Are you closer to Great Depressions?

Question

There are so much downturn in our economy..i'm really scared...it we are running to a another great depression....what do you think?

Answer 1

http://infoforu.public.pp.ru

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Answer 2

FDIC only insures accounts up to 100,000, so if you have more than that you better have multiple accounts.  But the really strange thing about economics and the state our country is getting in has a lot to do with consumer confidence and the self-fulfilling nature of economics.  If everyone thinks the economy is headed down the tubes then it will be because people will hold their money and less will be circulating.  These high gas prices have lead to some inflation(decrease in the value of the dollar) and they will continue to do so, but even this is better than deflation(increase in the value of the dollar).  If that occurs the value of peoples money will increase faster than any conventional investments would and people will just hold on to their money because they know it will buy more in the future.  We need alternative energy now to relieve gas prices, because the demand right now is too high.

Answer 3

The U.S. has been headed to a two tier economic society since the early 1970s.   Even some of the Clinton economic team kept describing the recovery as "uneven."  Meaning many were not really gaining in terms of real household income.  The basic story was there was no real demand for a large union work force.  Thus, the term "rust belt" has been with us for over 30 years.  The Great Depression you are concerned about is not a real fear based on the dynamics of our global economy.  Just will not have the large union work force of the 50s and 60s, and early 70s.  The information age makes the U.S. well suited to thrive.  Given the innovation that our best and brightest bring to work each day.  We have a high overhead in providing social services employment rather an simple negative income taxes for people who cannot contribute in the new era.

Answer 4

we will not have another depression. one of the biggest reasons  we had the first depression was because the banking systems failed. Now we have the FDIC so even if large banks do go out of business people's accounts are insured and they will not just lose their money.