Another Great Depression??

Question

Is it possible with the mix of oil, housing, world economy, debt, etc. etc.?

Answer 1

No, it is unlikely.  A depression is a recession with deflation.  We are in an inflationary environment.  If there isn't governmental intervention to defend the dollar, then a depression is unlikely.  It is very unlikely the dollar could be defended, so a depression is unlikely.

Answer 2

lol, it's possible with the self-induced medical expenses, pre-packaged and expensive convenience foods, uneccesary daycare, extravagant cars, standing beauty shop appointments, paper diapers, formulas, and all the other b.s. "must haves" that a self-centered and materialistic society drags along behind it.

i see carts full of Pepsi ,chips, and frozen dinners at my local supermarket, and the idiots are griping about gas prices while pushing them.

Answer 3

sit back ...relax.....its horse and buggy time

Answer 4

Oh yeah.  I think it is very possible.  The best way to avoid it would be to allow oil companies to start exploring again.  It's simple supply and demand.  When the amount of oil goes up, the price will go down.  The national debt really isn't as bad as the media makes it seem.  Even though the national debt can be somewhere around 6 billion dollars, the gross domestic product for the United States a couple of years ago was around 10 billion dollars.  It is a huge amount, but for a nation, we deal with huge amounts.  Besides, the national debt is nothing more than citizens investing in the economy.  However, I do think that to get back on track, the government needs to pull back and let exploration happen, let healthcare run its course, let the housing market fix itself.  The economy has a way of correcting itself over time if there is not government interference- like water seeking its own level.

Answer 5

yes,

we are at the beginning.

The world's economy need a big big change and it will happen in some years after the world's economies of today will collapse (by now us, uk, spain, italy [i'm from italy] economies are in troubles). we need a world economic government and we need that a strong world's authority prevent the sharks speculators of wall street to destroy the world to be richer

Answer 6

Times have changed since the early 1930's. We will never see another great depression. What we will see is a greater division of class. Which is taking place in the current depression.

Answer 7

It's gonna happen sooner or later. Actually, I vote for sooner. We're in a mess that money is only making worse. I see an economic depression as a pause to re-think our values. I think we're in a collective cultural and emotional depression and money can't fix that. We certainly can't fix it by playing global policeman.