an depession soon
2007-11-02 14:13:23 · 9 answers · asked by Dark Horse 1 in Politics & Government ➔ Other - Politics & Government
Is there a chance? It's happening NOW. Look around, it's about to get really bad, really quick.
2007-11-02 14:18:47 · answer #1 · answered by sammie 5 · 2⤊ 2⤋
Probably. Because in spite of the well researched answer provided by Andrew S (yes indeed, thank you), there is more to a country than it's economic policy.
Bush dragged America into a war he said could be won in about 4 months (initially) and now the latest quote from a General in the news is that America might be able to leave the middle east in another 50 years.
Who wouldn't be depressed about that!
When enough Americans lose heart, the depression starts.
2007-11-03 00:40:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Probably not; employment is high, inflation is stable, earnings are positive, lots of economic good news exists outside of oil and housing.
In the nineteen twenties, we really didn't have an Federal Reserve that prevented bank failures. We didn't have most of the economic and financial tools that we have today, nor the regulatory oversight to prevent fraud, theft, and speculation to the degree that existed before 1930.
The main cause of the Great Depression, also, was WW I. Tremendous amounts of resources were destroyed; the Versailles Treaty and war reparations ruined the global economy. The Smoot Hawley tariff act likely worsened and prolonged the Great Depression, also.
A recession, or two quarters of negative GDP, is always possible. But I think the Fed, Wall Street, and Corporate America will try really hard to keep that from happening - and they generally succeed. (And I don't think you'll see the Fed tighten right before an election. It's more likely we'll see incomes shrink against inflation.)
2007-11-02 22:06:54 · answer #3 · answered by Andrew S 4 · 1⤊ 0⤋
Depession, No. Depression, Yes. Mostly in states that are not well economically. West Coast/East Coast tends to do better through these times of trouble.
2007-11-02 21:19:06 · answer #4 · answered by So. Cal Man 3 · 1⤊ 1⤋
Slight chance, if the hyperinflated housing market finally deflates, that may put us on the brink.
But I will not subscribe to such gloom and fatalism as seen here. Yikes!!!
2007-11-02 21:36:01 · answer #5 · answered by Onery 2 · 1⤊ 0⤋
No, more like another world war.
2007-11-02 21:16:59 · answer #6 · answered by Anonymous · 1⤊ 3⤋
that is very likely. a depression and a world war.
2007-11-02 21:18:19 · answer #7 · answered by just some chick 6 · 2⤊ 2⤋
I can see where it is possible.
2007-11-02 21:35:39 · answer #8 · answered by gone 7 · 2⤊ 0⤋
any day now we'll be eating dirt soup.
2007-11-02 21:20:52 · answer #9 · answered by Reba 3 · 3⤊ 1⤋