Could we be headed for a depression worse than the 1930's?

[bobthedrummer]

Yes or No.

[MadisonProgressive]

1. Thank God we have prozac now

[laruemtt]

3. too bad we won't be able to afford it anymore........ n/t

[SteppingRazor]

2. No, a market crash like that of 1929 is no longer possible...

Along with many other factors, laws passed in the wake of that crash make it so that panic sell-offs like those that caused the crash cannot happen. The market holds when the ratio of sells to buys goes too high... one of the nifty government regulations of business and the economy that was passed in the FDR years :hi:

[GreenPartyVoter]

4. The market may not crash, but we still will be facing issues of

un and under-employment which lead to hungry and possibly homeless people.

[SteppingRazor]

6. Unemployment and underemployment can certainly be issues...

and likely will be in the coming years. But the question was, can we have a Depression like that of 1929-1935. I think the answer almost definitively is "no." I'll grant you, nothing's impossible, but it's extremely unlikely.


On edit: Edited to correct atrocious spelling

[GreenPartyVoter]

9. Well, think on it this way.. in addition to the lack of jobs we may

have to consider the possibility of more Katrina-type storms and other global-warming related disasters, other wars to stretch our military and coffers to the breaking point, the dollar losing its status in the world economy..

There are still enough variables out there that if they all lined up just right could push us in the direction of that sort of depression. It's not definite but I wouldn't completely rule it out.

[Yollam]

11. Exactly. The market has little bearing on most people's economic health.

Look how it has soared throughout the 90's and 2000's as working people's incomes have stagnated and jobs have evaporated.

I'm 100% sure that there will be a depression a la 1929, and the stock market may just love it. As long as the people who matter are still raking in money hand over fist...

[emdee]

5. Absolutely - yes....

Will our generation be able to endure it as well as our grandparents did? I have doubts about myself. Stupid Republican economics have never proven effective.

:freak:

emdee

[havocmom]

8. Ywp, worse. More people, less of them with any farm land

familes scattered far and wide, less kin to pull resources together and get through times of devestating economic downturn.

It will not be pretty.

Learn to garden, even if just in a window box or flower pot. Teach the kids!

[emdee]

10. While we usually do have a small garden....

and I freeze or can tomatoes and maybe homemade soup - I'm absolutely certain that I'm not up to doing it in the way and manner that my grandmother had to do! To her dying day, she voted Democrat.

emdee

[meisje]

7. Only on DU

[bobthedrummer]

12. Kick-if we can do polls now

[bobthedrummer]

13. kick