Is Our Country Headed For Another Great Depression?


6 Answers

daryl mccullough Profile
Yes. There is no possible way to avoid it with the monetary and economic policies in place. This is just the very beginning. The Federal Reserve has printed us into a worthless currency by firing up the printing presses anytime Washington needed money. Look at the value of our dollar vs the peso....that will give you a good indication on what it's worth. Then you have the severe lack of exports. We export nothing of value, we import everything. Robert Chapman of the International Forecaster is a great resource to learn whats going on. Store up food.
Janey Profile
Janey answered
Yes there looks to be a repeat of the Great Depression heading America's way.In fact the US job market is in worse shape than the 1930s, with 45% of the unemployed being out of work for more than six months.That's a higher proportion than at any time during the 30s.Automatic stabilisers, from unemployment benefits to foodstamps, means the economic downturn is no longer a big pothole.Rather a bottomless pit and there are no breadlines.

A CNN poll shows that 48% of Americans expect another Great Depression within a year.They could be nearer the truth than the Fed would like to admit.A slew of stimulus measures have expired and the last of them ( unemployment benefits and payroll tax cuts ) will end on Dec.31st.Even before then the impact could be negated if there is an adoption of massive spending cuts in exchange for raising the debt ceiling.

There are already similarities to the Great Depression.Then, as now, the government mistook the absence of negative growth as a nascent recovery.The slashed deficits, thus killing off the threat of inflation.That mistake of 1937 plunged the economy back into the red.Warnings of a 1937 redux such as job creation for May being four times below the rate to keep up with population growth are being ignored.
Lisa Marie Halsey Muniz Profile
I have heard this.  I have also heard that we are currently in one.  Especially the way the stock market is and the economy.  I say that we should try and save as much money as possible when we can.  Thank goodness that gas prices are currently down hopefully they stay like that for a while, but doubt it.  Watched the news that they will probably increase soon.
thanked the writer.
Jane  Snow
Jane Snow commented
Keeping looking to the Lord for his direction this what I am doing And I pray we all do the same.If any one can make all right then Jesus can.look to hills for which cometh your help,it comes from the Lord.
Jane  Snow Profile
Jane Snow answered
I would say yes because it was already messed up and I heard some say it will get worst before it gets better.But my hope and trust is in the Lord not in man.We can pray and hope for the best.But I know the Lord has it in control.
nettie Profile
nettie answered
No and I say no because it is already here look how people are losing their homes and cars,jobs etc..and how the stock market has crashed,and we as poor as we are need to help them out of a $7 billion deficit,was would you call this except a depression......we all need luck,mercy and anything that will help us get would you say it is here or waiting in the wings....
Arthur Wright Profile
Arthur Wright answered
Chances are we are already started into one if one looks at all the signs and evidence and not by Obamas word as he has no idea

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