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Do you think we are heading for the next 'Greater' depression ?

http://en.wikipedia.org/wiki/Great_Depression

for those who don't know about the great depression in 1930's-1940s

Think about it the cost of milk, bread, gas, the houseing market, cost of liveing, etc.... is all way to high. any looks like it will get worst before it gets better.

The question is Do you think we are heading for another great depression ?

Update:

i'm not panicing........

Update 2:

One of the many web sites: of the cost of rice is getting way to high

http://www.huffingtonpost.com/stacie-krajchir/rice...

Update 3:

Cost of milk raiseing ( one site of many )

http://www.roanoke.com/news/roanoke/wb/122873

Update 5:

thanks for letting me know about the bee's : )

Here's another one:

http://honeybee.tamu.edu/index.html

Update 6:

I agree with a gas strike.

14 Answers

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  • 1 decade ago
    Favorite Answer

    Only if the government continues to tax at such high rates (at the federal, state & local levels) and it continues to spend too much on non-essential government services.

    The federal government needs to return to its' few Constitutional duties and return all other items to the states (ie, eliminate all federal education, agricultural, housing, subsidies, social programs, etc.).

    The states need to get their budgets under control as well. Public Education needs massive reforms and parents need the option to send their children to any school they wish. Welfare systems need reformed. Taxes need to be capped and government growth limited. Healthcare needs less government interference and more competition. And a host of other reforms need to be done.

    If this happens and government continues to artificially keep energy costs high through their idiotic policies (no new nuclear plants, no new refineries, fuel mandates, over regulation, no new exploration, no drilling for oil off the coasts or in ANWAR, no new gas or coal exploration, etc.) then it is possible.

    Government is the problem and this is exactly why it is so very important to elect representatives that are willing to change the out of control government we have.

    We need a return to the vision of our Founding Fathers. We need to embrace federalism, states' rights, capitalism, property rights and freedom.

    God Bless America

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  • 4 years ago

    I have been suffering from post partum depression for the past one year when I gave birth to a baby boy. I couldn't stop thinking about how my husband loves him more than me and how things might be better if he wasn't born at all. Thus, I stayed away from him because I knew that I might do something I will regret for the rest of my life.

    Almost instantly I went to a therapist and convince them that I need help. Among other things, I've tried herbal supplements and other book to treat depression but nothing works like the Depression Free Method. So now I'm proud to say I'm one of the happiest mother in the world. My husband loves us both very much and I thank the Lord for the blessing he gave us.

    Depression Free Method?

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  • rich k
    Lv 6
    1 decade ago

    A question like this cannot be fully addressed in a forum as limited as this, so what I say is, of necessity, greatly oversimplified. The World economic situation is nothing like the situation in 1930. Contrary to popular myth it was not the Crash of '29 that caused the Depression, that only resulted in a Domestic recession, not unlike what we have now. It was Hoover's signing of the Smoot-Hawley Tariff Act in 1930, with a resulting reduction in both imports and exports of over 60% that caused the Depression. At that time the world was much less interconnected and countries in Europe were all working independently, also the Third World was completely undeveloped. The European Union with it's strong currency plus the thriving economies of India, China, and parts of South America, will not be dragged down this time. All anyone who doesn't want to share our collapse, if we have one, which remains to be seen, need do is link their currency to the euro instead of the dollar. There was a time when if the US sneezed, the rest of the world got pneumonia, that time has passed.

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  • Anonymous
    1 decade ago

    As long as prices keep rising and wages stay the same. Then people will have less and less money to spend on things other than food and gas for the car.

    And if people cut back on non-essential things and services. Then companies will loose profits, jobs will be lost, and governments will loose taxes.

    Just how far this downward spiral will go is hard to say. But the last economic expansion was financed with borrowed money. And now many people simply can't borrow any more. They have to pay back their loans. And paying back their loans may take a long, long time.

    Perhaps it will be a long period of economic stagnation without too much decline but also without growth.

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  • 1 decade ago

    Updated from 11:11 a.m. EDT

    Stocks in the U.S. continued their climb Wednesday as the morning's economic data suggested the U.S. economy is holding up a bit better than had generally been thought, although investors remained cautious ahead of the Federal Reserve's looming interest-rate decision.

    The Dow Jones Industrial Average jumped 113 points, or 0.9%, to 12,945, and the S&P 500 was rising 7 points, or 0.5%, at 1398. The Nasdaq Composite tacked on 18 points, or 0.8%, to 2445.

    Buyers had an edge from the outset after the Commerce Department issued a preliminary gross domestic product report that showed growth of 0.6% in the first quarter, a hair higher than consensus and flat with last quarter. GDP numbers often undergo revisions. If they remain substantively accurate, though, they would indicate that the U.S. economy, at least for now, has avoided a recession, contrary to what many economists and consumers previously believed.

    "Call it a banana, call it ice cream, call it a monkey, but you can't call it a recession," said Richard Yamarone, chief economist with Argus Research, who blames the media for much of the recessionary angst that has spread through the American public over the past few months.

    "In order for the economy to be in recession there needs to be, at the very least, one negative quarter in economic growth," Yamarone said. "To date, that hasn't occurred. Claiming recession while economic output is expanding is like diagnosing a patient with the sniffles as having pneumonia. It's incorrect, it's irresponsible, and in our opinion, just another example of election-year fear-mongering."

    Source(s): http://www.thestreet.com/_yahoo/markets/marketstor... I think the majority of Americans are being played by the media because of this election year.
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  • Anonymous
    1 decade ago

    Yes, I think that is exactly where we are heading. Wheat, rice, and vegetable oil are being rationed. Just think about the different foods we buy daily that contain wheat and oil. And then there is the price of gas. Most everything we buy is transported by truck. I am sure they have to raise their price to compensate, which in turn, the stores raise their prices to compensate. Also, one thing that most people don't think about or haven't heard about is the fact that bees are rapidly disappearing due to colony collapse disorder. http://honeybee.tamu.edu/index.html

    This site is very informative on that issue. That is not to mention the cost of the war and over 338 billion dollars American taxpayers have to pay for the illegal immigrants. And that is just the tip of the iceberg. Yeah, we are definitely heading in a very bad direction.

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  • Anonymous
    1 decade ago

    Ha. The Great Depression was the BIG one. Our current situation pales in comparison to the Great Depression.

    It's like asking if a minnow is going to be the next whale.

    I mean, we aren't even officially IN a recession yet. (A recession does have a definition you know - two quarters of negative GDP growth. We're still growing ...)

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  • Anonymous
    1 decade ago

    All economic evidence shows that YES, very much so. We'll see what all those people that only vote for lower taxes think when there is no cushion to fall back on when they lose their home and their jobs.

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  • 1 decade ago

    Recession are made so the rich can get richer by buying will you lose your house to taxes, buying stock when low, etc.

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  • 1 decade ago

    After we get a president who knows what their doing, no.

    All we have to do is boycott major gas stations for one day so that they will lose enourmous ammounts of money, which will hopefully wake them up.

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