Is the economy going heading towards a depression?

Question

gas prices are going down, is this only for a small while, or are they going to get higher again along with food prices?

Answer 1

While it's very likely the economy is already in a recession (or very close to one), it's very unlikely we are headed for a depression in the next year or so.  Depressions typically happen when there is a complete colapse in the economy on a grand scale.  There is certainly stress and much overdue corrections happening in the economy, but by no means anything close to a collapse.

Now projecting out 100 years or more, yes, you can be quite certain that we'll hit another depression.  When is much harder to predict.  It probably won't be in the next 10 years, but likely will be within the next 100 years.  One possible future cause of a depression is the increased interdependence of nations on trade with each other.  Nations depend on each other for food, supplies, technology, labor, etc.  But there is no global government to help stablize and preserve confidence in this trade.  So when the inevidable excess and overspeculation occurs, the usual "stablization" mechanisms may be insufficient to stave off a global depression.  And as usual, that depression will help herald in the next era of reform.

Answer 2

I believe it has too. people have been living beyond their means for to long, were in a type of war that shall never end, and we fail to accept the fact that we need alternative transportation and utilize wind and solar energy as well as learn the true meaning of conservation and personal sacrifice.

Answer 3

More like falling toward one . There is so much bad worthless debt not reported yet . That's the killer for this economy .