One definition of a depression is: A period of drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and unemployment.
1) Read one of these articles about whether or not we are in a depression:
- Moderate: http://docs.google.com/Doc?id=dhp2sncj_185g546c6f6
- Somewhat challenging (both pages, the article is from November): http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
- Challenging: http://www.newsweek.com/id/189571
2) Then, look at these charts that show economic information:
- Unemployment (try sorting by state or county): http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&tdim=true&q=unemployment+rate
- Inflation (look at the "forecast value;" a negative number means falling prices): http://forecasts.org/inflation.htm
3) After all that, respond to the following question in a formal paragraph of at least four sentences (eight sentences needed for full credit): do you think that we are at the beginning of a depression? Use parts of the definition of depression, information from the articles, and information from the charts.
88 comments:
I think we are going into a a omes and depression because like in the great dpression there werer car business goin out of business, banks are closing, people are loosing homes and business. Just like the great depression people are loosing jobs and no one is getting jobs.
This recession is nowhere near as bad as the Great Depression. GDP dropped by only 2% as of mid March. During the Great Depression, GDP dropped by 25%. Unemployment was 27% during the Great Depression. Now, it's 9%. There weren't social programs during the Great Depression like food stamps and unemployment. Now, there are. This recession is more comparable to the 1980s recession.
No, I don't believe that our country is at the beginning of a depression. Reason being the fact that unemployment in the great depression skyrocketed and reached over 25% whereas the country now's unemployment rate is only around 8% in the united states, and it looks like it's flatlining around there aswell. Although our economy isn't doing too well now, we still arent at the begginning of a great depression as devestating as the one in the 30s and early fourties.
i do not think we are in a great depression because our econemy is getting better. i think that the whole problem has been blown out of proportion. even though it is down the ecnomy is still not as bad as is said.so far this spring brouyght up the economy.
I think we are at the begining of a depresion. Considering that all the stocks have gone down. Even google is pretty low at the moment. If something isent done about this soon i think were going to go into a real depresion.
I believe we are headed for another Great Depression. Unless we act quick, our economy is crashing. The Great Depression back in the 1930's is similar to the one today. Like Banks in the 1930"s gave out bad loans and gave loans to stock owners. Today, banks gave out bad loans were made to homeowners and investors in mortgage-backed securities. The Great Depression had alot of jobless people which is similar to today. The percentage of unemployed people in the 1930's was higher than today but shows were on our way. So i believe we are on the road to another Great Depression unless we act quick.
by juan salazar
yes our economy is begining a depression because in the 1930s the stock market crashed. there factories kept laying off people. many banks at the time began to close down. right now the same things are happening but our home are begining to be forclosed. there is less job oprtunities. and people are lossing everything.
Reading the moderate article, to me it looks like are not in a depression. We are though in a very tough time. Like the depression their were people who are unemployed. In september 6.1% of people were unemployed. The stock market had fallen 42% since oct. 9, 2007. In 1929 the stock market plunged 47%. In 1929 banks stoped lending money loans to avoid further losses. By the mid 1930s more than 5,000 banks were closes. Todays banks have slowed down trying to avoid losses. The credit markets are very close to stopping. We are in a great deal of trouble but we are not yet in a depression. I don't think it will ever be as bad as the 1930s.
I think we are on the verge of another depresion. since 1929 we have been in debt. The stock market crashed again in 2007 putting the dow back in debt. one students opinon we already are in a minor depresion.
I dont think were nowhere near the as bad as the great depression. As of right now we are at a 9% unemployment rate. The great depression was 25%. Ik alot of people are out of buisness and living in tents but we can come out of it. We need the billionaires to stop being greeded, and the government to stop taking bonuses and work together with what we have.
by Tim Meeker
I believe that we are at the start of a depression. Whether it be a depression like the last, or have less of an effect. which ever it is it will be more devastating to the people than the last one, the people now are not as physically prepared. The people today are LAZY and SELF ABSORBED.
