Are we headed for a major Depression?

Question

If the Dow Jones Industrial Average falls to ZERO, will any American jobs be adversely affected?

http://news.yahoo.com/s/ap/20080711/ap_on_bi_st_ma_re/wall_street

Answer 1

ugh i picked the wrong century to be born in..

Answer 2

Probly...

http://answers.yahoo.com/question/index;...

Answer 3

Well, between high gas prices, job markets overseas and the crumbling morgtage business, looks like that's where we're headed.

Answer 4

Yes. And will our country ever be the way it was? I can't wait for Obama!

Answer 5

That's a good article because it relates the state of the economy to the price of oil. If you want more details, please query in your Internet browser:

"Hubbert's Peak Theory", or

"Peak Oil"

This morning the airline companies had come together to ask congress to crack down on oil speculation. I think that airline companies must realize that they are in a long-term no-win situation. They are trying to maximize profits (or minimize loses) over the next quarter. Their viewpoint is very short-term. Most airline companies are destined to go bankrupt, and it is in the short-term interest of the executives to pretend they don't see it coming.

We are already in a depression. We as individuals need to support our local businesses and shun the Wallmarts of the world.

The fact is, many companies will go bankrupt unless congress steps in. They are likely to help their friends at the biggest companies. This helps PROFITS, but it will be sold through the media as generating JOBS.

Personally, I'd like to see some greedy companies and their investors go out of business.

Answer 6

If we don't start drilling for our own oil on our own land, then it could happen!

Answer 7

no we are not headed for a depression, in order for the United States to even be in a RECESSION you have to have 2 economic quarters of a decrease in GDP(half a year).  Our GDP is still growing at 1%.  If the United States does go into recession, it will be for a short time.

Second, the dow jones will not fall to zero.

Answer 8

I just can't wait till Obama is President. Then in 4 years the whole US will be crying about how he got us into this whole mess, just like they blamed Bush for Clinton's seeds of destruction.

I hope not. But there are soooooooo many things we can and need and MUST do to ensure the welfare of the American people.

Answer 9

No, we aren't headed for anything adverse. The media is blowing everything completely out of proportion and our economy is growing right now, and sure prices are going higher, but so are wages slowly but surely.

Answer 10

No, we are headed toward the New World Order and some major drama.

Answer 11

sry but cant answer that im from Canada eh!!!

                                       LL

Answer 12

headING for a major depression lol xxxxxx

Answer 13

IT ALL LIES IN THE HANDS OF THE IRANIANS,ISRAELIS AND THE U.S. OUR ECONOMY IS CURRENTLY VERY FRAGILE, WHEN THREE MAJOR BANKS, FREDDIE MAC, FANNIE MAE AND INDY-MAC ARE IN SERIOUS TROUBLE ONE OF THEM INDY-MAC GONE BELLY UP THAT IS SCARY. THE IRANIANS REALLY DON'T HAVE MUCH TO LOOSE IF WE OR ISRAEL ATTACK THEM, BUT IF THEY ATTACK OR RESTRICT SOME HOW THE FLOW OF OIL IN THE MIDDLE EAST, WE WILL SEE THE PRICE OF CRUDE HIT $200.00 OR MORE A BARREL, WHICH WILL TRANSLATE TO WAY MORE THAN $4.00 AT THE PUMP. EMERGENCY SERVICES WILL SEVERELY AFFECTED, FOOD DELIVERY AS WELL AND THE LOWER CLASS EVEN THE MIDDLE CLASS WILL RESORT TO PRIMITIVE METHODS OF SURVIVAL.  WE SEE THIS IN MANY THIRD WORLD COUNTRIES WHEN THESE SERVICES ARE IMPACTED. A DEPRESSION IS VERY REAL AND IS REARING ITS UGLY HEAD. IF THE U.S FAILS TO SHIFT DIRECTION WERE IN FOR SOME ROUGH TIMES...

Answer 14

You know what?  i think that we are headed for a second Great Depression.  I'm even currently writing a song about it.

Answer 15

What we are going into is definitely not your typical, cyclical, downturn.   There are major issues with where we are heading and some fundamental things that our economy and the wealth of our nation is based on, such as:

Oil.   Need I say more?  Everything that is done under the sun, is done with Oil.   It is the lifeblood of the American Empire, and the economy lives and dies by it.

Wages.   They have been decreasing for all but the top 1%, while productivity has increased (due to technology).  Basically, it's the age old issue of the rich getting richer and the everyone else getting less and less.  This started with Reagan's tax cuts, was accelerated by Clinton signing NAFTA and has gone into overdrive with Bush's extremely pro-wealth policies (tax cuts, etc).

Most American's Wealth is based on the Bubble.   Housing, obviously.  The market is no different.  There is room for major correction given what our oil free future economy looks like.

Overextended Government.   Simply put....the USA is in deep debt and it's getting worse.   It can't afford to be in Iraq and 5 other places....it needs to focus on the homefront and start paying its bills again.

The Dollar.  We've lived in a fantasy world because of the power of the dollar...but that is starting to end.   When it does, reality is going to be ugly.  Thank the policies of George Bush and the huge debt our government has amassed for this.  

.......................

Don't buy into the argument that we aren't even in a Recession yet or that it's all part of our imagination....like McCain's campaign is saying.    They are saying this cause there is growth on paper.   The problem is ALL of that growth is going to a very few....the super wealthy....big oil, etc.    

Want to know the real situation?   Look down your street at all the foreclosures.   Look at how manufacturing jobs in America are extinct (we make nothing).   Look at all the layoffs coming up.

A major recession is a given, at this point, without the price of oil dropping drastically overnight.   I think a depression is very realistic, if not unavoidable.

Answer 16

We are not going to get into a Depression.  Nor are we officially in a recession.  Please stop worrying everyone.  I'm concerned and yes things are slow, but they will get better.  I've heard projections about the economy growing and things will get better.  This country has been through worse, MUCH worse.  We'll get through it again, that's my feeling.

Answer 17

may be yes or not

it is in the hands of the government

or

the citizens they could bring the governments down and bring the experts in the field of the government

Answer 18

if things dont get better I think we will, but I hope not. lets get Bush out and Obama in!

Answer 19

no, but i would save my pennies if i were you!

Answer 20

omg... i just read that article... i had no idea things were diving so quickly. I hope the new president will be able to turn things around, or else we'll all be in trouble :(

Answer 21

If all of the companies in the DOW are worthless, they will employ nobody. And if a giant meteor lands on earth, much life will cease to exist.

Answer 22

looks like it

Answer 23

Pucker has hit the nail on the head. One major thing he touched on is the falling wages. Never before in world history have we had high inflation, a stagnant economy, and FALLING WAGES at the same time. The falling wages is the one element that spells disaster for US. Its not just here...This is worldwide. Ive been converting to silver for some time to hedge against the inflation we are seeing and will continue to see for some time.