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Is this going to be worse than the Great Depression?

1. no.

2. depends on "all". If by "all" you mean "nuclear fusion in the sun", then I'm going with "no longer exist".
 
Originally posted by: manlymatt83
Keep political discussion out of it. Just looking for simple "yes" or "no" answers.
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Define worse? Do you mean we will all have to wear hats again? I personally am LOVE hats.
 
During great depression we had bread lines and unemployment at 25%. We are not even close to that and unlikely to see breadlines or such high unemployment. While we will have some reforms in financial industry, it's unlikely it will be a big ones.
 
Originally posted by: So
Originally posted by: techmanc
How can a depression be great?
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This time booze is legal on day one.
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Yesterday's booze is today's marijuana.

edit: poll options are foolish. The US will not cease to exist and it will also not be like the US of the 1990s or the 2000s. After all, Ace of Base won't be tearing up the chart, the Russian menace won't be so fresh in our minds, and the internet will already have been invented.

The US will survive this crisis like it has survived every previous crisis. It might put our economy in a bit of a tailspin for a while, but I don't think that the long-term quality of life here will suffer.
 
will not be as bad, just bc the overall quality of living is much better now for an absolute cheaper cost due to technology

i HOPE it will change this country forever bc our habits are unsustainable and our expectations are unreasonable
 
Nope. Not a chance. We and our government are too impatient to let a dozen years of horrible business practices be adjusted by simple market physics that require nothing more than time. Instead, we'll just "fix" it by throwing fake money at the problem companies and everything will be back to normal in a few years. We'll give jobs to millions of people that have nothing to do because no one is buying things from the companies they are working for and life will be grand.
 
once we eliminate the entire financial sector including the stockmarket... the depression no longer exists.
 
We were just all told today that we are getting 5 weeks, mandatory unpaid time off through the end of the year to help the budget. Then we were all told everyone get a 10% pay cut to go with it.

Gotta love the economy. I blame it all on the banks and finance companies. Those bastards
 
Originally posted by: techmanc
How can a depression be great?
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Because great, amazing, awesome, etc, don't imply it's a good thing. Just something of notable significance.
 
Originally posted by: Alone
Originally posted by: techmanc
How can a depression be great?
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Because great, amazing, awesome, etc, don't imply it's a good thing. Just something of notable significance.
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Oh, so you're saying it's a bad thing? No shit? :shocked:
 
Well. we are halfway through round one. Round two will be worse, and round three.......lets just say I hope it's not as bad as they predict.

 
This crisis has the potential to be. My prediction right now is that it will be almost as bad as the Great Depression, but will always be called the "Great Recession" due to the stigma associated with the word "depression." The US will have to retract many manufacturing and jobs that have been dumped overseas to start the healing and things will go back to about 20 years ago in terms of labor and production. Meanwhile, some other countries will surpass the US as super powers.
 
Originally posted by: looker001
During great depression we had bread lines and unemployment at 25%. We are not even close to that and unlikely to see breadlines or such high unemployment. While we will have some reforms in financial industry, it's unlikely it will be a big ones.
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Yeah. Things have changed so much since then that it would take a significantly worse crisis to cause the same level of suffering that the Great Depression caused. Not to mention we're actually taking steps to fight it, unlike the early years of the Depression.
 
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