2006-07-14 14:56:04 · 10 answers · asked by Anonymous in Politics & Government ➔ Civic Participation
We are headed for a WWIII. That will cause "Great Depression II"
so, stock pile your guns, ammo and anything else you can get your hands on, cause the politicians will leave you to die, what do they care. They'll be in the underground , air conditioned bunker.
2006-07-14 15:00:41 · answer #1 · answered by Jimmy1575 2 · 0⤊ 0⤋
there is concern among economists that our country has become so indebted to credit card companies that they have reached their limits and have to put most of their money to paying off bills that consumer spending will be greatly reduced and may start a domino effect. But we also have vast knowledge since the last depression that help us to counter act another depression, for example increasing government spending and reducing interest rates when the need arises. The great depression was known so because it not only affected America's economy but many economies in leading nations in Europe at the time. And I don't foresee the world's economy in trouble of economic fail. After all our economy still has a steady growth rate, we may be in dept but that is not a recession yet.
2006-07-14 15:21:01 · answer #2 · answered by Sue S 3 · 0⤊ 0⤋
I guess eventually it could happen. Our economy is strong & growing, I can not think of a reason a depression would happen.
It is usually tied to housing market & it is great. My husband works in this market & the money is rolling free, I think if ever it is years away.
People in credit card debt may be in for a depression & if we are lucky the credit cards company will be depressed over loss of overcharged interest rates. Maybe they should have thought of that as they gave out credit cards to college students, elderly, lower income with no way to pay & charged the an outrageous interest rate.They lose money - well boo hoo!!!.
2006-07-14 22:10:17 · answer #3 · answered by Wolfpacker 6 · 0⤊ 0⤋
Agencies like the FDIC are designed to avoid another depression. However, expect a gradual slowing and loss of U.S. economic power as the Asian tigers begin to rise.
2006-07-14 15:03:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No, that would never happen now, we have a vested petro card and we will be in debt for a long long time and people will still buy and sell and the stream of commerce will be the same and the same to come...
2006-07-14 14:59:45 · answer #5 · answered by lifecircle9 2 · 0⤊ 0⤋
Yes and No!
Under current social values, it is a very real possibility. However, it is far more likely that humanity will cease to exist, as we know it, in the not too distant future.
2006-07-14 15:02:52 · answer #6 · answered by Scarp 3 · 0⤊ 0⤋
Only if Al Gore gets elected president.
2006-07-14 19:09:55 · answer #7 · answered by cashcobra_99 5 · 0⤊ 0⤋
the economy is good
2006-07-14 20:57:28 · answer #8 · answered by MIKE B 4 · 0⤊ 0⤋
I believe we are
2006-07-14 14:59:09 · answer #9 · answered by Anonymous · 0⤊ 0⤋
began this week
2006-07-14 16:48:57 · answer #10 · answered by eg_ansel 4 · 0⤊ 0⤋