On account of the falling economy and massive job losses, do you believe we will go into a major depression?
Please, no smart alec remarks, I
Dems for A ... I don't know what info. you're looking at, but all you have to do is open your eyes, and watch all the businesses around you close, and all your neighbors who are now jobless. You need to wake up and face the fact that Obama is destroying America, and it's as simple as that!
- BloatedtoadLv 61 decade agoFavorite Answer
Yes we are in that depression now. Divide the 8 or 10 Trillion that has gone to bailouts that have gone to the elite (because they are too big to fail) by the number of households in the US and you probably get a figure close to $100,000 per household. If they wanted to save the banks from defaulting mortgages couldn't the government have given the money to all mortgage holders to pay off their mortgages? That should have saved the banks. There is another agenda going on here and we will end up a lot poorer with less freedom. There was a famous movie producer who was friends with one of the owners of the Federal Reserve Bank (which controlled the bailouts and precipitated this depression). He learned a lot about the agenda of the Fed (that we Americans are not suppose to know). He talks a lot about what he learned from his Federal Reserve friend in this 2007 interview:
- alamoliciousLv 61 decade ago
No, because its the reason we have a falling economy and massive job losses that is important. The Financial and Political ineptitude and greed is the reason I think we will eventually go into a depression if we aren't already. I no longer trust any of these groups as they are the only ones that haven't been affected by what has happened in the credit crunch this time as we had to bail them all out. The politicians relaxed the financial regulations for their cronies and allowed them a free hand more or less and we now have what we've got. Many of the Financial services then became political appointees to run the Financial Services authorities thus they had complete and total free rein.
Right now, although they say we are coming out of the recession some of these same people are still in authority and are continuing the same practices on the money we bailed them out with. I think they honestly believe and have a right to that we will bail them out again. If the government didn't use our money to bail them out then the country will definitely go bust. The trouble is that there is now not enough money or borrowing left to the nation to bail them out so we will all be able to live just as they did in 1929 during the Great Depression. The next thing after that is the same people will come along and save us. Viscious circle isn't it? At least they claim they do.
- Anonymous1 decade ago
I was predicting a major Recession/Depression back in 2008 at the end of Bush's term.
It hasn't happened, so maybe Obama is doing something right!
But it is a dangerous situation now - and unfortunately the hard choices are not being made to reduce the deficit and debt.
Obama is trying to be "nice" to everybody, just like Bush was at the end.
- 1 decade ago
No, because the economy is actually improving and the job market is expanding. Maybe in the fall of 2008 we were headed that way, but not now - thanks to President Obama we are no the right track!
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- Warren TLv 71 decade ago
I WOULDN'T RULE IT OUT BUT WE ALSO COULD BE LOOKING AT HYPERINFLATION
- Anonymous1 decade ago
I WOULDN'T RULE IT OUT BUT WE ALSO MAY BE LOOKING AT HYPERINFLATION