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Now Vs. The Great Depression: No Comparison! Count Your Blessings.

Reblogger Lizette Fitzpatrick
Real Estate Broker/Owner with Lizette Realty - Richmond KY 205403

In Kentucky, we aren't affected by everything going on across the country. Some in the media are saying we are in a depression.

Since I didn't live in the depression I can't imagine how that could be.

Most of us are accustomed to spending and doing all the things we want to dSave Your $$$o.

I was reading tonight in Activerain and came across this chart in a post by Mike in Tucson, AZ that compares the Great Depression to what we are going through now and there is no comparison.

This should cheer up my readers a bit!

Original content by Mike Jones NMLS 223495

Comparison of the present downturn with the Great Depression of 1929Paula Swayne (AR) in Sacramento wrote a post based on a Charles Schwab Co. analysis of today's economy, and she put a link to the Schwab article in her post. 

(Thanks, Active Rain, for making it so easy to communicate!)

I followed the link, and found this chart.  We ought to have stuff like this on billboards in every city in the nation!

Count your blessings!

I'm Mike in Tucson, your preferred Tucson, Arizona mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
Think of me as your Tucson expert.

Comments(14)

Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Lizette, well we got the Great Depression beat with the percent on the federal deficit. Other than that, there's still no comparison you are right.

Oct 16, 2008 12:42 PM
Lewis Beynon
CENTURY 21 Triangle Group - Raleigh, NC
Lew B Realty

Great blog Liz!!!  Let's put the nay-sayers in their place!!!

Oct 16, 2008 12:58 PM
Debbie Summers
Charles Rutenberg Realty - New Smyrna Beach, FL

Liz... Love the new pic, thanks for the reality check - the mainstream media wants us to be depressed.

Oct 16, 2008 03:30 PM
Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes

Gary - It made me feel better after I saw it in a chart like this.

Lewis - I agree!

Debbie - Thanks! I'm tired of being depressed.

Oct 16, 2008 03:32 PM
Steven L. Smith
King of the House Home Inspection, Inc. - Bellingham, WA
Bellingham WA Home Inspector

Lizette,

I was not there either but I had close relatives who were. Far as I can tell there is zero, as in no, similarity at all.

Oct 16, 2008 03:42 PM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon

Love it - I am so sick of hearing how bad things are - this shows that although it may be bad it has been worse.

Oct 16, 2008 04:07 PM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon

Love the new photo - you are a rock star

Oct 16, 2008 04:07 PM
C Tann-Starr
Tann Starr & Associates, Inc. - Palm Bay, FL

Lizette, that is very cool. Thanks for sharing this re-blog.  I gaven't seen this comparison until now. :-)

Oct 16, 2008 04:50 PM
Greg Gorman
John R Wood Properties - Naples, FL
Naples Florida Real Estate

Hi Lizette-

Thank you for focusing on the positive and this is a terrific post. It reminds me of one of my favorite new phrases:

Don't wait for the storm to end, learn how to dance in the rain!

Thanks for sharing & greetings from Paradise.

Realtor Greg Gorman & Team Paradise Logo

Oct 17, 2008 11:17 AM
Melody Botting
Broker Associate PenFed Realty - San Antonio, TX
You Deserve The Best

This is so cool!  So I guess the plans to take a vacation are still on.

Oct 17, 2008 11:21 AM
Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes

Steven - Thanks for stopping by to comment.

Thesa - Im tired of it too. I'm still on my news fast.

Carolyn - What? Something new for you! LOL

Greg - You do live in a paradise! Love Naples.

Melody - You have my blessing to go on vacation. GO! 

 

Oct 17, 2008 01:01 PM
Cheryl Powell - The Powell Team
Southern Homes of The Carolinas - The Powell Team - Harrisburg, NC
Concord,Harrisburg & Charlotte NC Area Real Estate

Hello Lizette: That chart is great, things could definitely be much worse!

BTW, thanks for commenting on my blog post.  See you in the RAIN.

Oct 17, 2008 01:56 PM
Michael Mullin
Advantage Mortgage Inc NMLS 1770599 , Originating loans in CA, OR and WA. - Bend, OR
NMLS 11911 - Loan Originator, FHA, VA, USDA, Conv

Lizette, I agree that it  seems we are no where near as bad as it was during the Depression - at least based upon what I read....However, the distinction that I feel is missing in the media is how LITTLE deterioration was necessary to cause all this headache.  Home loans typically have a default rate of less than 1% and the current rate is up to about 6%.  How is it that the financial world could be on the brink of collapse when ONLY 6% of all home loans are in default???

The answer is in the fact that during the Depression large corporations could only invest in other ventures or lend money to other entities with funds they actually possessed.  Today large corporations are borrowing money to lend or invest.  That's why such a small swing in financial fortune is driving companies out of business - they have no REAL money!!

Oct 20, 2008 06:04 AM
Celina Gleason
AgentOwned Realty - Manning, SC

Kudos to you for such a great post!  My favorite saying this year has been this:  "Every day ABOVE ground is a GOOD DAY!" 

Oct 20, 2008 06:22 AM