Hi You Know: I see you are still pushing your financial woes and issues. Here are some thoughts on your opening paragraph.
You said,
The Great Depression had more to do with shaping the character and defining the last century than any other event, except the great wars that caused and followed the Depression.
There may be some truth here. Certainly, the great Depression of the 1870s which followed the US Civil War was very defining, at least for the USA, but I will grant the the Great Depression of the 1930s was defining. I certainly agree with you that these events you mention have had far more impact than anything claim by the WTS. The SOciety still likes to claim that their message and preaching work had a serious worldwide impact, when the facts show that their little programs have been barely noticed up to that time.
You continued,
The structure of the financial system though has radically changed since that time, in that it is many times larger, global in fact, and it is much more fragile and complex, in that it reacts nearly instantaneously to various factors.
The rapid reaction is not due to the complexity, but to the electronic age where information and messaging can be transmitted quickly. I admit that the finabcial system is more interdependent than ever on a worldwide scale. But, I believe that this will actually strengthen and stabilize the planetary financial markets. Will there be humps and bumps? Yes, but that is normal, and needs to happen in cycles to allow for free market dynamics.
You continued,
The average person is now much more dependent upon and indebted to the system as well. For instance, back in the 30's half the population was still living in rural areas and had a degree of self-sufficiency.
Back in the 1930s and prior it was more difficult to get financing. Yes, the average person is indebted more today, but this balances out. For example, if the system went into a Depression, then personal bankruptcies go way up, and this debt gets discharged. This not only benefits the debtor, but also the creditor. Why?
When, for example, a bank loans money, it can treat the performing loan as an asset. Let's say they loan a person $10,000 on an unsecured credit line. The bank can actually borrow against this performing loan, and expand their lending serives. If the $10,000 loan is paid down to say, $7,000, the bank has recovered $4,700. So, it loss will be $5,300. But, if the bank keeps the 'defaulted' loan on the books, it will have now show a $10,000 face value in the 'liability' column. This means that their assets have actually shrunk $15,300! So, when the loan is discharged in bankruptcy, the creditor regains $15,300 off of the liability column and their borrowing power and ratings go back up.
It is not the most desirable way to do business, but in the event of a major financial downturn, this method of discharging debt is one way to reset the financial clocks. And boom, the system gets recharged and moves forward again.
You continued,
Society, too, was more docile and governable.
Baloney! Far more people owned guns per capita, and people were far more stubborn and independent of government. Also, there was far less government intrusion and control in people's lives, as they would never have allowed what has evolved today.
You continued,
Hence, we see pictures of gaunt and desperate men standing patiently in soup lines to get their daily ration.
My dad stood in those lines in Chicago. They had little choice. And I recall my dad saying that the public, the average American was determined to build an economy that would never go hungry again. And so far, they have succeeded. And other nations have benefitted from the worldwide economic growth since then. Likewise, since Communism is discredited, and the Soviet Union is gone, the Russian Republic and other former Communist nations are turning to Western Capitalism for recovery. It is a long road for them because so many theories, philosophies, and attitudes need to change. But, if they stick with it, then their economies will one day be booming and help stabilize the planetary economic system. Eastern Germany is starting this rebound with help from western Gremany since their reunification. Likewise, Poland, and others are doing well.
You continued,
That would never happen today. The cities would go up in smoke if people miss the next meal.
I totally disagree! First, Americans are far more patient and committed than they are given credit for. We fight and debate, but when a crisis comes around we stand together. The Gulf War saw this happen. And, while it did not have time to take effect, you may recall that then President Bush put us on a war time economy. This meant that he could rule by decree should supplies become short and the war needed more time. As it was, the overwhelming firepower of the western allies won the war in 40 something days.
Second, Americans are NOT about to let themselves starve because of some economic rumblings or Lyndon LaRouche prophecy. Let's assume that our banking system collapsed. Then what? Bartering would beomce quite normal very fast. Yes, there wuld be some government bail out, maybe a few soup and bread lines in major cities. But, humans, regardless of nation, are resourceful and determined to survive. It would be a shock, and there would be serious problems, but we have the balls to get through it and rebuild. There is too much historical precedent to show that this would be the case.
And most of all none of this has anything to do with Bible prophecy or WTS speculations ot your own speculations. It has everything to do with the human species surviving, and as long as this planet revolves around the sun, rotates on its axis, and the ecosystem supports life, we WILL survive. - Amazing