upcoming Depression...

[KATACHI IS KING!!]

how many of you who live in the US actually beleive its going to happen? I dont. I mean sure we're in recession with oil prices rising and stuff but I doubt we'll go back to a Depression. But idk. what do you think about all if this?

[Solid Snake]

that stock market has risen and fell alot latley but i doubt it will lead to another depression

[Xegreny]

No not really. The Stock Market has its ups and downs, but if there was a impending Depression, you'd know it. They'd be screaming all over the news, and companies would be scrambling to restore it.

[Solid Snake]

No not really. The Stock Market has its ups and downs, but if there was a impending Depression, you'd know it. They'd be screaming all over the news, and companies would be scrambling to restore it.
but there are a few ppl who think the sky is falling allready lol ^___^

[8730]

The American economy is already in Recession. It was on the news but I'll be damned if I could find an actual article =_= The sub-prime mortgage crisis has severely affected the economy in America and also had far reaching global impacts, mainly on banks.

Northern Rock in England nearly folded as a result. It was the first "run" on an English bank in over a century. If it wasn't for the Bank of Englands injection of cash it would have gone under.

It's already here, you just havn't noticed =_=

Although I'm assuming there is a difference between a Recession and a Depression? Or are they the same? I think they are
>_>

<_<

[Solid Snake]

The American economy is already in Recession. It was on the news but I'll be damned if I could find an actual article =_= The sub-prime mortgage crisis has severely affected the economy in America and also had far reaching global impacts, mainly on banks.

Northern Rock in England nearly folded as a result. It was the first "run" on an English bank in over a century. If it wasn't for the Bank of Englands injection of cash it would have gone under.

It's already here, you just havn't noticed =_=

Although I'm assuming there is a difference between a Recession and a Depression? Or are they the same? I think they are
>_>

<_<
A Depression is what we got along time ago when our crops died and everyone was poor ,
so a depression is a recession gone retarded...

[Pure Sorrow]

we will never have another one in my opinion, because once youve already had one you know how to counteract against the causes of one.

[Solid Snake]

we will never have another one in my opinion, because once youve already had one you know how to counteract against the causes of one.
We do know how to avoid it but...

<_< *Looks at George Bush*

anythings possible?

[Repliku]

That's a good question. We have been in a rather serious recession for some years now. Quite a few friends I know do feel we are sliding back into a Depression sort of era as more jobs go overseas, people are stuck with menial things and the money they earn doesn't all equate to the cost of actual living. Many people live with roommates and such since living alone is very hard unless you are fortunate to get a high end job. The poverty level is pretty high and the middle class is shrinking. We aren't doing too hot here. However, I do not know that it can get too much worse at this point, or I hope not. We do need to get on the ball and perhaps with a new administration we can rise out of this some. We've taken a lot of stuff for granted and it's why we are here now but if people get more active, hopefully we'll get out of this recession. I don't really see a full blown Depression happening but then again, if we continue with things as they are, our world market value has gone down the crapper and well, it just may be possible.

[Crumpet]

I don't live in America, but I doubt you guys will go into a depression. That won't help any over seas country either as we do take some of our stuff from the Americans, so that wouldn't help us either

[Zeftnon - The Superior]

I don't think the U.S. is gonna go into a Depression any time soon. I mean, the market's still booming so...

[Catch the Rain]

Oooh now this is a topic I was reading about quite recently, I will try to find a link later and add it in, but basically there is a worry that because all of the baby boomers from after the 2nd world war are now nearing and reaching retirement and pension age that the American economy is going to take a major hit. I would assume that if it is that serious and that there are that many people wanting to claim a pension that the wave of these boomers would be enough to rock things.

[KATACHI IS KING!!]

well one thing is that all of the eight things for recession are here. High gas prices, even Countrywide almost declared bankrupcy if had not been for Bank of America. Plus there is so much uneployment these days. So i beleive it could happen but not too likely. With Bush out of office soon, it might stop the recession

[hangthesilver]

I don't think we'll slide into the Depression that happened in the thirties, but we are in a rather serious recession....I don't think the poverty level that happened back then would ever happen in this age (where sharing is caring and morals are high and whatnot) but I do see it hitting the everyday American in the gut. It's a matter of not adding more bills on and spending wisely...at least that's what I hope it will be. Like someone mentioned before, anything in possible.

[Repliku]

Oooh now this is a topic I was reading about quite recently, I will try to find a link later and add it in, but basically there is a worry that because all of the baby boomers from after the 2nd world war are now nearing and reaching retirement and pension age that the American economy is going to take a major hit. I would assume that if it is that serious and that there are that many people wanting to claim a pension that the wave of these boomers would be enough to rock things.

Yeah, the Baby Boomers are a really big problem as older people live longer and well, there are many of them. There are a lot of older people 60+ years of age and we are going to feel the weight as these people are moving to Social Security etc and there are not enough people younger than that to support them and our jobs and income to living income necessity do not equate. Many people really did lessen how many children they would have and so we are just tremendously outnumbered and the job market sucks. Jobs that paid well went to other areas to get cheap labor and well, China and other places are now doing better economically but we're getting screwed over. Sure, we get some stuff for cheaper, but if we have no good jobs, how can we keep affording even that?

There are quite a few problems, but I'm not sure we'd go into an actual Depression. We are definitely in a Recession and with the baby boomers especially, as much as I hate to pin things on people -living- we are going to have some troubled times. What's ironic is that most people 60+ helped us get into this crappy situation in the first place with all of their bad corporate deals and all, but again, I don't want to be a jaded jerk who points and says 'this is all your fault'. So we younger generations are paying for it and I just hope we'll be able to come up with some brilliant ways around this dilemma to keep us all safe and not find ourselves living in the streets. I think it's possible, but we need to all start paying attention to who we elect into office etc and also start encouraging more businesses to remain in the U.S. We really need an overhaul of some departments and to start paying attention to detail because in the next decade we are going to feel the weight even more.

[Advent]

Well the Great Depression started like this (stocks plummeting, etc.), but much more abruptly. So it is a possibility. We have the war, stocks that are failing all around the world, oil that can cost as much as food, and many other economic plunders I won't go into now. We are already basically in a recession (two bad quarters for a country's stock for those who don't know), so a depression is possible.

[KATACHI IS KING!!]

Well the Great Depression started like this (stocks plummeting, etc.), but much more abruptly. So it is a possibility. We have the war, stocks that are failing all around the world, oil that can cost as much as food, and many other economic plunders I won't go into now. We are already basically in a recession (two bad quarters for a country's stock for those who don't know), so a depression is possible.

thats exactly what I'm talking about. I mean, Countrywide (biggest insurance company of america) almost declared bankrupcy not too long ago. The bottom seems to be fallin outta the stock market, and there is much more unemployment.

[Darkwatch]

Considering our dollar is so low in value, it's very possible that the bank could contract the money in order to gain what's left of it at it's current phase.

Otherwise the dollar is bound to collapse. It won't last for long, imo. Or at least much longer. lol

[Advent]

Depression? A tad extreme if you ask me. The recession is still in the early stages, and I'm fairly certain once a certain monkey leaves a certain oval-shaped room the economy will start to recover.

[*Hippie Jesus*]

i find it possible cuz we have a HUGE population with many many needs and we are the worlds leader in trash and we recive alot of stuff and use alot of stuff leading in large amounts of money...........i find it believable but yet i would say not quite yet cuz we also have lots of futurestic stuff going on to to solve these problems.......

[Darkwatch]

Well eventually the dollar is going to stop being....here...so.... it'll happen regardless, imo.