Tiffany Arias
I believe that we are at the beginning of a depression because the unemployment rate went up. The unemployment rate in this small recession we’re having isn’t as severe as the one in the great depression. But you can plainly see in the graphs that our rates are climbing and might even reach that level at some point in the near future. The graphs show that almost every state has many people losing their jobs. America is crawling to the top of the unemployment nation.
From reading the moderate it is not a depression.In the depression their were no people umemployed. The banking system was crippled by bad lonas and speculation. bank stopped lending in 1929 to avoid further losses, which slowed the economy even further.
I think that we are well on our way. I belive the quarter will end in the beginning of summer and we will then affically in a recession. This is not a depression but it would be close to one. Also as many politions are saying we need to start to focus our money on buying. This may sound crazy but Presedent Obama was smart in investing government money in stock because that would stimulate the econimy. I do belive however charity events are not the amartest idea as of now because we are headed into a time when noone knows if they can make it to their next paycheck. We can make the inflation rate decline by nit buying or we can make it so our money is worth more instedad of less. We could refuse to buy stocks oin the componies that are suking out or we could help by buying more of their stocks at a cheaper price.
Logan Ross
I do beleive our government and our society are headed for a depression, but on the other hand i do not think it will be as bad as the depression of the 1930s. i believe that the war on terror definetely put a dent in our economic prowess. Bush was a fool to sned our troops to Iraq and to make rash decisions as such. the amount of money that was put into violence, could have been used now. Now that Bush is out of office and Obama is the president i belive that he will help us get our country back on track.
I think that we are in a depresion for many reseons. One is that many car delearships are closing or going bankrupt. Another is that some of the banks are closing. People are getting worried that their bank will close and they won't be able to work their money so they are taking their money out of the banks. There are a lot of people that are looking for jobs and there is 8.1% unemployment rate. The United States has already lost over 13 trillion dallors and that had happened in mid 2007, when George Bush was still or president. The repayment of loans, lowering debt burdens, sets the stage for more more spending. That is why I think that there is going to be another great depression.
Yes, I think that our country is about to begin another Great Depression. every factor in the definition of depression is something that americans today are experiencing. For example, there are some americans who are unemployed and losing their jobs. Also, people are starting to buy less and conserve their money because they need to spend it on more important things. That is a decrease is business activity. In the unemployment chart, it says that more people are unemployed now than they were since about 2000. also, the chart shows that the unemployment is probably just going to keep getting worse. For these reasons i think that our country may be about to start another Great depression.
I think that we are infact in the beginning of a depression. However, unlike the Great Depression in the 1930's we might be able to go the other way. Banks are failing and we are hearing about unemployment everyday. There are big declines in stock markets. Banks have slowed lending to avoid major losses.Most say we are in a recession. These are some of the signals that indicate we are heading in the direction of a depression. But, with a new president this situation of the economy can improve or get worse. With this we might be able to avoid having a depression period, for the second time.
I am not sure if we are starting another Great Depression or not. However right now I don't think we have enough proof to say either way yet. The government could say either one but that might make people alarmists and they might do something rash... It does look (to me) that we are leaning SLIGHTLY towards some sort of crisis, but as I said before I am not positive.
IM ON A BOAT!
No, I do not think that we are in another great depression. That would be an overstatement. During the great depression, the unemployment rate was a whopping 25%. It is currently 9 percent, which is higher than usuall but nothing comparable to 25%. The GDP has only dropped about 2%, and in 1929 dropped 25%. Also, during the great depression there was no unemployment insurance.
Although we are in some tough times, I don't quite think we are in a depression. Times in the late 1920's and 1930's were really bad. People couldn't get jobs, there were many homeless people and so much more. During the bad times of the Derpression, 25% of the people were out of work, and the stock market had fallen 89%. The bank system was shut for four days. Unemployment in September was 6.1%. Times now aren't as bad but they could get worse. Right now people's wealth is decreasing, there have been big declines in the stock market, and a decrease in spending. The stockmarket fell 42% from its October 2007 high, to its October 2008 low. The government has been trying to do their best to prevent an economic meltdown because they are worried of another Great Depression. I think that if we really try to get things better than they are now, we will not end up in another Great Depression.
