Economics: The great depression?

Question

In 1929, there was the great depression. Do you think we'll have another depression soon? What causes it? If we have another depression, wouldn't prices on everything including gas drop? What would be the positive and negative effects? Sources?

Answer 1

What we're in is a recession, not a depression. No we won't have another depression soon. The Great Depression was caused by inflation and a massive sell out of stocks. No prices of gas would not drop. Also, even if it were to drop, a vast majority would not be able to afford it. There are no positive aspects of a Depression what the **** are you thinking?? It's called a ******* Depression.

Answer 2

wow. How uneducated you are. In a depression, the price of gas would be higher coupled with inflation. The depression was caused by a panic that caused everyone to sell their stocks which ultimately caused the stock market to crash. What we are experiencing presently is called a recession which is partly caused by OPEC and our gov.'s bad choices.

Answer 3

What happened to the country during the Great Depression will not happen again.  The country at that time had no social security, no unemployment insurance, no welfare etc.  There were no programs to take care of the people in the event that something like that would happen.  Also FDR introduced FDIC, which insures monies in banks.  People would not have to hide their money under the mattress or bury it in the backyard for the fear of a bank closing it's doors.  

Your question was a good one, pay no attention to someone who has to make remarks like that last person did.  

It obviously says more about him/her than anything else.

Hope this helped a little.

Answer 4

The stock market is not an economic indicator. Case in point: black monday (1987), when stock markets had the largest single day percentage decline in history (around 22% in the U.S.) with no noticeable impact on the overall economy.  Since gas prices are causing a good portion of the economic slowdown in occurrence, gas prices will remain high until demand is sufficienty decreased (which will probably never happen with the huge amount of oil being taken by India and China).