Are we headed for another "Great Depression"?

Question

I sometimes think we are headed for a depression - or at the very least a very deep recession.

Energy costs are one of the biggest reasons for this.

How bad will things get?

Answer 1

If we were would it be called the "Even Greater Depression?"

Answer 2

well I'm depressed, I tell ya!  It's depressing going to my job on the bus and seeing all these lazy people getting free money, and free drugs and free kids to raise and free food...yikes!  No wonder we're broke.  Energy costs?  We got too much energy and not enough people using theirs.  They should get jobs so I dont have to pay their bills.    Too many softies just hanging around the courthouse every day waiting for their free stuff.  They give me the wild eye!

Answer 3

I keep saying this to those around me and they blow me off.. Maybe if we don't mention it, it isn't really there?? I believe we are already hitting that point. It's scary!

Answer 4

First, we are in a depression. Second, we will never have a depression like in the 30's. This is due to the fact that we have a very different economical structure today. This may come to a shock but Americans no longer own America.

Answer 5

I feel it will get much worse before it gets better. It affects what used to be called the working class. Now we are the working poor. I sometimes feel a little scared not enough money to buy the things I really need like health care! Gas, food, rent, ect. I have deep concerns for our young people. What the heck is going on! There not much to leave to you, when the older generation passes on.I know this don't answer your question, I don't think today anyone can say for sure. Just do your best, and plan on doing with out some much needed things.

Answer 6

We aren't headed for a depression, we may be headed for an interesting recession, but not a depression.  While it may seem like a recession, it doesn't fit the classical definition.  Energy costs are part of the problem, but we wouldn't be in such a mess if the financial industry hadn't gotten too greedy and blown up.  Things will get better, but it may get a little worse before there is some light at the end of the tunnel.

Answer 7

no things are not that bad yet

Answer 8

Recession = Two Negative GDP Quarters (ie: 6/Months)

Depression = GDP Declines 10% or More

Neither have happened. So folks need to call the current economic issue what it is, a "Slow Down". Not a Recession or a Depression.

The US Economy is diverse and still growing, just slowly around 1% per year.