any thoughts on a second great depression occuring?
820675
There are several scenarios that might lead to one.   The housing bubble might lead to one.  As people deside they no longer are going to pay their mortgages for overvalued houses and they are returned to the finance companies (banks) causing a national banking collapse.  That could do it.  \n\nAbout 20 to 30 years from now when oil becomes nothing more than a fond memory and people are forced to ride their bicycles to work, that will assuredly do it.  Of course we will no longer have to worry about an obese population.  \n\nI do not know at this point whether I will be glad I did not live to see it or not.  It should be interesting to a casual observer.  It will not be so interesting to the poplulation that has to adjust.  The Amish might get a kick out of it.
462861
We won't go into a depression.  We could go into a recession though, a really bad one.  If the economy ever took that type of tailspin again (I assume you are referring to the great depression of the 1930's), it would be devastating to our country!  It would also affect the world economy is a big way!!  Back in the 1930's, the U.S. nor other countries, did business together (loaning money) the way they do now...so it is nearly impossible to compare what happened then to what would happen now...but it would be very very bad.  Interest rates could shoot WAY up...at recent as the 1980's interest rate for even home mortgages were in the middle teens...what do you think would happen to the average American that carries mortgages, huge credit card debt, etc....the interest on these loans alone would way surpass what people are paying right now on principle and interest.  Many people would lose EVERYTHING!  But as in the 30's, the folks who have lived conservatively and have money saved would make out like bandits.  Their money would be accruing interest at those high interest rates and all the items that are repossessed would be able to be purchased at a fraction of their worth.
498141
This did not happen. There really was not much depression in the 1940's. Actually, the economy was very strong and started the "Baby Boom".
85842
Think about The Great Depression and what he did to resolve the economic issues of the country at that time... The banks failed it's customers and companies were abusing its factory workers.
245271
http://en.wikipedia.org/wiki/Great_Depression
785499
In the UK it has been discussed that this may indeed happen. However, I expect prices to drop, perhaps dramatically in some areas, while other areas will experience slight depreciation. \n\nIn the USA I expect to see prices drop further in many markets. Currently, there is a lot of talk that prices have "evened" out. However, IMO this is a physolocial band aid with the hope to "hold" things together so many over invested people will not go bankrupt.\n\nForeclosures continue to increase. People bought due to the fear of loosing their dream of home ownership. Many of these good folks over financed themselves and the evil interest rate is knocking at their doors.\n\nOther people bought simply out of the desire to make their "millions" in real estate and got out. Many did make millions - yeah for them. Others have got caught holding the bag. It was due to happen sometime. \n\nSome markets, like the Pacific Northwest will most likely not experience as drastic price drop as other areas, due to the continued flow of people flocking to live here. For my sake, I hope prices do drop dramatically - so I can more house!
1158959
We will probably go into a depression.
510147
No worry! Look at the charts for the past 50 years. The market will go up again! (If you are not financed by debt :)
1022370
the situation seems grim this is sort of like the cold war it's going to be a very long war and it's going to cripple the us economy maybe worse then the depression were freaking out of control plus I can't even watch the news anymore because of all the paranoia. people are in a state of panic some are even saying that this is the end of days
868790
People of ALL races will lose jobs. Prices will rise, then they promised to raise minimum wage again. It will be a vicious circle of inflation!\n\n\nInstead, why not install a national Cost Of Living Adjustment (COLA) or all?
394549
no, it is just part of the business cycle. sometimes it's up - sometimes it's down.\n\nbtw, we have not been in a true depression for many years - mostly only recessions which is defined as 2 quarters of negative growth
1067160
Given the situation, there's a high chance that America could fall into an economic depression. Looking at it now, it seems almost impossible to pay off the debt. I believe that America will collapse if it suffers from severe depression and attacked from numerous outside forces. But then again, America's suffered two depressions and it managed to survive, so we'll see.
996042
Decline in some areas, maybe (manufacturing comes to mind)...but in terms of research, development, and especially services...these are what will buoy the US over the next fifty years.\n\nThis is what happens during the development of a one-world economy. The idea of the nation is, in some ways, obsolete.
857178
a bad business situation doesnt necessarily means like great depression. however it means the business is not doing good, may be low revenues, high costs, and other negative factors pushing the sharprices down.\n\nthe best policy depends on the situation, but most often montary policy is used. the goverment doesnt change tax rules and therefore fiscal policy is not very common now. however monetary policy is used more now, to correct inflation and other economical objectives by raising and reducing interest rates. so this suggest monetary policy is better and convenient for the govt.
4150
Most definitely. As the leader of the United States during arguably the most difficult time of our history, he pushed Congress to pass emergency bills and reform measures that helped improve the economic situation in the eyes of the public. Though many historians say the beginning of World War II ended the Depression, I think that if it weren't for FDR's leadership, American morale would have fell too far to possibly recover economically.
224878
There are a lot of WPA projects that are still around today... The New Deal also gave us the FDLIC (government insuring our money in a bank).. that's about all that one can be certain of without conjecture...\n\nHowever, many (including myself) believe that economic policies of the New Deal extended the great depression by eliminating many of the natural market mechanisms that would have restored the economy.  In fact, the New Deal policies in many people's opinions did not end Japanese Depression, it was the advent of the WWII that did.  At this point, if one was to believe in conspiracies, one would hypothesize that FDR forced Japan to attack us and invited the attack by giving the Japanesse an easy target.  At that point, the sky is the limit as far as what things would have changed if the U.S. remained neutral for the war.
904721
That idea formed when WW!! sped up the recovery from the great depression.  War causes an increase in government expenditures and has increased the national debt, which evenually could lead to higher taxes, then there is interest rates, to curb inflation, and thus recession following the war