Are We Heading Into a Depression?

United States
March 29, 2008 10:22pm CST
I sure could not handle that myself. I am sure at this rate we need to be concerned. Quote from article When economist Robert Parks predicted early last week that there was more than a 60 percent probability the current financial meltdown in the United States would lead to the "Bush depression," his phone began ringing like crazy with calls from the media. I know I hope the new president does something to help us out. I am hoping I can figure out who I am voting for soon. Bush sucks. http://abcnews.go.com/Business/Economy/story?id=4544872&page=1
6 responses
@kellys3ps (3728)
• United States
31 Mar 08
I am not sure if we are headed for an actual depression, but I am sure we are already in the midst of a serious recession. I hope something changes soon to fix the economy!
@dmillman (2273)
• United States
30 Mar 08
Well, it's looking that way to me. If you go by the old saying: "A recession is when your neighbor is out of work. A depression is when you're out of work." I'm out of work, so I'm seeing it as a depression. The outrageous gas prices aren't helping either. I'm with you on tryng to figure out who to vote for. I haven't been able to do that yet. It will be easier once we go down to two candidates to vote for, instead of the three. That's when we'll get more information, I think! To get back to the subject, it looks to me like we're headed into a depression.
@Thoroughrob (11750)
• United States
30 Mar 08
It looks that way to me. It is getting bad enough that I think we are going to see alot of families moving into houses together, and alot more homeless. People around here are losing their jobs left and right. Small businesses and the factories are closing in large numbers.
@jennybianca (12915)
• Australia
30 Mar 08
I have been concerned for a little while that the US is headed for depression. If the US goes into0 Depression, Australia will too. I think the Sub-Prime crisis was the last of a series of financial disasters in the US which may very well send a Depression off.
@winterose (39918)
• Canada
30 Mar 08
no matter who the new president is it is hard to undo the mess another government created, it is a slow process and doesn't happen over night,
@sedel1027 (17855)
• United States
30 Mar 08
I have read so many different things from different economist I am not sure any of them know what is really going on. I believe we will go into a true recession, I doubt a depression.