When will the great depression no.2 start?

Question

When will the great depression no.2 start?

Answer 1

Cant be too long now...

Answer 2

The 1929 depression was caused by Woodrow Wilson's peace thready of Versailles (1919), when the then largest economy in the world, Germany, was destroyed.

Everybody suffered. To prevent that shortsightedness, the western allies left Germany after WW2 alone and let them rebuild.

Today, we have a totally different picture. The global economy is build on cheap oil. There isn't enough supply for the demand, alas the shaky last 10 years.

Europe has taken the lead away form the USA with its green politics and economy and if we don't get on the boat, it will be gruesome for us only.

Answer 3

Unless some unforeseeable shock hits the international economy, not anytime soon.  

Historical data shows that U.S. economy has become a rather remarkable creature since the end of WWII.  Historical trends show that expansions are becoming longer and more robust, while recessions are becoming shorter and milder.  

Just think about the "horrible times" we are experiencing now with the credit crunch, food inflation, high oil prices and the housing crisis.  While first quarter growth in 2008 was an anemic 0.6%, it hardly meets the criteria to even place the U.S. in recession.  Yes, the number may be revised several times in the next few years, but at worst history will record this time period as a mild recession, despite all of the shocks hitting the U.S. economy.

The U.S. is currently the largest economy in world, and despite gains by China and other nations, while likely retain that spot for some time.  The U.S. is internationally competitive, especially when it comes to R&D intensive products (all of the current Nobel Laureates in the sciences are U.S. citizens), and has a wealth of capital (physical and human), as well as labor.  On top of all of that, our best quality is our devotion to democracy and capitalism.

That being said, another depression is not likely to occur anytime soon.

Answer 4

were in it, it's the beginning

Answer 5

it already started! no kidding  not to far from now

Answer 6

It won't any time soon.  Despite the 'doomsday' predictions in today's media we have yet to even meet the definition of recession (2 quarters of negative GDP) let alone depression (10% loss of GDP).