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Another Great Depression - 2011?

You mean it's not going to happen 15 minutes before George Dubya leaves office and hands the wheel to Mr. Obama?

I guess it's time to go and buy a cabin in the woods of Montana, get a typewriter and spend the next 20 years writing barely-comprehensible manifestos against technology...
 
I dunno...I mean, admittedly my understanding of economics is sub-par (or sub-prime, ba dum tish) but to be serious for a minute, this is a very real possibility for anyone living in the USA...so much of our money is tied up in credit and whatnot...it's kind of a scary prospect.

Actually to be honest I sorta regret bringing the subject up in the first place. Almost too serious.
 
ah yes i started a thread a while back called another depression? i'm afraid we are headed that way..and i'm mad as hell about it since we've already lost a great deal of our IRA etc...and at my age that's a huge loss..
 
I'm already poor so bring it on. i look foward to growing my own onions.
 
I think worrying about whether there will or will not be another Great Depression is a waste of time - just do your best to live the life you want.
 
I am expecting economic depression this summer already in my country... so if you notice me gone... remember me by the evil deeds I perform in name of good old tyranny!
 
honestly, the states dig holes for themselves with countrys like china were they owe so much they cant pay back. A depression happens the curency will go bad, so saving ur money more wont help any, contrary to popular belief. What needs to happen (and this goes to all of the west) is to oull out of mideast and fight the fires in there own country, cuz if uv been in the streets theres ALOT of them
 
There IS one good thing about a depression. The chance to create things to take our minds off our troubles 🙂
 
Build industry. Fuck management.

More blue collar, less white collar. The only sure course to economic panacea.
 
Ho. Ly. Shit.

I was going to respond to this seriously, and then I realized that this thread has been dead for like 2 and a half years.
 
All necroing aside, if every American that had some cash on them donated one dollar every day to a fund dedicated to rolling back our debt (dunno how that would work [pay back China perhaps]) then I'd imagine by the time a year passed we'd be out of the red pretty damn fast.
 
Rox, Well we do pay that much as it's just in a fraction of our federal withholding ,and far more, but we see how good that's helping. They take plenty as is as far as I'm concerned. I know you meant give an additional $365 a year, but sadly that would only be about 80 billion raised total to a 14 trillion debt. The government currently spends 80 billion on a good luncheon.

In fact we'd each have to give an additional $174 a day, or 63k a year, to wipe it out!

(''We'' being the 220 million of us from 14-65 years old, as I'm leaving fixed income retirees alone, but the richer paying ones do make up for the 14-17 year old non workers)
 
$80 billion is still $80 billion. We'd be paying off the debt slowly but surely. Of course, I really don't blame the CURRENT administration for the current national debt. I wasn't our current president that got us involved in two wars we absolutely COULDN'T afford.
 
Debt is much higher under Obama then Bush... Obama is the record holder and he had a Democrat congress for two years. We are now in three wars with Obama, Obama is still in Iraq and Afghanistan, Don't see how National Health Care under Obama is going to help our National Debt?
 
The debt was here before Obama. Clearly the problem precedes him.
 
Regardless of how old this thread is, we were never going to reach the point of the 1930s great depression. Our economy is cyclical and goes through periods of prosperity down to recession and then back up. Look at a time line and you'll see that the line goes up and down and up and down. People hit the panic button too quickly. I think a lot of it has to do with the manipuluative media reporting that is so easily accessible nowadays. They love to make it seem like the end of the world is here.

I'm a grad student studying applied economics. There is nothing that I hate more than listening to people who think they are experts about the economy when in truth they don't know what they are talking about. They just repeat everything they hear on Fox News and CNN.
 
Debt has increased under Big Gubmint Obama by 3.445 TRILLION in 735 days!
 
As opposed to Bush's government which only managed to increase it by 6.3 trillion over the course of two terms. :rolleyes Wow! Presenting only a tiny morsel of fact without context is fun! I can see why everyone does it so much!
 
desk said:
Debt has increased under Big Gubmint Obama by 3.445 TRILLION in 735 days!
Click to expand...

The debt is more due to our ridiculously high level of imports (stuff we buy from other countries like china), and our lack of exports. What eventually happens is the value of the dollar will begin to decline compared to other currencies throughout the world. As the value decreases, our exports begin to increase as more countries buy our products and our imports decrease as other countries' products become more expensive to us. The balance of trade narrows and so does our budget deficit.

Probably the biggest concern the younger generation should have is that in order to feed our budget deficit the government is dipping further into our social security funds. This could be a major concern for people, such as myself, who are another nearly 40 years from retirement age. I figure that unless I win the lottery I'll have to work until I'm like 75, which is about 47 years away for me.
 
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The economy is bad, but we aren't in a depression. Nothing compared to the Great Depression before.
 
if depression comes we have to find some other way to overcome it and i think agriculture is one of the best way to do it.
 
What's the difference between a recession and a depression? Nothing really... They both describe a downward spiral in the business cycle. Modern mainstream economist chose the word recession over depression - because, economic depression was to depressing. 🙁
 
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