Will there be a repeat of the Great Depression starting 2008?

Answer 1

No.

Alarmists have predicted thirty out of the last zero depressions.

Answer 2

No, we've gone through a depression in the 20s, two World Wars, the UN Skirmish in Korea, The Cuban Missile Crisis, the assasination of JFK, Vietnam, an oil crisis in the 70s, the taking of our Embassy in Tehran, the destruction of the Marine Barracks in Lebanon and the bombingof our Embassies in Lebanon, Kenya, Tanzania; The Cold War, the collapse of the Soviet Union, 9/11 and two wars in the Middle East and in the Far East and we are still here. We will survive this. We are not the lone surviving superpower for nothing.

Answer 3

No. We basically have a sound economy. Oh sure there are problems, but nothing that's going to cause a depression!

Furthermore, we know better on how to handle economic downturns. Part of what made the Great Depression so bad was poor monetary policy after it's started.

Answer 4

Probably not but there has been talk of another depression since I was a child. Sooner or later there will be on that makes the Great Depression look pale in comparison. just not in 2008.

Answer 5

Sure, the economy could go into a depression or a recession, but I dont think it will be as bad as the Great Depression in 1920's

Answer 6

Fundamental changes in the economic structure of the United States has created a state of permanent steady growth, low unemployment, and immunity to boom and bust macroeconomic cycles.

Did You Know? During the Great Depression, the U.S. unemployment rate (as calculated by today's standards) never exceeded 5.5%.

Answer 7

No.

The economy has too many safety nets. First the stock market, if it starts to crash, stops trading. Stocks bought and sold on the markets are regulated and value is carefully checked against corporate disclosures. Not perfect, but it works.

Banks are required to have specific reserves of cash to cover depositor money.

There is a Federal Deposit Insurance Corporation which covers bank losses as a result of operating malfunctions.

Banks are heavily regulated and examiners are constantly checking reserves and balance sheets. Banks which are failing are usually shut down and sold to stronger banks.

The GNP is sufficient to sustain majority employment whereas in the late 1920's the GNP was largely tied to inflation and the stock market rather than manufacturing and commercial capabilities.

Today manufacturing and commercial capabilities are the best indicators of GNP. Growth based on stocks or even real estate is generally marginalized despite the immediate impact the dot-bomb and the mortgage crises have had on the current economies.

Answer 8

we are in for a severe recession--caused primarily by the fiscal irresponsibility of the Bush administration.

But not a depression. That's an entirely differnt kettle of fish--and fortunately, our economy is not riddled with the uderlying weaknesses or lack of organizational safeguards that was the case in 1929.

Answer 9

not if we get a good president that is republican, preferably one of the new york mayors, I really think bloomberg should run for president because he has the economic history to make sure that we don't have a depression, and i think our country has made it so that it wouldn't be as bad if it were to happen again

Answer 10

Not in 2008..
The big crunch will come when the entitlement peak happens in 2040.

Answer 11

No. I do not believe so. First off, the economy is still strong, despite the mortgage crisis and inflation. Jobless numbers are still down, the economy is still growing at a decent clip. I think that we may fall into a recession, but not until 2009. One of the fears I have is that so many Americans are going so far into debt.