As the stock market is plunging, many Americans are wondering if we are in an economic depression yet. Please read "Is it 1929 Again" by Robert J. Samuelson and answer the following:
Do you feel the recent economic problems in the United States have pulled the country into another Great Depression? Give good reasons based on what you read and your opinions.
Go to this or search the article's title:
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/05/AR2008100501251.html
Oct 7, 2008
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18 comments:
I would believe that America has went into a Great Depression already. Due to the rising prices of everything in the economy and including gas prices. There are so many problems with America that it would take years for us to live decent lives without as much worry. Stock markets are losing value because no one basically has the money to invest into stocks anymore because of the crisis with the economy. Thats why I think we're basically into a second Great Depression.
$700 Billion Bailout
I believe that the economy wont get better anytime soon because it will take about 10 yrs. for it to get back going, then another 2 yrs. to get it back to what it once before when Bill Clinton was in office. I mean look, AIG spent $400,00 of the taxpayers money on a hotel bill that theyr ran up and now they are scared because they cant pay the money back. The economy is broken and shattered and now you can no longer trust anyone with power anymore. The Republicans are the ones that jacked this country up in the first place because they put Bush in this office and they've been money from up under the table and over the table and nobody wants to confess!
I don't feel that we're in a Great Depression just yet, I believe we are still in a recession. The Great Depression was horrible, and I don't feel we're quite there yet. But we're coming close, I can see us being in something worse then the Great Depression, so we need to fix things before its too late.
The world has reached another Great Depression yet again. As bad as the economy is it will take about another 20 to 50 years before we are able to live like we use to. No one can put money into the stock markets making them lose value, banks are shutting down because they can not afford to stay open. So the question "Are we reaching a second Great Depression?" is really irrelevant. It is a question that really does not need to be asked.
I do believe that we are going into an economic depression, because the U.S.is constantly raising the prices of things. Such as gas, goods, and products. Bush really messed up the United States and has it going into a depression. Robert was talking about how Americans are paralled, but have big differences.
From a broad perspective, this is an economic depression. The stock marketing is at it's worst in history. We're not exactly in another Great Depression because there are still jobs that are available. Prices on things do flucuate from time to time because of the economy change. There is no job security anymore, unless your job is white collar and makes complete six figures. People who have blue collar jobs have had to down size from larger homes to smaller sized homes.
We of course are still on the verge of having another Great Depression if these issues are not fixed. It's sad that we have to go through this whole situation.
I disagree with Courtney's and Shareka's statement. For Courtney, it's not the world that's in a Great Depression, the United States is in an economic depression, we have not quite reached a Great Depression. Shareka, we're not in a Great Depression, once again we are in an economic depression. Things seem to flucuate between gas prices, which does play a big part; homes being foreclosed and other situations that fall in these catgeories. Watch how things need to change and you'll be able to differentiate the unstable economy at this time from an economic depletion and a Great Depression. In the Great Depression there no jobs avaiable, there are still jobs available at a few places.
What Shara said makes alot of sense. We need to hurry uo and get a new President before Bush runs our economy completely into yhe ground. If this does not speed up then we will end up in something worse than the Great Depression within he next 2 years.
I don't think that it has brung us into anohter Great Depression. We are in some rough times but I don't think that it will get that rough anytime soon. I do believe that we are entering an Economic Depression at an extremely fast pace. Banks on wallstreet and other companies are going bankrupt. We are in pretty bad shape. We need help and we need it now.
I am commenting on Shareka's blog I don't think that we are in a Depression we are only in an econmic depression. Which means that the prices of product and prices of gas are going up.
I for one disagree with Sarah-Chan's statement because we are in a Great Depression, this is no longer a recession. Bush has struck and crumbled this once prosperous nation in 2 terms and it will take about at least 10 yrs. to get it somewhat back to it's former glory. The Republicans have got in office and sent this nation staright to hell in my eyes and yet they are still getting paid under the table and everyone acts like they dont knwo what's going on...
The United States has had many problems in the past 8 years. Yes, I feel that The United States has been put into another great depression about unemployment rates, gas prices, and even health insurance policies and health rates. We (Uninted States) just need another great leader (president) to help us, so the United States can be back to noraml.
I disagree with Shanaye' we are not in another Great Depression cause the Great Depression was far worse then what we are in now. We heading for another Great Depression if things don't change yes, but I believe we are not quite there yet. Shanaye' DON'T CALL ME SARAH-CHAN ON THIS BLOG!!!!!
I would'nt say were quite at a Great Depression, but we are surely on our way towards one. Reason we arent quit at one because all of the banks have not failed. While they are on there way to failing. So I believe we are on our way because the real Estae market is at a low, and also it's hard to get a loan for just about anything. This is why I believe we are on our way towards one.
I am commenting on Ashly's blog. She is absolutely right. There is no job security for anyone. Even the most needed jobs such as doctors don't have any job security. We are in very bad shape.
I believe that America is in a recession not depression. There are jobs still available and gas prices lowering as well as raising but the economy is suffering tremendisly. Even though it is going to take some years to fix it I am willing to wait.
I disagree with Shareka we are not in a depression. When we were in the Great Depression people selling fruit on the streets because there were no jobs at all and times are not that hard for us to be selling fruits and vegetables in the middle of downtown Detroit.
To me I believe that the we were already in a Great Depression. Look at who are president was, look at everything thats going on in the world. It seems like it'll never get any better but it keeps getting worse for us.
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