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Would another "Great Depression" happen?

What's going to happen to America when the new Great Depression is here?

  • M3 is no longer reported by the Fed. They are printing money like crazy sinking the dollar. Eventually it will be paper. Even David Walker, the COMPTROLLER of the United States says so. So what will happen? What will happen to so many on the welfare system currently? What will happen to local laws, ordinaces (no poultry in neighborhoods for example). Thanks!

  • Answer:

    GAO Director David Walker has been conducting his Fiscal Wake-Up Tour for several years, and nobody's listening. But, he's absolutely right: America is headed for the worst economic depression in its history. America will soon be a bankrupt, third-world country. Nobody was listening in 1929, either. The champagne continued to flow. The politicians continued to be corrupted. The corporate interests and banking interests continued to behave like drunken sailors on a weekend pass. And when the Great Depression brought things to a crashing halt, no one had the gonads to stand up and take the blame for it. There are only two possible scenarios: If the Bush administration believes it needs to continue its 'war on terror' (which is nothing more than a sham, designed to deflect the truth about this being a 'war' to 'get even' with Saddam Hussein and steal all of Iraq's OIL), Bush will be ordered by his puppetmasters to declare martial law (which he can now do because he revoked the Posse Comitatus Act of 1879) after he invades Iran, citing 'national security' as the reason for not holding the elections in November. OR, there will be a very mediocre attempt on the part of the GOP to win this year's elections because they know the depression is coming (probably in October, 2009). That way they can blame the Democrats for it and come back strong in 2012. Yes, the depression is coming. No, there will NOT be enough ledges on tall buildings for people to jump from. -RKO- 04/16/08

Chris R at Yahoo! Answers Visit the source

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uhhhh i think it's gonna be a really bad depression and no one will listen to the local laws. But i guess it doesn't matter anyways beacause we (the USA) is so deep into debt and we'll never get out of it plus within a hundred years i belive that the world will end if people don't start to car eabout our environment and yea the whole world (especially the US) is in big trouble and the depression will come soon and it won't be good people will be hardly survivng as spoiled as most Americans are (including me)

i need a shawty

If you compare it to the "Great Depression" (why do they call it great anyway?) it really won't be much. the Depression you refer to as Great wasn't just in the US it was world wide. What will happen is Congress, who really controls the purse strings of the country, are going to have to start cutting funding to NON-essential services, and they are going to have to actually balalnce the budget for not just one year but every year. And we'll get out of it that same way we got into it. Slowly!

namsaev

Whoa, relax, I think you're getting a bit carried away. America is heading for a recession, no doubt about that, but a Great Depression is getting carried away. Things got pretty bad in the early 1980s, that's probably where America is headed now.

agent177

There will not be a Great Depression, let alone a depression -- we aren't even in a depression right now, it requires 2 quarters of negative growth... and we haven't had even one yet. It's just a lot less growth because of the high growth we had in q3.

Mike

We're going to become a third world country who won't be able to afford to buy the cheap plastic k rap that China Mart (Walmart) sells, and we'll probably all end up speaking Mandarin.

pink_angel

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