Do you think the United States is going to go into a depression?

Question

It seems like everything is more expensive anymore but nobody is making anymore money. Will this lead to another depression or will a new president in office make a difference? I am really concerned for the future of my family and the country!

Answer 1

i think its going into a economic recession

Answer 2

"...It is hard for those who did not live through it to grasp the full force of the worldwide depression. Between 1930 and 1939 U.S. unemployment averaged 18.2 percent. The economy's output of goods and services (gross national product) declined 30 percent between 1929 and 1933 and recovered to the 1929 level only in 1939. Prices of almost everything (farm products, raw materials, industrial goods, stocks) fell dramatically. Farm prices, for instance, dropped 51 percent from 1929 to 1933. World trade shriveled: between 1929 and 1933 it shrank 65 percent in dollar value and 25 percent in unit volume. Most nations suffered. In 1932 Britain's unemployment was 17.6 percent. Germany's depression hastened the rise of Hitler and, thereby, contributed to World War II.

The depression is best understood as the final chapter of the breakdown of the worldwide economic order. The breakdown started with World War I and ended in the thirties with the collapse of the gold standard. As the depression deepened, governments tried to protect their reserves of gold by keeping interest rates high and credit tight for too long. This had a devastating impact on credit, spending, and prices, and an ordinary business slump became a calamity. ..

...With hindsight it seems amazing that governments did not act sooner and more forcefully to end the depression. The fact that they did not attests to how different people's expectations and world politics were in the thirties. The depression can be understood only in the context of the times. Consider four huge differences between then and now:"

http://www.econlib.org/LIBRARY/Enc/Great...

Answer 3

It may just be a repression.  I too am looking after the safety and future of my family.  Please, take the time to check out these sources.  Become empowered. Make your own assessments.

Answer 4

It will be a recession and not a depression.

Answer 5

No doubt the is a difficult time for the ole US of A, but a full blown depression is not likely  There are checks in place to see to it that that doesn't happen again.

It's still going to take some more time for the housing situation to level out, and the price of gas is a very big concern, but only congress can fix that by alowing more domestic drilling and the addition of new refineries.  We have more than 2 TRILLION barrels of oil reserves, we just can't get to it. ...  very frustrating.