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i think the trouble was, and is, that banks can stick a number in a computer for a $650 application fee and lo-and-behold - you have debt, they have a security. it's all onesandnoughts - fiat at it's best.

i imagine you would be right there - i wasn't alive then so i only have the basic-at-the-time economic data to go off.

march? cutting it a bit fine, no? i like 3 months personally.

my issue is banks pulling pins on quality businesses with a tiny bit of debt or over-exposure, revaluing their assets, taking 50% off and saying "sorry, you owe us equity - we're foreclosing" and driving quality companies to the wall. this is happening to a lot of Gold Coast & Perth...

true unless you're george dubya :D i would be worried if Japan went under - they might revert to socialism - throw their hands up and say "thats it! we've tried this capitalist crap for over 150 years and clearly we can't grasp it".

that's my point Kenster. the depression wasn;t just fiscally, it caused a lot of other chain reactions, not the least being the second world war. honestly, who lets an artist with a perverse fascination for his sister start a right wing political party...?

agreed Kenster. however, the reality was that the second world war brought food rations, material rations, time rations ("blackouts for the war effort") incredibly tight lending criteria, men off to fight while the women laboured for 12 hour days making munitions. this is hard economic times...

technically? 1929 to 1933. reality? 1930 - 1945.

i also think people fail to note that the US Federal Reserve was in it's infancy and only had the Panic of 1907 to rely on for historical examples. globalisation is a huge factor in not only hampering efforts to revive the economies, but also in helping to revive as well.

these are all great posts. keep it up guys. i've said it before and i'll say it again - we are not weathering the 1:100 year storm here. the REAL depression is yet to come - think 2025ish. not now - not by a long shot. i call a huge bull market run in the next 10-15 years. unbelieveable...