The Second Great Depression of 2009. Is it possible?

Question

Up until recently I said no way....but our financial industry is literally imploding before our very eyes. Don't believe it?...look at a chart of ANY bank stock. Look at Fannie and Freddie, look what just happened to IndyMac. Is this contained? I fear not but looking for someone to convince me otherwise. Thanks in advance.

Answer 1

Well a recession is possible as we see but the government has put many barriers so that another depression will never happen

Answer 2

I have spoken to some people who survived the Great Depression.  They said that no matter what the government and media try to tell us, they think it's looking worse now than it did back then - right before thier depression.  They say they've never seen so many economic troubles happen so fast!

HOWEVER, even though I agree that the government needs a slap of reality, there is only so much that a government can do to stop it from happening.  Some things they try to do will actually make it worse, like dropping interest rates, etc.

And NO our government can't prevent it and has only put so many fail safes in place.  A brick can't hold back a flood!

Answer 3

yea its possible.. very!!!!!!!!!!!!!!!!!

bush betta do something

Answer 4

I don't think it's possible but I think that the next 544 Great Depressions will happen all on the same day in 2012.

I don't really feel like putting on here how I came to that conclusion.  However when these 544 Great Depressions hit, the United States and all of the planet Earth will explode.

Answer 5

No, it won't happen. Step into the WayBack Machine and travel back in time to the 1980's and look for the great Savings And Loan Bailouts. S&Ls were collapsing all over the place because the bottom had fallen out of the real estate market and -- guess what they had done? No depression, Bush the Father bailed them out and just a lot of pissed off people who lost investments.

Blame the FIRST Prez Bush for that one.

Answer 6

It is possible, but unlikely to be of the same intensity as 1929.

The varying degrees to which the economy is effecting people is wide.....Those who hold significant positions in stocks and/or bonds are to be the hardest hit.  

Newly mortgaged homes which were mortgaged to near full value of the property have had issues where the property depreciated and can not be sold to cover the mortgage.  Can not be refinanced because the value is not there.

I believe that we are seeing a worldwide market correction.....Properties and stocks have been on a fast vertical ride.  I could not continue or NO ONE can afford to get a home or enter the stock market.

Answer 7

i hope we do have a f*cking depression. serves this country the f*ck right. our government needs a d**n slap of reality.

Answer 8

we are in a recesion we probably won't go into a depression though because of the new deal but if it did happen then a 2nd new deal wouldn't be as possible becaus the hole system is getting worse by the president hopefully Obama or McCain can fix it all or else we are finished

Answer 9

Yes, and the Fed gov is so much in hock, there cannot be a 2nd New Deal to bail us out!

Answer 10

I think I will disagree on another depression in 2009. Yes, the economy is not good with the housing market in trouble, credit crisis, the war, the trade deficit to name a few. However, during the Great Depression, cushions such as Social Security, medicaid, medicare and other government social programs did not exist.

Right now as bad as it seems, we are going thru a recession caused by many people borrowing money from their homes when the values were shooting up, paying for things on their credit card with money they don't have and in general not cutting back enough on things that they do not need.

Let's face it, gas will never go back to $1 or $2 a gallon, so we might as well conserve a little. We also spend too much on our credit cards, so use cash instead. These are a few examples to name a few.

I feel this recession is a 7 year cycle the way the economy was in prosperity for a 7 year cycle.

This will pass, so tighten your belts now for the bumpy ride.

However, the ride will not last forever.