No, IM ON A BOAT!
I do not think we are at the begining of a drepresion. Sure stock are low, unemployment is up there is inflation but the stock have stayed mostly stable since they droped. I know the Dow has lost more than it has ever lost in a 1 Day period but it has gone up the most in a one and two day period The dow has lost 5000 points over the last year but in a range of 30 years the dow has gone up 7358.92 points or 909.41%. I do think we may be in a recession but no a depression
Honestly, I don't think that our country is going to go into a Great Depression. Even though we are in the same tough times, statistics show that during the 1930s, the unemployment rate soared to 25%. Our cituation is still only at 8% and this tells me that yes, there is still trouble to come, but not nearly as bad as in the past. Also, our country has been through this before. We should have more expirience now to prevent anything bad that happened before such as the GD. Banks should soon enough get more money due to the fact that people are working hard to find jobs. People will put money into banks and i dont know, maybe things will straiten out.
no i am deffinetaly the one on a boat
I think that we are at the very begining of a depression but its not one...yet. The article said that were not even in a declared recession. Also i noticed in the chat of the unemployment that puerto rico had up to 18% unemployed. I was thinking that maybe it is puerto rico that is bringing up the percent of unemployed in the U.S. On the other chart it showed inflation. The inflation was worse in the middle time period. It was about 2.8. So this shows that we are not yet in a depression but maybe one in the future.
By: Tom Ascenzi
No I do not think we are at the beginning of a deppression I just think the news are blowwing things out of poportion, just to make a story. That is why now there is less talk about because now they can talk about the swine flu. I think people would more likly spend their money if the news would just shut up. I noticed right after the news declared ression people held back on spending and car dealers stared to close. It would have been interesting to see if there would have been a change.Imyself only notice some business goning out besides the news I would hardly notice. I am basicly saying it is the news peoples fault.
Colin reilly
i do think that we are in the bigging of a depression. because people are loosing their jobs and the stock market is crashing big time. if you look are the data in the graph you can see that at the end there is a huge spike and that means that a large amout of people are strugling right now. I do thinkt that we might be able to find a way out of it if we tried hard. i think that the last presindent had alot to do with this. but we have just got a new one so hoppfully we he will be able to get us out of this before it is to late.
It's hard to tell right now if we might be heading into a depression. But I think that we are at the beginning of a depression. Even though the current unemployment rate is 8%, and the unemployment rate during the great depression was 25%, our rate is still going up. The rate actually spikes up during 2008. Who is to say it wont keep shooting up. There is also decreasing buisness activity. Everyday it seems the stock market drops. Banks aren't giving out loans. Maybe we will be able to reverse our econmoy's direction. If not we may be heading for a depression.
I can see how people can find similarties between these two time periods. But I don't think this recession is going to lead a depression as great as the Great depression. The unemploymnet rate his been going up at a very fast rate but it will not get to something like 25% or even 18% nationally. The graph is suprising though. At one point Connecticut had the lowest unemployment rate of 1.5% compared to south carolina's national high of 18.4%. This shows me that different states can be affected but that one state doesn't always have a large impact on the country's economy. The only thing I'am worried about is major job loss happening in a major state necessary to our economy. Like what is happening in Michigan.
No, I do not feel that we are at the beginning of a depression. Yes, the unemployment t rate is rising and there is predicted inflation. The inflation is a prediction and I feel that you must be very skeptical of productions. Also the government is taking different steps toward solving this problem. Hoover felt that the government should not get too involved and so he tried to stay out of it. Obama is getting much more involved than Hoover. Hoover tried to create jobs for people during the great depression. Obama is trying to bail out companies. So to sum it up no I do not feel that we are at the beginning of a depression.
