Asked by Anonymous at 10:13 PM on Feb. 11, 2009 in Politics & Current Events
Answer by Anonymous at 10:15 PM on Feb. 11, 2009
we have a great possibility of that happening, I'm preparing for the worst and hoping for the best....
Answer by tyme4me2day at 10:16 PM on Feb. 11, 2009
Answer by rio_burb at 10:20 PM on Feb. 11, 2009
Answer by ashandamymom at 10:37 PM on Feb. 11, 2009
Answer by chickenhobbit at 10:42 PM on Feb. 11, 2009
Nope, not going to happen. Too many people are letting the media scare them. True, things are bad, but we really don't need to panic. The unemployment rate right now is around 7.6 % I think, and at the height of the recession of '73-'75 is was 8.3 %. During the Great Depression, unemployment was 25% and wages (for those who still had jobs) fell 42%. So really I doubt that things will get quite that bad. But it's good to be prepared, because things will continue to get worse before they get better. I just don't think it will be much worse than the recession on the 70's let alone the Great Depression of the 1930's.
Answer by anime_mom619 at 10:57 PM on Feb. 11, 2009
Answer by Anonymous at 11:08 PM on Feb. 11, 2009
Answer by Kelly913 at 11:08 PM on Feb. 11, 2009
Answer by JuLiAnSmOmMy317 at 11:19 PM on Feb. 11, 2009
It makes a difference only because it limits what the government can do as opposed to during the Depression. But we're just going to go into more debt to fix it. I'm still not buying it though. There have been many recessions since the Depression and a few have been very bad. This too shall pass, and I doubt that a large percentage of the population will be standing in line for soup kitchens. We really didn't even have the gas lines of the '70's when prices were high last summer. Every recession is different. But if you want to compare, a better comparison is the recession of '73-'75 or maybe the early '80's, not the depression of the '30's.
Answer by anime_mom619 at 11:43 PM on Feb. 11, 2009