Do you think the economy will change or will we see depression?

@Lucky12 (770)
United States
January 20, 2009 8:16pm CST
Well me personaly I cannot say. I will say this i think that the economy will change alot. I hope that we do not see another depression. With the banks and stores going bankrupt it is hard to even tell. Most busnesses are being bought out or all the employees are being let go, so let me know what you think and If you ahve experienced this then please share your story with us if you feel comfortable.
3 responses
@Caugh56 (58)
• United States
21 Jan 09
Honestly I think are economy will get worst before it get's better. But I do not see us becoming into a depression. I just feel as though people are going to cut back there spending in all different types of ways. And yes this may make more stores close because of it. But if they are build on a good foundation and they have money asside and not credit cards to stand on they'll be ok. I believe are economy came this way because people relyed on there credit cards to buy things they really can't afford. To buy houses they can't really afford and to buy everything they can't afford. ANd most people got use to it and are having a hard time adjusting and than are forced to adjust because of a job loss or a finance bind. But I truly believe this happens for a reason and I believe it's to show people not to waste money on things they truly do not need. As people we tend to believe more in material things rather than people. And that's what got us into trouble in the first place.
1 person likes this
@Lucky12 (770)
• United States
29 Jan 09
yeah thats true thanks for your post.
@Arkie69 (2156)
• United States
21 Jan 09
There has been some very large dominoes fell in the past few months and they have taken a lot of smaller ones with them. We are running in a closed loop now that is constantly growing. The more businesses that fall the more people will loose their jobs. Then the more people that loose their jobs causes more business to fail. The only possible way to break this loop is to create a bunch of jobs as quickly as possible. Hoover tried this bail out stuff at the beginning of the last depression in the 30's and it didn't work. The only thing that brought us out of that depression is government sponsored jobs and WWII.I just hope it doesn't take another world war to get us out of this one. Art
1 person likes this
@uath13 (8227)
• United States
21 Jan 09
We're most likely heading into one full speed. The whole worlds economy is collapsing. That's what happens when you build an economy on something imaginary like credit. It has no REAL foundation to stand on so at the slightest hit ( as in a sudden spike in gas prices ) the whole thing collapses. I have a feeling it will get worse before it gets better.
1 person likes this