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Great Depression 2009?

The History Channel had a special last night about how the financial society is repeating itself since before the Great Depression of the 1930's, that we are heading straight into another great depresson. How many of you agree with this?

Also, I found an interesting website (controversial) of how to survive a 2009 great depression, Political Gateway. Also, what do you think of these website ideas?

Answer Question
 
BlueSaphire

Asked by BlueSaphire at 6:26 PM on Jan. 3, 2009 in Politics & Current Events

Level 21 (11,698 Credits)
Answers (17)
  • Ive read that article before an Im doing exactly what he says to do. I think we are headed straight for a depression, if we arn't already there. Last year they were telling us we were not in a recession and this year they are telling us we were in a recession since late 2007.
    Anonymous

    Answer by Anonymous at 6:36 PM on Jan. 3, 2009

  • I think we could be headed that way, that is why we are trying to pay off everything except our house. Just bought it 4 years ago and there is no way we are paying it off soon. Anyways, this guy could be onto something. Sounds like he has done alot of reading. SOunds good if you are in seroius trouble. But I would have to be very hard up to try something like that. And I think that is why he is getting at if you can't feed your faimly and pay your bills then try this. Not you are doing good and just don't want to pay on anything for the next two years do this.
    Like I said I think this is for ppl who are already suffering terribly and about to loose there homes. So Don't try it unless you are ready for the consequences. JMHO
    lovinmomto3

    Answer by lovinmomto3 at 6:43 PM on Jan. 3, 2009

  • This country has been through a lot of depressions. It's not uncommon, we just only ever hear about "the great" one. Really they're just part of the economic cycle. I don't think this one will be another "great" one, but enough people are going to exaggerate and wring their hands and convince themselves it is - especially if they're at all affected and need a good excuse to absolve themselves of any personal responsibility (like say, maxing out their credit cards to furnish a home bought on an interest only mortgage). If there's going to be another "great" one, it will probably be one or two after this, when all the people who get out of their debt with bankruptcies this time haven't gone long enough to refile without improving their personal habits.
    NotPanicking

    Answer by NotPanicking at 6:46 PM on Jan. 3, 2009

  • Yes, I do think we are headed for an even Greater depression than the Great Depression. It will hit us hard and many will not survive. I personally believe that people will starve, not from lack of money to buy food, but because we do not have the ability to transport and mass produce on the same level as prior to the Greater Depression. I am personally trying to mentally as well as physically prepare for this. I am selling my home to buy land in the mountains where I can be self sustaining, grow my own food, and protect my home and belongings. I plan to use this time to stock up. If I am wrong - well no harm in it. I have a nice mountain retreat. If I am right, and I am sure I am, then I will have my secured hide-a-way. I have a group of friends who know about this and we plan to do this together.
    frogdawg

    Answer by frogdawg at 6:59 PM on Jan. 3, 2009

  • it is very possible.... im worried
    JuLiAnSmOmMy317

    Answer by JuLiAnSmOmMy317 at 7:59 PM on Jan. 3, 2009

  • It is concerning BUT, a 93 year old man, very alert and spry, talked with me about THE Great Depression and his wise words say it all 'it is not nearly as bad as it was and it will not be as bad as that was'.
    It will not be easy and we have rough days ahead, but he even told me, something I had not thought about, was there is help for people in a huge bind. Not ideal help, but back in the Great Depression there was no huge help...unemployment etc.

    So...that is my answer from the mouth of a wise older gentleman...
    nmwmom

    Answer by nmwmom at 8:25 PM on Jan. 3, 2009

  • The economic situation was WORSE in the late 70's and early 80's than it is now. Unemployment, stock market, inflation...all worse. I don't think we are in anything close to a depression.
    Anonymous

    Answer by Anonymous at 8:31 PM on Jan. 3, 2009

  • Wow. I couldn't even make it through that article. That guy is a moron. As are some of the people on here apparently. People with no clue talking about economics and history is really very amusing. Do yourselves a favor. Study up on recessions and depressions in history. Then take a Xanax and pay your damn bills. Or dig a hole and pull yourself in.
    Anonymous

    Answer by Anonymous at 9:32 PM on Jan. 3, 2009

  • Last poster your rude, I hope for your sake he's wrong. And I guess Wall Street and our Government know so much about economics that's why they did such good job. Dont worry I'll save my Xanax for you, nothing in this life is guaranteed. I know enough about economics to know its bull and its all manipulated Bernie Maddof mean anything to you. Lets just hope he is wrong, so the jerks like you don't have to off yourselves.

    Anonymous

    Answer by Anonymous at 9:47 PM on Jan. 3, 2009

  • I think a lot of people in the middle class can still afford luxuries... and still pay their bills on time. I don't think it's going to be catostrophic, but I could be wrong... I don't think it will get to the depression level with the change in government, at least I hope not. I'm willing to make some changes if it starts to get worse, but it's a time of overabundance, there is still grocery stores full of really cheap food (not sure if it's healthy) when that starts to change then I'll worry more. My grandmother agrees that it wasn't as bad as it was made out to be unless you were near the poverty line. There are a lot more SOCIAL services than there were back then.
    TwocutiesMumma

    Answer by TwocutiesMumma at 9:59 PM on Jan. 3, 2009

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