Are we living through an Economic Depression?

Question

Are we living through an Economic Depression?

Answer 1

Yes.

Answer 2

I would not call it an Economic depression.  It is more like a recession.  I do not believe it will last long for in todays market there is so much money it will be forced to come back.  We can blame the Liberals for that is exactly what they want.  They want us all to lower our standard and allow government to take over our lives.  They would like to CONTROL everything we do including our money... Watch and see ... can we see ANYTHING Pollosi and her Liberal bunch has done since taking over the Congress???? No and don't fret it will not be long B 4 the taxes will rise sharply.  That is another way they want to control us.  AMERICA AWAKEN FOR WE ARE LOOSING OUR FREEDOMS!!!

Answer 3

No, there has actually been slight growth lately. Borderline recession, not a depression.

Answer 4

well with the cost of living going up and the chance of living going down i would say so

Answer 5

As I have said elsewhere on answers.com, there is no simple formal definition of a depression. The Great Depression was called that after the fact since it was a worldwide decline in economic activity that was unprecedented in modern times. In the US, at the nadir of the Great Depression, unemployment reached 25%.  Unemployment today is 5.5%, and the economy has yet to show negative GDP growth, although that could very happen before the end of the year. The Business Cycle Dating Committee of the NBER will officially decide if and when we have had a recession. This decision may come after the recession is actually over.

Even though real GDP has not fallen yet, employment has been falling for six straight months. In the past, that has always turned out to be a recession.

Answer 6

We are not even in a recession, yet the liberal media has all of its little minions worrying about it.  If a Democrat were in office right now with the current economic conditions there would be no talk of recession.  

Hate to tell you even if the White House was occupied by a Democrat the gas prices would still be as high as they are.  I am waiting for the promised relief at the gas pump that Nancy Pelosi and Harry Reid said they would provide if the Democrats took both houses of congress.  All gas prices have done is go up not down

Answer 7

right now we do not have a depression, but we are sure heading in that directions. GM stock is the lowest it has been since 1950's, starbucks is closing 600 stores, which is loss of jobs, the car companies are not making as much as they use to becuase people are not buying like they use to. Banks are in trouble, bankruptcy problems, foreclosure problems it is terrible

Answer 8

We are in economic slump, but it could very well come back up.  And if doesn't get better we are more likely to go into a recession than depression.

Answer 9

i think so..............

Answer 10

I would call it a recession.

Answer 11

The truth is, it really doesn't matter what you call it.  It is what it is.

Answer 12

Yes and no. The market always fluctuates, and war can help promote an economy, as well as degrade it.

I say yes, but it is not a severe depression.

Depressions happen all the time, from trends, to wars, even because of things like lead in children's toys.

Answer 13

Yes,

Unfortunately we are living in a depression. If not now, we will be soon. Gas is about $5 a gallon, it goes up every single day. Grocery prices continue to soar. Starbucks is closing 600 stores. Many people are being laid off, in a variety of career fields. Everything is going so wrong, and I don't see how we can come out of it.

Answer 14

no we haven't hit the actual depression yet but with the rise of oil we will its actually funny history is repeating itself all over again oil crisis of the 70's ring a bell? we are currently in an economic reccesion.

Answer 15

Yep. You hit the nail on the head their chief!! ;)

Answer 16

currently no. maybe a recession depending on who you ask, but a depression would be a lot worse. The US had like .5% GDP growth last year. It should be around 3%, but with that growth no way a depression. You will know if we are in a depression. I dont think that this would happen after the Great Depression and the safety measurements put into place afterwards. Those who dont learn from the past are doomed to repeat it, but I think we have learned how to avoid a depression.

Answer 17

In America? yes! With gas at almost 5 bucks a gallon and cereal, almost 5 bucks a box??? that's just CRAZY!!!

Answer 18

LMAO!  We haven't even had a negative growth Quarter yet...so it doesn't even qualify as a Recession.  Stop trying to force the economy down!

Answer 19

For uninsured Americans like myself, a lot of physical ailments can be easily taken care of on Y!A.  However, some things; like inner ear infections, need antibiotics to heal quickly and properly, and the Internet has not freed us of this injustice yet.  Presently; to get this kind of remedy for infection in America, we must have money, or an indentured master.  If we are interested in freedom; then we should be allowed to take drugs at our own discretion, or else have a socialized health plan put into play.  I personally believe that speaking to a decedent of large wealth (DR.) is not always mandatory in curing our social and physical ailments though many of the chemical remedies they have the rights to, can be.  When an American can not afford (auto) insurance, his or her license is revoked for a lifetime or a $10000 fine.  I have documentation to prove it.  It happened to me.  Public Transit is not always an option in America, and with gas prices and food prices tripled in the past 6 years, I can see where many people may not be "living through the economic depression".  I am slightly anonymous and am unable to tell you if you are dying of starvation under the circumstances.  To be helpful to yourself, and millions of your fellow countrymen:  I feel that you should take your problem to rich man(Dr.) and ask him.  I realize that he is living fine, so you need to put emphasis on the word, We.  To answer your question:  I'm still alive, and I'm not going to die until somebody stabs me in my back, or in my sleep.  I've seen a lot of people who are not living through the depression, and I've seen a lot of people who are living large off of it like ******* vultchers.  In the 1920's Depression most of the vultchers went to other countries or remote areas of this one to live large while the majority was poor.  This time, wealthy people want to deny that there is depression (believing that they are the majority), and continue to publicly live in sin like Americans have been doing since world war 2.  This flamboyant type of behavior in the bourgeoisie during an economic depression and food shortage is exactly what spawned the French Revolution.

Answer 20

My mom keeps saying so

so maybe lol