and not what is already happening with the subprime mortgages - but LARGE SCALE depression?n Due largely by the war-debt-
2007-11-14 10:09:30 · 9 answers · asked by omnimog 4 in News & Events ➔ Current Events
We're halfway there. When gas breaks the four bucks a gallon barrier (in the next six months) the effects of the falling dollar start to show up here (about a year), when the federal trade deficit and the cost of the war start to really be noticed (any day now) we'll be in a depression that will make 1929 seem like the good old days.
2007-11-14 12:59:18 · answer #1 · answered by Anonymous · 2⤊ 0⤋
No, not at all. The US economy is huge and the national debt is actually a smaller percentage of the overall economy now than it has been in many periods in our past. Besides, ask yourself who we really owe this debt to and why that would cause a depression? Some economists have even proffered that the debt itself is meaningless, though that is a bit of a stretch.
2007-11-14 10:14:59 · answer #2 · answered by Fafeom 3 · 1⤊ 2⤋
Not unless there is a conspiracy among other countries(ie China, Russia, Opec), to bring us down. That would happen either by a large scale dumping of US currency reserves, or shorting of the US dollar in the financial marrkets. End result, everyone gets hurt, but we get decimated!
2007-11-14 10:20:40 · answer #3 · answered by Anonymous · 0⤊ 2⤋
No, America will just keep borrowing off of China like it's been doing for years. America owes China billions.
2007-11-14 10:17:46 · answer #4 · answered by Anonymous · 1⤊ 2⤋
oh yes
2007-11-14 15:58:05 · answer #5 · answered by Anonymous · 2⤊ 0⤋
Only if Hillary is elected.
2007-11-14 10:17:51 · answer #6 · answered by atomzer0 6 · 0⤊ 2⤋
yep
2007-11-14 10:16:23 · answer #7 · answered by Becky T 3 · 2⤊ 1⤋
Yes, I do.
2007-11-14 10:11:43 · answer #8 · answered by WC 7 · 1⤊ 1⤋
you bet ye.
2007-11-14 12:36:26 · answer #9 · answered by Anonymous · 2⤊ 0⤋