Could the USA go through another depression?

Question

If so, how do we prepare, individually, as families?

Answer 1

HELLO?!! it already has!

Answer 2

Yes, but it is unlikely in the near term.  It isn't anything you could prepare for anyway.  A depression is a recession with deflation, in other words prices are falling not rising.  Think of $2 per gallon gasoline as a national problem.  You cannot prepare because it is much like Russian roulette, the person getting hurt is a random victim.

The only real risk, at the moment, of depression would be triggered by the US not reforming its benefits system.  If the United States does not reform social security, Medicare, veterans benefits, civil service benefits and the military, then the risk is real as the boomers retire.

Answer 3

yes, and all the citizens may have to run to india and china.

in serach of food and employment.

Answer 4

No not on the scale of the great depression.  The creation of the Federal Reserve system prevents massive bank failure and the stock exchanges have safeguards that shut down trading in the event of a major loss in a given time period.

Thats not to say that a major recession could not take place, but there will be no bread lines and massive wide-spread unemployment like were seen during the 30's.  

Whats happening right now is the prelude to a real recession which happens every 10-20 years.  The last one was in the 1980's.  The economy is cyclical and will pull out into another boom within 5-7 years or so.

Answer 5

my trible already has. you know eddy sam right. well he lost the choctaw tribe hundreds of dollars. now we won't get our 500 dollars for summer. he shot i MEAN SHOT a guy who dated his girl. so now we arew dirt poor lucky you

Answer 6

Be patient and stay calm.  These things are cyclical.  You just have to wait it out.  In the meantime, there are still some common sense things you can do.  

Don't take on any additional debt, and minimize your fixed expenses.  Reign in your consumerism, but stalk the sales.  Save any money you can because, cash buyers have a lot more leverage during tough times.   Buy it tomorrow, instead of getting it today and then paying for it tomorrow

Go generic with the food, or start a garden.  Car pool, or have the kids ride a bike.  For entertainment, rent DVD's or who knows, maybe there actually is something good on TV.

Answer 7

From what is happing now yes. currently the economics of gas fueling is going into the tubes i am guessing we might go through another great Depression soon well not soon as in a year or so but maybe a while if something does not get fixed soon the best way to prepare is save your money and make sure you keep your job as individuality go's so there is a very strong possibility that this might happen because we are living in  a false sense of freedom.

Answer 8

Not as bad as the great depression.

partly because we know alot more about economics to repeat the mistakes that led to the great depression

Sure we will get the odd recession

Answer 9

maybe but it not happening now. But this is a preview of how it could happen.

Answer 10

no now that we have a new and knowledgeable president we should be on our way out off depression mode even though i thought Hillary should be president Obama will do