Recession? Depression? Passing Downturn?

United States
November 15, 2009 9:08am CST
Do you think this economic recession (or is it a depression) is just a passing downturn or something more fundamental to the welfare of the United States of America? * The Great Depression of the 1930's was a fundamental happening for United States of America that both changed the homeland and sent us into a second world war. The depression was global in scope, it had waves hitting other countries even harder than us. Germany was absolutely hammered, leaving it vulnerable to the charismatic and dangerous Adolf Hitler. * We have had smaller depressions and recessions that had not had such far reaching implications. The 1970's struggled through the long lines of a gas embargo while tempers fried. * Even smaller incidents of bubbles going pop will disconcert industries. (Dot.com anyone?)
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@surfette (674)
• United States
15 Nov 09
Since I live in a formerly manufacturing city that has lost all of its manufacturing, I would definitely say that this rivals the Great Depression. I talk to my mother (who lived during the depression) and because there were actually more ways for poor people to bypass the system then, it is actually more difficult in our community today. Unfortunately our city was built on a machine tool and fastener industry. The cities that have a diversified economy are already finding ways to recover. Our city has the highest unemployment in the state and the highest crime. It's a shame, because our city developers just don't have a clue about building our city back up. In fact, one of our local bank presidents said that this will continue to happen to our city unless we change our ways. For the last many years, our businesses were encouraged to pull up stakes here and do their manufacturing overseas. Without people going to work every day, the whole infrastructure erodes and the business owners eventually don't make money and the cities crumble from lack of tax dollars. What people don't realize is that the "middle man" working supports this country and if you take all the jobs away, you have nothing but wealthy and welfare. People are trying to look for alternative sources of income, making things for themselves and people that have never had a financial problem are on the internet looking for supplemental money. If and when we get our jobs back, we will survive.
• United States
17 Nov 09
Yes, people say the 'Mom & Pop' businesses that start up in garages no longer exist in America. That's Bull Droppings. They've moved from the store front to the Internet. Internet storefronts are cheap to start up, and cheap to dump if things go south in a hurry. Toys are huge. People are shivering in their britches over crappy Chinese poison toys. * http://www.intuit.com/ * Growing food is another option if you've a green thumb of any shade, even without a proper back yard. A container garden will do the job with empty coffee cans. Larger pots can grow potatoes. Or tomatoes.
@surfette (674)
• United States
17 Nov 09
You are absolutely correct. People are running businesses out of their garages and on the internet. They are using their expertise to work for themselves to survive. I think the government believes that we are all stupid because we don't have a lot of money, but that is false. We are in the midst of a "grass roots" revolution of people that are trying to find alternative ways to not only get by but to prosper.