Do you think we are headed for a.....

[mckenzygirl]

Depression?
Reason why I am asking is talk around our little town, mostly the older folks, are saying we are headed for a depression.

What say you?

[jeanette]

I'm not sure there can ever be another depression like 'the great depression' we are in a resession for sure. but the economy is sure depressing

[douglas]

The way prices of gas is getting who knows what may happen

[bscamo]

I think the "Big D" is a real possibilty.

[peachfly]

This is a really interesting topic. Just for kicks I googled causes of great depression and there is a bunch of info out there and no absolute answers. Hwr, i thought i would list several that were more widely discussed,
1. Stock market crash (reasons for it are numerous)

2. Structural weaknesses in banking/bank failures

3. Reduction in purchasing/over production and under consumption due to lack of income/unequal distribution of wealth in the 1920s/dramatic drops in demand & credit

4. American economic policy with Europe/tariffs on imports/disruption of trade

5. Drought conditions

6. Deflation in asset & commodity prices/postwar deflationary policies/money no longer back by the gold standard

It's easy to look thru this list and see several things that are happening today but the world is so different than it was 80 years ago so does it matter in the same way? I'm sure this is more info than anyone really wanted but i really enjoy history (some of it) and occasionally like to jump into it.

[Tonnymonk]

I believe that unless something changes- we are headed toward Depression. Sad, but true!!

[Deleted]

Yes, i do...........all the signs are in place. We have borrowed too much money to pay for this war and all the money is goin out and not near enough commin in.
It's gonna take alot of years for this country to get back on track.........so, be prepared to pay, pay, pay until then.

[hillsidedigger]

Even if the phederal governent gets the phederal budget under control

I expect the next 2 or 3 years will see a dramatic rise in unemployment/underemployment in America although the upper 2/3rds. of Americans will still be fairly prosperous.

If the federal government does not get the federal budget under control, I expect within 3 to 5 years for some sort of partial collapse of the American economy to occur although the storm might be weathered and not reach tha extent of the collapse of the Soviet Union.

Looking a little further out, 15 to 25 years, the effects of declining availability of cheap energy (Peak Oil) will radically affect the world with regional die-offs of people that will expand until the world drops back to some level of an appropriate number of people. The dieoffs will progress from Africa first to South and East Asia to Latin America.

By 25 years out, the world will be practically denuded of wild areas, topsoil will be gone, clean fresh water will be very scarce, the oceans largely ruined, the atmosphere completely altered along with their buffering/modifying natural systems so furthering 'human caused climate change' which will prompt the survivability of such few people in the world that few now can even imagine, I guess maybe only a quarter of a billion people but it might take a few decades after 25 years from now for human numbers to decline to the optimum maximum allowing the Earth's natural systems to recover and the survivors another chance to learn how to live compatibly with the world.

Depression does not even start to describe what's just ahead (and all this is assuming no wide scale military conflict events).

[GrannyG]

Recession is when you do not have a job.....Depression is when I do not have one.....LOL....I do not see how we will pull out of this....jobs are down, every thing going to other countries, gas is unreal, groceries continue to go up, feed goes up, production is down due to cost of fuel and crop failures...the bank is only paying 1 1/2% on money that you save, if you can save any. Something has to change, and quickly. People losing their homes, all the destruction lately, earthquakes, tornadoes, the poor people can hardly make it as it is.

[douglas]

Eve if we do have an average job we still get hit with things going up, even the market is down as far as selling houses

[bscamo]

Well , at least some oph us will be getting the Economic Stimulus Check.......

The ways things are going......

That should be good phor about 40 gallons of gas and 1/2 a bag oph groceries......

Help us Obe Won Kenobe.....You're our only hope.....

[douglas]

If he can't do it den no one can