Great Depression in the 1930s Vs Today. Read what Goldman Sach's Founding members thought about it 7

[AsifAmeer]

Quote from WALTER SACHS, a founding member of the Goldman Sachs Partners

Now compare what we have today.

• Cheap credit (Federal Reserve's ZERO Interest rate policy)
• Tax Credits on Home-ownership.
• Over-Leverage (that is why banks failed in 2008)

Compare his thoughts why they wouldnt see a 1929 crash in 1950s

• Growth in population
• Suppressed Consumer demand coming out of WW2
• Debt had been recently wiped clean so there wasnt a big debt load in the 1950s.

Funny thing there is no case to be made for population boom. There is over-consumption today. And there is HUGE amount of debt that is being hidden on bank balance sheets today.

 

[Temojin]

Before commenting, do tell me if you know Aqeel Dhidi (you must)? Multiply him by 100000 and you get Mr. Sach's right? So they exactly know what they are doing.

The issue is if its going to be a plunge steeper than we can imagine or not? How do you see things there in Texas. Recently one of my mates migrated there and said jo bhi hai yaar amreeka hai naukri to mil hee jati hai.

 

[AsifAmeer]

I dont know Aqeel personally lekin his son was in school with me.. or wait.. I think he was going to the other school in my city. We were both in finance.

Yaar.. about 2 years ago the guy who was mowing my grass was a Senior network admin which was laid off. So yeah, job to mil jae gi.. lekin question is at what cost..

Salaries are definitely very depressed here. Gasoline is high which means if you're commuting longer drives to work, it takes a toll on your income. I personally know a friend who graduated in Chemical Engineer and hasnt been able to find a job in about 10 months now. He owes $55k in student debt.

Before commenting, do tell me if you know Aqeel Dhidi (you must)? Multiply him by 100000 and you get Mr. Sach's right? So they exactly know what they are doing.

The issue is if its going to be a plunge steeper than we can imagine or not? How do you see things there in Texas. Recently one of my mates migrated there and said jo bhi hai yaar amreeka hai naukri to mil hee jati hai.

 

[Temojin]

I dont know Aqeel personally lekin his son was in school with me.. or wait.. I think he was going to the other school in my city. We were both in finance.

Yaar.. about 2 years ago the guy who was mowing my grass was a Senior network admin which was laid off. So yeah, job to mil jae gi.. lekin question is at what cost..

Salaries are definitely very depressed here. Gasoline is high which means if you're commuting longer drives to work, it takes a toll on your income. I personally know a friend who graduated in Chemical Engineer and hasnt been able to find a job in about 10 months now. He owes $55k in student debt.

Oh! eik baat yaad kera di. I got out of a metro station in Moscow city, someone was selling eggs. As I was going with my cousin, the egg-seller started speaking in English (People took me for an american those days) and said if I could talk to him for a moment. He was a nuclear physicist (with proper work experience in nuclear facilities) and was interested to know if I could arrange a visa for him to the USA.

A business partner of my father told me that if I wanted to see actual high-tech military grade computer stuff, I was welcomed at his place and then only I found out that he was the chief of the program where computer systems for typhoon class submarines were designed (before him entering in business after forced retirement). to job to mil hee jati hai aur kaam bhi but its a pity that educated people get into this rut.

 

[AsifAmeer]

fcvking insane!

I have been very moved by 1 book... "When money dies". The author didnt share any views or opinions till the epilogue. Lekin it gets so clear in your mind how fragile human life and our way of living is in this post-industrial revolution.

The biggest threat to human civilizations is the human civilization.

Oh! eik baat yaad kera di. I got out of a metro station in Moscow city, someone was selling eggs. As I was going with my cousin, the egg-seller started speaking in English (People took me for an american those days) and said if I could talk to him for a moment. He was a nuclear physicist (with proper work experience in nuclear facilities) and was interested to know if I could arrange a visa for him to the USA.

A business partner of my father told me that if I wanted to see actual high-tech military grade computer stuff, I was welcomed at his place and then only I found out that he was the chief of the program where computer systems for typhoon class submarines were designed (before him entering in business after forced retirement). to job to mil hee jati hai aur kaam bhi but its a pity that educated people get into this rut.

 

[rahail]

Asif,

How about you coming to Pakistan and standing in elections with PTI? You can easily become a finance minister and I am sure you can steer this country in to the right economic direction. As you know, Imran Khan wants youth to come forward.

I also know that this is really hard for you. Since you are a U.S citizen and well-settled. But can you do something that'd benefit this country - at least give a solid roadmap or something that could be beneficial to this country.

fcvking insane!

I have been very moved by 1 book... "When money dies". The author didnt share any views or opinions till the epilogue. Lekin it gets so clear in your mind how fragile human life and our way of living is in this post-industrial revolution.

The biggest threat to human civilizations is the human civilization.

 

[AsifAmeer]

lol... If I come to Pakistan, there would be more fatwas against me than there are pages in the encyclopedia!

My services are absolutely free to any person, group, community, nation or group of intellect is absolutely free. Let alone Pakistan, Finance Ministers and Heads of Central Banks are a very limited number of people. You really think PPP or PML or PTI chooses their finance ministers? or the policy are really theres? Nah! All financial policies are made by the Central Bankers. I am talking about the US as well.

Its up to the people to educate themselves and refuse tyranny! We all have to pick our own fights. You have yours. I have mine. But we both are on the same side... just the different timezone!

Asif,

How about you coming to Pakistan and standing in elections with PTI? You can easily become a finance minister and I am sure you can steer this country in to the right economic direction. As you know, Imran Khan wants youth to come forward.

I also know that this is really hard for you. Since you are a U.S citizen and well-settled. But can you do something that'd benefit this country - at least give a solid roadmap or something that could be beneficial to this country.