Will there be another Great Deppression? I´m really worried, please answer.?

Question

If banks close, will people with money in that bank lose all their money like the first Deppression back in the 1930s?? Will there be long lines of people outside waiting for food from the goverment???? If we are going to have another Great Deppression, will it be as worse as the first one?

Answer 1

We may suffer a deep recession. We may even suffer one long enough to be categorized as a depression. But we will never see another Great Depression. The FDIC has insured deposits up to $100,000. And the government is willing to bail companies out of their financial distress just to ensure that consumer confidence doesn't dip too low (Bear Sterns, Fannie Mae, Freddie Mac). We, as a society, don't learn from our mistakes often, but we did learn enough to prevent another depression from being so severe.

Answer 2

The banks that are insured will be able to pay their customers back up to $100,000.00.  In some cases it would be $250,000.00.  

As far as a depression, you have reason to worry.  Some people are saying that if there is another depression it will make the first one look like a cake walk.  And as one financial analyst put it, "The fat lady is on the beach in a thong, she is done singing, she has a twinkie in one hand and an ice cream sundae in the other, and it is not a pretty site".

Answer 3

nope not a depression just a GREAT TRIBULATION which signals the end of the world and im sorry to say that your economic system will fail and all money will lose its value and will be lying around in the streets while you cry and ask yourself why u never listened to god.

Answer 4

untill you see food in our stores you should don't worry

Answer 5

Yes.http://greatdepression2.org/  http://www.globalresearch.ca/index.php?c...

Answer 6

There will not be another great depression.  During the 1930s there was little to no government regulations and controls in place to stop it.  Now the government has regulation in place to prevent it from happening.  If there is a run on a bank the bank can close for the day.  If the stock market falls to fast it will shut down to prevent a free fall.  If a bank runs out of capitol it can borrow from the Federal Reserve.  All accounts in banks are federally insured to $100,000 so if the bank did go out of business you are guaranteed to get at least $100,000 of your money back.

Answer 7

If Republians want to keep diverting the blame for the bad monetary policies of the Bush admin, we might reach a time where it seems like one.

Answer 8

no you will not lose your money because since then the bank has to back up all their money, I think your panicing a little bit too much, you would be well to at least research the laws that were made to prevent a another major depression.