Another Great Depression?

Calvin

Calvin

In Hazzard County
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Dissident Voice : “Are We Headed for Another Great Depression?”


I'd like to hear some of your opinions and POV whether we will see another Great Depression in the future? We have seen some quite a lot of foreclosures and American getting behind in a huge debt because of overspending in war in Iraq and Afghanistan.

I predict that it is possible that we would face another Great Depression like it happened in 1930's. What do you think?
 
Well, they basically reformed everything about economics after the Great Depression. They even took measurements to ensure that something like that would never happen. But again, never say never.

It can happen again.
 
once ron paul is in office, we will have a market crash. this is the result of literally removing government intervention in the market. but this is exactly what we need to rebuild our economy again. this is a good thing. just "hang it in there" and we'll do fine. scary but necessary.

or if you prefer, have any one of those corporate-owned candidates that'll worsen the economy and put america at its knees. hey, your choice.
 
Great Depressions always happens and it never really a great feeling. The great depressions been going on for years. But I am sure it get much worst over time before they can get better. All I can do is pray that we will have less great despressions near the future if that possible.
 
GarnetTigerMom said:
Great Depressions always happens and it never really a great feeling. The great depressions been going on for years. But I am sure it get much worst over time before they can get better. All I can do is pray that we will have less great despressions near the future if that possible.
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What you are referring to would be known as a recession. It's not the same thing.
 
Economy--takes a ride, up and down...up and down...'til it crashes. Then it'll regroup and restart once again. How it'll all measures up to is anyone's guess.

Therefore, it's more likely to happen again.






~RR
 
Possible... Doubt it... but it could happen... it always get worst before it gets better. I live in Florida so the housing market is outragious. People are foreclosing left and right, leaving, dropping like dead flies. They could not afford to stay in the market with the insurance and the taxes skyrocketing.. Hurricanes had alot to do with that.... I thought price gouging was illegal.. guess not to the insurance companies and government agencies. I'm a home owner in Florida and we are just barely keeping our head afloat with insurances and taxes.

Gas prices are also outragious...need to seriously invest in the Hybrd cars. If the Car companies quit bowing down the the oil industries and not be bought out, and do a mass production of hybrids and reduce the cost of their vehicles mabey we can outdo the oil industry..
 
Banjo said:
Well, they basically reformed everything about economics after the Great Depression. They even took measurements to ensure that something like that would never happen. But again, never say never.

It can happen again.
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Quite true. I think the goverment has weakened those measures that are intended to prevent the Great Depression and the current trends like foreclosures and wild spending in Iraq concerns me. Where I live, we're being hard hit by foreclosures. House prices have been going out ot control and it's likely the bubble is bursting now.

That said, it's not too likely we'll have another Great Depression but it could happen despite our safeguards.
 
By deafskeptic
Quite true. I think the goverment has weakened those measures that are intended to prevent the Great Depression and the current trends like foreclosures and wild spending in Iraq concerns me. Where I live, we're being hard hit by foreclosures. House prices have been going out ot control and it's likely the bubble is bursting now
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well said..:
 
Great Depression ? I am not 100% exactly sure, but I am aware of " cashless society " that we are heading. We will never see the money again - except for National ID card, or some kind of device under the skin, and so on. People will sell their souls for food and everything. It has to do with power, control and money.

I am hoping that I will not be there when it happens. :)
 
Can you imagine a depression now....with how society is .. Riots, robberies, people shooting people for food. Scary thought. Hate to say it but when people become desperate they become violent. Hurricane Katrina showed us that.
 
Banjo said:
What you are referring to would be known as a recession. It's not the same thing.
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We all know that the great depression has central place in twentieth century economic history. In its shadow, all other depressions are insignificant. Whether assessed by the relative shortfall of production from trend, by the duration of slack production, or by the product-depth times duration-of these two measures, the Great Depression is an order of magnitude larger than other depressions, it is off the scale. All other depressions and recessions are from an aggregate perspective (although not from the perspective of those left unemployed or bankrupt) little more than ripples on the tide of ongoing economic growth. The Great Depression cast the survival of the economic system, and the political order, into serious doubt.

I know that somewhat the great depression have always falls on hards time which is a nightmare. I guess it started in the early 1920's or way before that time. It is helpful to group the explanations for why Depression-era unemployment was so high and lasted so long along two axes: there are two candidates to take the blame for the persistence of unemployment during the Depression: the government, and the market.
 
Washington state has gone thru recession from 2000 to 2004 ish....now the economy is booming out of control. I think the real estate much of the nation is in recession due to the housing bubble.
 
sequoias said:
Washington state has gone thru recession from 2000 to 2004 ish....now the economy is booming out of control. I think the real estate much of the nation is in recession due to the housing bubble.
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I have to agree with you on that also since I have watched the news on lot of homes are being taken away from home owner and the economy is getting so out of control with the real estate businesses. They have now charged homes that cost so much higher then they used to be. Home around here used to be charged like $60,000 to 100,000 just for two to three bed room. Now they charged home like 200,000 to 2 millions around here just for 2 bedroom or 3 bedroom. I think real estates business have gone way too far.
 
Yeah Thank God we have an Escrow account so we can make sure our taxes and insurance is paid every year. I live in Florida and the housing industry has bombed out and they are now selling houses cheaper than ever. Bad for real estate business, but just because the houses are selling cheaper doesn't mean the interest rates and other charges will not drown you. We are busting our butts to keep our home and 5 acres. A lot of people have sold their homes and moved out of Florida to places where homes and taxes are cheaper.
 
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