The Second Great Depression? It's too soon to judge

We are at the doorstep, I personally think the USA will be in a Great Depression within 2 or 3 months, and drag the rest of the world into it.

Small business is the true driving force of the U.S. economy. Obama want's to tax them to death.. who in their right mind would start a new company in the USA today.

I think it will take longer than that trit, US unemployment
is still less than 10%.

If we keep going like the last 4-5 months, run that for another year,
then we can reevaluate.. I dont think we have hit the bottom yet,
not by a long shot.

Interest rates are dead low, so I hope we can avoid
the 20% we had back in the 80's.

Unemployment has a long way to go.

Industrial outputs per country are dropping really fast ( Korea was 30% off )
car sales in Europe down 30% overall, 45% in Spain.


But its not there yet.

As a sign of respect to the rest of us who have more than two functioning brain cells (unlike Glen Beck) can you stop posting clips of his show? Unless you want to cuase a series of anyuerisms...

EH!! So sorry, I will add some Chris Matthew clips for you...

I don't think we're as bad as the recession that we had in the 80's quite yet. "Great Depression" is way too much of an overstatement. It's like comparing the Iraq War to Vietnam.

Honestly the whole recession really isn't effecting me or anyone else I know right now. I mean gas is still down, my only real expense, and I don't know anyone personally who has lost there job. In fact the two places I work at are actually VERY understaffed are are desperate for workers. The only thing is though is that it life guarding and you need the certification.

The day when they cut the hours of operation at the YMCA is when I will be getting nervous.

I just wish that there was more stuff the we, as a population, could do to help out.

The prelude to the 1928 Great Depression:

1. great stock market crash

2. US Housing Market Crash

3. a rise in unemployment

We have only had these 3 key economic factors once in history, right before the first Great Depression and now.

Right now we are running right into the same situation as the Great Depression. The government is gathering and consolidating power, tightening control and regulation of the economy in defiance of the forgotten man. The forgotten man being the ordinary man and woman that will have to pay the bill for the reckless spending, like billions of dollars in bailouts, while trying to stay afloat themselves.

Spend, spend, spend!

a recession is measured in terms or gdp drop and unemployment , currently were in a recession based on the numbers . were still not technically anywhere near a depression in canada . the economy also has't really entered any kind of recovery yet either so its hard to say how bad it will get before it gets better .

Media hype, they're all cheering for a great recession/depression doom and gloom sensationalism sells. If they keep it up it'll come back and bite them in the ass.

You forgot overproduction in the manufacturing sector and a decline in agricultural output. Coupled with a rise in protectionism is what made the 1929 crash a Great Depression.

It'll only be after this particular depression end will we able to judge whether is was Great or simply bad enough.

Spend, spend, spend!

Well ill be spending about $750 on my next trip
Ive also been blowing through cash on food/drinks the last few weeks.

AIG reported a loss of some 60 billion for '08, its getting a second bailout..

not very sensational....

You forgot overproduction in the manufacturing sector and a decline in agricultural output. Coupled with a rise in protectionism is what made the 1929 crash a Great Depression.

It'll only be after this particular depression end will we able to judge whether is was Great or simply bad enough.



Maybe we should include easy credit... Speculators were aided by 'easy credit' from banks and stock-market brokers which also helped cause the 1928 depression.