Are we really headed for a depression...?

Question

because of oil and this recession?

is so, will it be as bad at the 30's?

i keep hearing different things from different people...

Answer 1

No, we are NOT headed for a depression.  We will be back on the upswing by 2010.

j

Answer 2

Mogolon Dude:

The debt is not what you said it is. It is around 9 trillion.

Answer 3

Although i believe we are in an economic crisis, i don't believe we will go into the depression.  Our president at the time (d**n, i forgot his name!) made "the new deal" to ensure that the great depression would never happen again.  But i do believe that we will be in a very sticky situation soon, in terms of money.   NOT like the great depression though.

Answer 4

you really need to study up and pay more attention to what is going on around you, please!  Apply your reasoning.

Our 9.4 trillion national debt is beyond our ability

The DemReps who were in congress thru all this won't even address this, yet it's the largest and only real issue of this election.

The Fed has been expanding the money supply which is making our dollar worthless, so everyone is at risk.

Not only depression, but economic collapse.  Those who don't "get it" are headed for disaster.

Therein lies your answer.

Answer 5

The amount of debt is 65 to 75 trillion dollars . We are borrowing 330 billion a month . The banks are covering up with the help of the gov on there 700 trillion credit swap debt that is worth nothing . In my opinion what's to come is going to be a 100 times worse .

Answer 6

I think that a depression is a stretch, but we are having some hard economic times