Are we really going into another "great depression"?

Question

some people say no some say yes. idk who to side with.

Answer 1

Yes, I truly believe we are headed for some very rough financial times. There are many factors that lead me to this conclusion. The mortgage crisis is a leading cause, low savings, heavy debt carried by the America people, inflation. Look at the American auto industry we may not have an industry in the very near future. Too much speculation in the market, I think the 401's and the mutual funds are next on the hit list.

Answer 2

The USA is broke but if we get Obama in office we will have a person who was not born rich like McCain a son of an oil heiress. The good thing about this is Obama has had to climb the ladder of success so he has really good skills at the practical & spiritual parts of this. He is surrounds by others who have also lived rags to richs stories. So there is hope so no point in worrying about it.

Answer 3

Yes!

We are all facing global crisis in food, fuel, and environment.

Many are dying because of extreme hunger. Almost all the nations of the world suffer from insufficiency in rice supply. How can one live decently if we there's no food on the table?

The indispensable rise in fuel prices hit us. It seems that we can't do anything to stop it from escalating. This has increased the prices of every commodity and costs of labor and other service.

Finally, global warming has affected us badly and threatens to  erase human civilization.

We are now in a great depression!

Answer 4

I dont think this will be as bad, but it will be like the 70s which were tougher times than the last 20 years.  High inflation, interest above 10% etc.