. Except this one will have nuclear weapons.

It's only a matter of time….

Credit to Before it's News