Does anyone think there is going to be another great depression or something like it?

Question

Everything seems to be going down hill so fast

Answer 1

I don't think so. since we aren't having a MAJOR, MAJOR, MAJOR war like WWII then i don't think we would get to that point.  we might get close but hopefully not close enough.

Answer 2

No, I don't, but people in the media would have you think we're going through a great depression.

The economy goes through cycles, and right now things are slowing down, but we'll get through just fine.

Answer 3

With this being an election year, and none of the candidates having a clue about the economy, I think we are looking at rough times ahead, but not as bad as the GD.

With the U.S. heading towards or already in the beginning of a recession, the last thing we need is higher taxes or the terrorists gaining control of the oil in Iraq.

This would be a small start towards righting the wrong that is going on.

If the government would allow the oil companies to build new refineries, drill in various locations, and stop pushing corn based ethanol, the price of gas and food would decrease along with the many other things with ties to fuel.

Answer 4

I have a feeling it will be bad and change the way we do things today. But in the end it will make humans come together.

Answer 5

Are you kidding?  We've never seen a housing market involving so many people and so much debt, including more foreclosures in the history of mankind.  The car businesses are feeling it now, and once the housing and car market feel it, the rest of the world will feel it hard withing 1-2 years.  To be honest, an economic collapse would result in a global catastrophe that could threaten the survival of the human race.  With a economic collapse or depression in this day and age would mean 10's of millions jobless or without homes.  Our economic output in full production only sustains about 500,000,000 people worldwide (without full production and industrialization in full utilization) we would have 6 billion people fighting to survive - that is mass cannibalism on a scale not even Satan could imagine.

Answer 6

Please, give me a break. You only ask this because you and your kind from your generation obviously have no clue what a depression really is.

my grandmother lived through it. She married a man just so they could both survive it.

People were literrally throwing themselves out of buildings when the stock market callapsed.

Her dad had a lawyer who ended up committing suicide, and his wife ended up freezing to death in their own home once he was gone.

Those times were bad. Think Grapes of Wrath, the dust bowl of oklahoma. NOW that's a real depression. According to the market definition, its not even a recession, you need 2 consecutive declines in growth, which i'll agree 6/10 ths is close, but still no cigar.

If anything, the tainted media and whiners have been talking down the economy soo much that people are believing it.

I'm not saying things are great, or that they haven't slown down, but there's a great deal of difference between slow times, a recession and a depression. Just look at the stock market, its isn't up and down due to real growth or real decline for the most part, its because of speculative buyers, earnings estimates and emotional buyers / sellers. but it is still moving.

They should make economics 101 a mando course in America

Answer 7

Possibly.   Add in all the problems we're having now, with peak oil on top of that and I see troubled times ahead for many.   It's impossible to keep borrowing money like most everyone in the country (and our government too) has been doing to buy junk from other countries and just expect to sell your house for more to pay for all the stuff.   Someday we'll have to pay all that money back, and if China and the middle east countries want it now, we'll be in trouble.    If we don't pay them, they can cut off exports of oil and really hurt us.   The oil in AK isn't going to last very long even if we kept it for ourselves.   Most likely it would be sold to China to help pay off our debts to them.   I'd suggest learning to grow a garden and pay off any bills you can.

Answer 8

no not a big great depression but a think there will be a lull in the economy for a few years more.

Answer 9

I think we will get close but we will have to hit bottom before we can climb back up again.

Answer 10

Why is this in the general environment section? I mean, unless we're talking about a really strong cyclone, I think "great depression" questions should be in the economy section.