Beginning of a depression?

Question

Or are people just freakin out?

Answer 1

Already a depression.  The only difference is that people have credit cards these days.  But that's worse because it will lead to more debt and more inflation in the long run.

Answer 2

No, we are in a very severe recession, and any major world event could push us and the rest of the world into a depression.

Answer 3

I've been depressed for three years and you are just starting to say "beginning of a depression"? either you are slow or I've got a lot of years left with this depression... Thanks.. I'm really sad now.

Answer 4

I think it could be the possibility of a depression, but I doubt that it will happen. Americans will do what it takes to protect their way of life. Even if the rich peoples is narrow and conceeded.

Answer 5

We are at a finacialy weak period at this point in time. No one would consider it a depression at this point... we are in what is called a financial recession which isn't a depression. The economic recession is much more common than a depression and much more easy to solve. There is reason to worry about the economy but there's no reason to panic and freak out.

Answer 6

The answer is no one really knows WHAT will happen...

The trend certainly looks grim, but things are always changing

Typically what happens is something new and wonderful comes along, and it causes an explosion of economic growth

Like the tech bubble (which wasn't all bad) and the real estate bubble (which also wasn't all bad)

Many new and inovative companies were created by the tech bubble, they didn't ALL go out of business (Yahoo ring a bell?)

Lots of people have good paying jobs at Yahoo and the many other healthy companies formed during the tech bubble

Construction similarly provided a lot of new homes, which now can be had at a bargain. Although its causing a lot of pain now, the reality is, cheap homes are generally good for the economy, since people can now afford to live in nice homes for literally half of what they were costing just a few years ago.  The affordability  will have a plus to our economy at some point.

Alternative energy is a possibility, and will likely be the next bubble.  BMW for example has a hydrogen car ready for production.  So we're really not that far from potentially replacing some of our energy - if and when the switch to Hydrogen happens,  it would launch our economy back to much better times.

Drilling our own oil will also create tremendous job growth, as will the exploration and tuning the efficiency  of wind and solar

Its easy to get depressed about the future, but bad times come and go, along with good times.  Historically its just a faze, and it too shall pass.

But bad times are important also, Americans needed a wake up call - and I think they're listening now...

Glass is half full !