Do you think our country will be in for the next Great Depression?

United States
July 6, 2008 1:27am CST
With the economy going downhill, and unemployment rising, do you think that there will be another Great Depression like there was back in the thirties? I think we can expect it or something similiar unless we change our government and the American citizens stand up to the government and say that we are not going to take this anymore. Rising fuel costs are hurting families everywhere, poverty is on the rise.
3 people like this
11 responses
@pukaprat2 (442)
• United States
6 Jul 08
there are way too many signs that point to it going into a depression. there are also signs that say that we are living in the end times. as far as i am concerned, it doesn't matter if we are or not. what is going to happen is going to happen. and there aint anything we can do about. this world is rapidly changing. its like the icecaps- yes they are melting and when they are gone, i think we will find atlantis under the ice of greenland. but that is just a theory. one i am sure we all will find out in the next few years.
1 person likes this
• United States
6 Jul 08
A depression? Sure. But nothing on the scale of what the 30s were. The US is just too strong to let it happen.
1 person likes this
• Alexandria, Virginia
7 Jul 08
yes but the depression is going to much worse
1 person likes this
@spalladino (17926)
• United States
6 Jul 08
No, this country will not experience anything even close to the Great Depression and I doubt we will even get to the approximately 19% unemployment rate that was hit during the last recession in the early 1980's. There are federal programs in place that insure the money we have in the bank, both persoal and IRA accounts, so no one has to pull their money out in a panic. The US stock market is diversified with the international markets and many American's invest in the overseas markets, so a total crash is not possible. There are also many federal, state and local programs in place to assist families and businesses during hard economic times with financial, food, housing and educational assistance. I do agree that the people in this country need to send a strong message to ALL of our representatives that our dependence on foreign oil must be stopped. There are too many other options available for generating power to run homes and businesses; nuclear, solar, wind and the clean burning of coal. Alternative fuel for automobiles needs to be more readily available, carbon cell technology needs to be further developed as well as battery technology. Meanwhile, the oil we have already found and capped off in Alaska needs to be brought out of storage. U.S. owned businesses who choose to operate overseas should be severely taxed. The U.S. is a strong country and, no, we are not going to collapse under the thumb of the greedy OPEC Mafia. We've had it easy for too long, and hard times are a fact of life that many have never experienced before, but we will overcome them. Making your voice heard is one thing that all of us are capable of doing and too few of us are taking advantage of that. Write, email, call your state representatives and let them know that if they don't start looking out for the people who put them in office, they won't remain in office.
1 person likes this
@wisedragon (2330)
• Philippines
7 Jul 08
If we continue to rely on oil, its price will shoot up even further. Then we will no longer be able to afford transportation. The economy will grind to a screeching halt. Businesses will close. People will lose jobs. But if we shift to alternative energy, there is hope.
@shlooper (309)
• United States
8 Jul 08
I think we are headed for a recession, not a depression. However, when we pull out of this recession it will be different than others in the past. America will no longer be on top. The housing market was just a bubble breaking, this has happened before. Recession is a normal part of a healthy economy. America needs to make a lot of changes in regard to our economic, energy, and other policies, and I hope that this recession will be a catalyst to make those changes.
6 Jul 08
I think the US is done as the #1 nation and we are headed towards a depression. Our dollar keeps sinking, our trade deficit to China keep growing, our meaningless wars keeps going, we are basically bankrupted. Don't know if there's anything really to do about it. I'm trying to see if I can invest in foreign companies and currency.
@tigertang (1750)
• Singapore
6 Jul 08
I think the signs that American economy is in deep trouble are quite obvious. The reasons for this are also quite obvious. Contrary to what Americans may have been told about everything being China or the Arab world's fault, the problems with America come from the fact that too many people in America were spending more money than they were making and banks were more than too happy to lend reckless ventures more money than they should have. If the Chinese and Arabs are too be blamed for anything, its not for making things or high oil prices, but for continuing to support this credit habit by buying US T-Bonds. America has a trade deficit because it buys things from China, which in turn buys American debt to help Americans continue spending irresponsibly. But as Bill Clinton used to argue - there's nothing wrong with America that cannot be fixed by America. While many Americans will disagree, the USA does retain many advantages in the world today. China may one day overtake the USA as the biggest and strongest economy, but in the mean time, the USA is still top dog and will have a large say in how China develops - hence the USA will be a number two that influences the way the number one works. America has a working legal system, which is better than anything in China or the Middle East. It's financial problems looks small compared to the bad debts of the SOEs in China, and most importantly, I think America will remain top dog as along as it remains the place where any clown from any part of the world can come and succeed. Although America has had some dreadful governments, American people have proved to be innovative and resilient and more importantly, the rest of the world comes to America because they are allowed to be innovative and resilient - first it was the Europeans, now its the Latinos and Asians who are helping drive America. So, yes, America will probably need to enter a period of harsh economic times. But I think if the American people have their way, the nation will be making a pretty darn strong come back.
• United States
6 Jul 08
Honestly though, what kind of government do you propose. Changing a few senators won't do a thing, and one man as president definitely won't. So, what? Revamp the system? Go commie? I'm not making fun of you, I'm serious.
• United States
6 Jul 08
Sorry about the question mark I left out.
• United States
11 Jul 08
sdmoonchild I think if we do not start reversing the events that are leading us into a recession we could very well be headed down that path. As a nation, not only our leaders but the body as a whole can not fall asleep at this critical time in our history.
• United States
7 Jul 08
Hi, Yes, I believe that we are headed for a time that will be worse than the Great Depression. God bless leofa
• Canada
7 Jul 08
I don't live in the States but I know if the US goes into depression so is Canada.I know that is not the only thing that is going to happen either.The big guys in the world are going to lose their money powers over the world too.They are going towards there already.Why do you think Monsanto is using our food to control us?He has already patented his seeds and is contaminating the rest of the words food supplies.Who knows what the GMO seeds are going to do for our crops.I know this does not sound like politics, but politics is what giving the big companies power to control us.Unless people wake up to all the lies then that's what's going to end the world for most people.Not all because some people have woken up already.You want to control people and use them as slaves,just take away their food.
• United States
6 Jul 08
Another depression like that of the 30s is impossible. Another depression unlike that of the 30s, however, is already happening.
@shaggin (36364)
• United States
6 Jul 08
It scares me because I really do feel we are starting into a new era of the Great Depression. Prices are getting higher and higher and wages arent getting any better so people who make minimum wage or are diabled are literally going to wind up going without food and the basic necessities they need just to pay for heat for their homes and fuel for their cars to get to work. The rich get richer and the poor get poorer. You have to make a lot of money every day in order to be able to live comfortably right now with how high the cost of living is becomming.