After the Great Depression of 1929, bankers and economic leaders as well as government leaders should have learned from it and its mistake. Also, investors back then weren't smart enough to know that there wasn't any insurance on their stocks. Now we know not to put all our money into a shaky thing like stocks. We have to not take loans that we can't repay. That means no buying houses and having to take out a loan on half the cost of the house, that will take years to repay. Who knows what could happen to your finances in those years of debt. I've noticed that most of the stocks on NYSE have gone down. This obviously means that we can't buy a lot of any kind of stocks, in case they plunge like in 1929. All we have to do is pay attention to our loans and stocks. That willensure no depression. By, Richie Wilhelm.
I think that we are at the beginning of another great depression. This is because we are experiencing the decreasing business activity, falling prices and unemployment, which are characteristics of a depression. The unemployment rate has decreased over the past few years; this is shown in the graph of the unemployment rate over the past 18 or so years. This graph shows an increase in unemployment on the 1992 that then decreases for then to 2000 and then the graph increases from 2002 to 2004 but then goes down again before increasing in 2008 to about the same as it increased in 1992. So this shows that the unemployment has increased over the past several years. One of the examples of falling prices is in the stock market because of big declines that have reduced people's wealth and decreased spending. But I also think that it is going to take longer and gradually affect us this time. This is because we have already been through one and know way to prevent it or hold it off.
I don't think we are headed into a depression because I think the government is really trying to keep the government afloat. The stock market isn't near as bad as the Great Depression. The unemployement is at a low, but it still doesn't compare with the 1930's. The government is really trying to help us out, with the stimulus package and the bailout plans. When I was looking at the unemployement graphs, I saw the U.S. percentage, and then checked some of the other states. I checked CT, and saw that it was a lot lower than the U.S. percentage, telling me that some states aren't doing that badly.They have started acting now, and I think it's helping a lot of people. Back in the 1930's we weren't as developed and hadn't come as far, but in present day, I think we can escape going into another depression easily.
Yes, I do think that we're at the beginning of a depression. Facts show that this is true because of the higher taxes increase; Obama is raising the taxes and by him doing this the smaller companies can't afford to keep the business running. So they go out of business. This occurring is making people have less money. With gas prices continue to rise, people losing jobs I’m afraid to say that this is like another depression. Not only is that happening but we’re also heading toward inflation.
I think we are close to going into a great depression. Stocks are low and I think they will continue to get low. People are also losing their jobs just like the great depression. Also many car dealerships are closing or going bankrupt. Lots of banks are closing. The unemployment rate is going down now. Also banks aren’t giving out loans. We need to do something fast or we will be in a depression soon. The unemployment rate may be a lot lower than it was but I think it will go down even more. Also what was with that I'm on a boat thing?
IM ON A BOAT
This question is one that takes much thought. I do believe that we are headed toward a depression. Not that we are in one, but we are headed toward one. There are all these warning signs, the same kind of thing that happened in the 1930's. There are big problems with the stock market. The same happened back then too. Thousands of people lost money on the market. Another huge similarity is the unemployment rate. The average unemployment rate for March 2009 is 9%. That is almost an entire 10th of the country. There were many unemployed in the first depression, hundreds of people became jobless. A final similarity is the banking system. During the great depression the banks completely fell apart. They couldn’t afford to pay back the deposits so therefore many people lost money. Today it is not a severe but there are many problems with the banks that I believe will lead to more trouble down the road. Hopefully our new president can leads us out of it better then Hoover did.
Do I believe that there is another depression going? I say yes and no. The Great Depression decades ago involved the stock market crashing, people losing their jobs and homes, people not being able to buy food, people holding back on spending money because of money loss (causing the economy to crash), and inflation. The trouble the US is in today is the sky-rocketing high in foreclosures, people are losing their jobs, and the stock market is on the verge of crashing. Today is not as bad as the Great Depression, but I would say that we are possible getting there because the definition of depression states that, "A period of drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and unemployment." Today, there is a high in unemployment, struggling business activity, and decline in the national economy. During the time of the Great Depression, there was about 21.7 percent!!! Today there is about 9 percent!!! That isn't as bad, but I have a feeling that the nation is possibly going to suffer a not-so-much dramatic depression as it was in the 1930's.
