Are we heading into another great depression??

Question

jobs are being lost left and right. and gas prices are rising daily.....the economy is horrible. are we headed for another depression?

Answer 1

I think that we might be in a lot of trouble.  The future is grim but there is light at the end of the tunnel.  The u.s. dollar is not worth a lot right now but that is what you need to be keeping an eye on.  when it goes below 90 cents theyou need to be worrying.  All the jobs that have been lost (unemployment) will be hurting soon. if you think about it, the US has Lost over 2.1 million jobs in the last two years.  Those people are struggling to find work to keep themselves a float,  what is to be of the people graduating college and getting out of high school?  Where are the potential jobs for them?  That number increases every year.  Do I think we are in a depression?  We are on our way,  And none of the countries that we help are not concerned over us right now.  They see that when we weaken, then we can be beaten.  Depression won't be the factor then, it is when those countries go to battle us, is when we really need to be worrying. We as a country need to shut off the relief soon or we will be as poor as most third world countries and that scares me.  Our country right now is our worst enemy.  I know these are just my opinions and I am not try to persuade others but we all need to be helping each other out.

Answer 2

You're listening to the news too much. There's an election going on and the media wants to get Democrats elected.

Things were much worse during the Carter administration (interest rates peaked at a little over 20%, inflation was in the double digits, and the unemployment rate was well above 6%). If that didn't put us into anything like the Great Depression, today's economy certainly won't.

Answer 3

When US employers are shedding thousands of jobs a month in all sectors with no end seemingly in sight, and when housing experts advise us that the down slide in housing sales will last about two more years -

Yes!  We are heading into another great depression!

LO SIENTO!

Answer 4

The economy is certainly getting worse than before.  And if it continues to go in this direction for a long time.  Then indeed it will end in Depression, which is a very severe and long economic recession.

But how long the present trend will continue and whether it will get better or worse in the future is hard to say for sure.  And you can find plenty of economists who will argue that there is not going to be even a mild recession, let along a lengthy Depression.

Only time will tell which economic predictions are right.  But one good reason to fear that a Depression may be coming is the huge amount of debt everywhere in the Global Economy.  A lot of that debt is so big that it may be difficult to repay without drastic cuts in consumption by US governments and US consumers.

The repayment of these debts with interest may lead to an economic Depression in USA.  But a non-repayment of these debts by people and governments who declare bankruptcy may result in an even worse Depression.  Because lenders who loose lots of money may get so upset that they will loose their faith in the economy.  And they wouldn't want to lend or spend their money beyond their basic needs for a long, long time.