Another Great Depression?

Another Great Depression? I really believe in a couple years we are going to go into another Great Depression. We are all ready in a mild Recession. Currently the U.S. is in several billion dollars of debt. Most of this money was borrowed from Asian countries, (particularly China). If our current trade agreement with China goes south, we will find ourselves with no money and massive debt. Taxes will be raised and businesses will close down. Without imports from China means prices on all goods skyrocket. Remember though, these events are highly unlikely. Although prices are all ready skyrocketing because of the fuel crisis and they have to raise prices on merchandise to help pay to import them here. BUSH could do something about the fuel crisis but he has stocks in it, so he’s just letting the money roll in… and we call him our president huh? Im glad he’s leaving the Whitehouse everything wasn’t so f****d up until he stepped in the office! Rich is getting richer poor is poorer.

Asked By: Brittieboo - 5/23/2008
Best Answer - Chosen by Asker
Seriously... people need to really contemplate what a "depression" is. Most Americans own two or more vehicles... own a cellular phone... have video games such as "rock band" or "halo"... have access to the internet (obviously)... have cable or dish television... eat two or three meals every day... dine out at least... More
Answered By: Laurie V - 5/23/2008
Additional Answers (10)
i could see it now.....everyone dying of starvation.......NOT!! You are the type of people that want to scare the public.....
Answered By: I still LOVE my Pastor! - 5/23/2008
May be closer than many think, even with all the safeguards that we have in place. If and or when it happens it ain't gonna be pretty.
Answered By: Ed J - 5/23/2008
Sorry, but all the economic data indicate that even this current downturn is starting to recover. As for your economic analysis, I can only recommend you take an economics class sometime.
Answered By: Call Me Bwana - 5/23/2008
Given what Halliburton has gotten away with I'd say you are dead right.What amazes me to no end is the fact that hardly anybody is raising holy hell about the economic r**e of America.I'm not suggesting a violent overthrow of our government but a lot more participation and debate in the media,public protests,even some... More
Answered By: nosefinger - 5/23/2008
I do not agree with you, but for a different reason. There are too many measures in place to keep a repeat of 1929 from happening. But I do understand what your premise is, and there is a chance that this could happen. Stay positive, keep working and save money in trreasury bonds
Answered By: inappropriatus - 5/23/2008
It's very unlikely... More
Answered By: Gentle Giant - 5/23/2008
>>>another<<< Great depression? after 8 years of BUSH.........I'm already greatly depressed!!!! If McCain gets elected........THEN we'll have >>ANOTHER<< Great Depression!!!!!!
Answered By: Weasel McWeasel - 5/23/2008
it's already begun. the market measures that were put in after 1930's had points when the fed could step in and try and re-balance the system before it tipped too far and "upset the cart" so to speak. but peak oil, massive debt, personal debt, job losses and corporate tax avoidance and consumerism have stripped away... More
Answered By: - 5/23/2008
I agree there "could" be another Great Depression. The reason gas prices are so is not because of Bush, it's in large part because of the Federal Reserve running their printing presses non stop. The more dollars they put in the system the less they are worth. They have been bailing out other private banks with our tax... More
Answered By: Candy S - 5/23/2008
if anyone who can barely afford to pay these insanely high gas prices, then yell at the democrats for not letting the oil companies drill in the USA... More
Answered By: sean M - 5/23/2008
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