Are we heading for a depression?

Question

I read an article about how we are heading for another great depression,it said that before the last depression the housing market was very weak which it is now.Also before the great depression hit the US borrowed 60% of the global credit in 1 year,which it did in 2006.China and Japan don't want anymore of our debt,I feel if something drastic doesn't happen soon we will go into a depression.

Answer 1

Sadly to say, but Yes. We are indeed headed for serious trouble. Anytime that the economy is in favor to the Big Corporate, and against the General public, then at every turn you will find that it all falls on the working class Shoulders. War, Bad politics, Corporate Greed=Bad times for you and I my friend. Here is some TRUTH> There is not now, nor has there ever truly been an oil/energy shortage, Big business
just cashes in on the Ideaology of supply and demand. As Americans we should have told them that it is IDIOLOGY and we simply are not buying into their B.S.
Fact, if your State would take $1.00 per day of the taxes that everyone in your State Pays in, and Divides this money among those who's income is less than 35,000 per year, they would make these families or persons wealthy and thus they would buy and not rent, they would purchase goods, thus increase that States Economy, and the Farmers, Factories that supply the goods, and in general every body WINS, GOOD for everybody because it puts the American Dollars in greater circulation thus it is a winfall, do this Nation Wide, and you have just eliminated POVERTY in the U.S.
Funny, our Governing Politicians and big business does not want this to Happen."WHY?" Because the Corporate billionairs and multimillionairs, well, they have just lost their influence and control, if they can keep you and I living paycheck to Paycheck and Hand to Mouth, They are the ones who control this Nation. If we are allowed to become wealthy and independant, they could no longer keep us all under their thumbs.EWnough is Enough America, Wake Up!!

Answer 2

The economy is slowing down, but the growth rate over the last several years was in part due to putting the unemployed back to work, Now we are near full employment, and sooner or later we will have a recession. That is why it is called a business cycle. There is no reason to think we will have a "depression" if you mean what happened in the 1930's or even in the early 80's. The press is looking for news to report so they exaggerate the problems to make stories interesting. When you hear their disaster prediction, just think of what they do with Florida hurricane stories.

Answer 3

Good grief. How some people wake up in the morning is beyond me.

The housing market is weak? Compared to what? The housing market skyrocketed the past few years. It is weak compared to that. But a person who weighs 280 pounds is skinny compared to a person who weighs 500 pounds.

Lee M is full of crap. I'm always amazed at people who are terribly afraid of big corporations, but will gleefully hand over their education and health care and daycare and retirement to big powerful government, the cruelest entity in the history of the world.
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Answer 4

If we are forced to withdraw from Iraq there will be a severe recession. If other countries fall in the middle east there is the possibility of a world wide recession and depression.

Answer 5

Yes, I seriously believe we are.
There s nothing sustainable in our current economy.
Lee M. in his post, said it best.
Good luck.

Answer 6

i think so just like your information said. plus the way prices are going higher and higher...