Now they are talking Depression

@di1159 (1580)
United States
December 3, 2008 3:23pm CST
I was just listening to a report from the automakers and now they are stating that if they don't get a government bailout, the economy will head into a full-blown Depression. Do you agree or do you think this just might be a scare tactic to try and get the government to give them money? I was under the impression that we couldn't have a depression. What are your thoughts on the subject?
2 people like this
5 responses
@dawnald (84069)
• Shingle Springs, California
3 Dec 08
I don't know enough about economics to agree or disagree, I just hope that it doesn't come to that. Recessions are scary enough.
1 person likes this
@di1159 (1580)
• United States
3 Dec 08
I totally agree with you. I don't know much either, but I really hope it doesn't come to that. Thanks for your response!
1 person likes this
@snowy22315 (79588)
• United States
5 Dec 08
It is my personal feeling that we are already in a depression. I think things are going to get worse before they get better regardless of what happens with the automakers. This country is in a bad way.
@di1159 (1580)
• United States
5 Dec 08
Yes I believe you are right. An entire new slew of layoffs were just announced on the news. It's scary times we are living in. Thanks for responding!
• Philippines
5 Dec 08
i am not economist but i am not agree with that news. as of now we are facing a global economic crisis. that could increase more pressure to those country that having a big economic changes. i just hope that the government you told and the automakers can settle that issue.
@di1159 (1580)
• United States
5 Dec 08
I hope so too. If not, a lot of people are going to be out of a job very soon and that is never good news. Thanks for participating.
@uath13 (8204)
• United States
3 Dec 08
We're likely heading into a depression whether the auto makers get the bail out or not. The world's economy had become entirely based on credit. Once those credit markets took a hit everything collapsed. Even if the big auto makers get the money they're still going to lay people off. It's supply & demand & right now there's no demand for their products. They're not going to keep a work force to supply products that aren't selling. More people laid off = less money for those families to spend on basic necessities. That then cuts into those markets causing further lay offs & the ripple effect will continue What ever gave you the impression that we COULDN'T have a depression?
@di1159 (1580)
• United States
4 Dec 08
Back in the day when I was in school, and talking wayyyy back, lol, we were taught that the government had specific protections in place so that nothing like the Great Depression ever happened again..... goes to show that history really does repeat itself.. Thanks your opinion.
@hildas (3031)
3 Dec 08
I really do think we are heading to a depression. A full blown one. I have heard this from a lot of people that know nothing really but if they can see this like I can it will happen. Times are bad and I know they are going to get worse in the next couple of months. Sorry for being so down on the matter but I think we have to be prepared for this.
@di1159 (1580)
• United States
3 Dec 08
I appreciate your insight. I also feel that times will get worse before they get better. Hopefully we can weather the storm and get out of this mess. Thanks for responding!