The Next Depression...?

Question

we are going through a different situation...we are going through inflation....which is the prices of food, life basically is increasing...do u think we are going to hit the next depression any time soon...with Gas prices nearly $5 a gallon....War.....etc...

What are your opinions?

Answer 1

Inflation usually goes way down before and during a depression, so I don't think we are heading in that direction.

Answer 2

yes, i believe we will see a depression.  the government can decide that they want to recall all the money and reissue currency.  the issue is that all the economic systems around the world depend on each other.  some think that the currency will be the same around the world. kind of like eurodollars now work in all of europe.  before they had french francs,  italian lire, dutch marks, etc. etc.  now just the EURO dollar for any country over there.

you are better off investing in gold or other precious metals.  the money will eventually have to be recalled to try to fix the debt .  things will be okay as we are in an election year .  after that , it's all gonna fall apart.  not good times in america.

Answer 3

In the 1930's people had a hard time finding necessities - food, shelter, clean clothing.

We are light years away from that. In fact, the problem is we have become so wealthy, that we have a long way to fall down.

Will it get to the point where American families are burning trash to stay warm? Going from church to church to stand in soup lines with their kids?  Saving the oldest kids torn clothing for the middle and youngest?

I highly doubt it. The sooner Americans figure out that ipods, iphones, oversized Mcmansion, nights out on the town and 9$ movies are counterproductive, the better off this nation will be as a whole.

As for gasoline, remember, it is not a necessity. For over 95% of recorded history, humans did not use oil for transportation.