Is the US really about to enter another "Great Depression"?

Question

I've heard, with our economy the way it is, that we're on the verge of a depression. Is that possible this day in age? How long could it be until we are in this "depression" seeing as we're appparently already in "recession"? And how long could it last. Is America soon to be so different it's unrecognizable?

Answer 1

I don't see a depression in our future, but we must begin to act more rationally as a nation.  We have to make intelligent investments in the right industries and infrastructure.  We have to stop waging expensive wars that achieve no useful result.  We have to remain strong, and invest in national defense, but spend more on education and research and less on bombing countries that are not true threats to our national interests.

One easy way to acheive these aims is to elect intelligent, centered politicians, who demonstrate a sound understanding of economics and the global forces that the US must thrive within.

Answer 2

It is not even close to what happend in the great depression. Its not eve the same concept. We are on the verge of a shallow recession. Unrecognizable huh, i guess that depends on what you view the US as.

Answer 3

if mccain gets into office

Answer 4

It's hard to remain hopeful...I think that it is very possible. We (including myself) are just not used to  "tightening our belts" the way our grandparents were used to. And our kids don't even know how to act without "extras" like cable, eating out...

Answer 5

Great question. The fact that America is about to enter another great depression is completely true. The gas prices are soaring because the middle-easterners are trying to prove to us that they can control our economy. I have a feeling that it isn't going to stop soon. Guess what, Prices for everything is gouing higher...But wages aren't. Likely we are going into a depression not as bad as the last, but still not a good thing. We may not even be the world power for much longer. Do you know chinese kids go to schoool for 10 hour days now? they are going to be smarter than us!

Answer 6

Well if Obabam a gets his windfall tax on oil, it will likely cause great negative consequences.