I think that we are on the verge of a depression,but not really in one. We have good reason to belive that this is true. Just look at the facts, our stock market has completly crashed, 9% of our counrny is unemployed. Our prices are going up, and we have less money. The most significat depression in Amercia's history was the Great Depression. Is it possible that the name will be changed to the First Great Depression? I think so,because we are experiencing all of the things that happened during the Great Depression only slightly better. Things are not quite as bad as they were in 1949 but they are getting worse. We can't deny what a terrible shape our counrty is in now, and we can only hope that our president can help us out of this mess, or at least do a better job than Hoover.
This question takes alot of thought. I don't think that we are in a great deppression yet. But I do think that we could be heading towards one. The graph for the unemployed was very interesting. 9% of americans are unemployed. The great depression that happened decades ago was a stock market crash, people without jobs, inflation, and not being able to feed your family. THe great Depression was a horrible time and I don't thiunk that we have reached that point yet. Even though I don't think that we are having a great depression yet I do think that we are in great economic trouble. THe stock market went down 42% this year and before the great depression the stock market fell down 47%. This is why I think that we are in somewhat of a depression but not as drastic. During the Depression there was a 21.7% of people without jobs. Today it is only 9%. The Great Depression was much worse than what we are in today but we are struggling. This was a very interesting blog.
I do not think our country is going trough anothe great depression because no one is losing jobs and stock markets are not low
I think that we are in the beggining of another deppression. I dont totally think that we are in it yet, but we are on the verge of going into another. Look at the mumbers. 9% of our numbers are unemployed, and our stock market has crashed. While most people have less money to spend, the prices are going up and many people are loosing houses, jobs, and cant afford to buy the essentials. Soon in the text books I may not be able to deny that instead of the Great Depression, it will be called the First Great Depression. About 21 percent of people were unemployed during the great depression. Our country is getting worse and worse every single day. I would hope that our president will lead us through and make it better, hopefully Obama will be better than Hoover and maybe as good or better than FDR. All we can do is wait and see.
I am really not sure. A major reason the Great Depression happened was because of over preduction of goods (too many goods were made and there weren't enough consumers to buy them). Also, the wages didn't keep up with the prices, so workers couldn't buy luxury goods that were manufactured. Further more, alot of factories laid off workers, so when the depression hit, most of them basically lost there job. It was also because the banks had made unwise loans. When the Stock Market crashed, Bankers couldn't give depositers their money when they asked for it. Many banks were forced to close. When the closed, depositers lost ALL of there money (stupid bank people). I used my SQ4R when I wrote this. It is the best one I ever wrote
those song post things are stupid
I do not think we are heading for a great depression like in the 1930’s but I do think we are heading toward a depression. I think we are not going to have a great depression because now that the U.S has already experienced the depression we know how to take care of it. I also think that congress is working very hard to try to prevent it. Our economy has not stopped fully working yet and I think that we can use some of what the other president used to get out of the great depression. So far we got into this economic failure by almost the same way that we got into the other one. Just like the other depression people are losing their jobs and the stock market went down also a lot of companies are going out of business. We have not gone as far as people losing their homes and we are in a total depression but I think that if we don’t start fixing this problem fast we will hit a great depression
i agree with myself.........stop posting songs!!!!
The depression is a period when business slows prices and wages fall and unemployment rises. I think we are in a Depression. We are in one because the unemployment rate is higher than it was been 10 years ago. But the rate is still not as high as the great depression so we have small depression today.
I do think that we are headed towards a brand new depression. If it will be at all like the GREAT depression, I doubt, but a depression it will be. I feel very confendent when I say that the depression we are in is going to be something that will last at most maybe seven more years. Hopefully Obama’s stimules package will kick in shortly so this ressison wil be over and done with in the next few years. The reason I think the Depression we are in is as bad as the Great depreisson because the number of unemployment rates are way off, the GDP was dropped by 25% in the great depression. Now it is only 9%. The great depression was a horribal time and was no where near the perdicimet we are in. Oh and by the way, I’M ON A BOAT, OH YEAH. I did not write out the lyrics to the song, I just think its funny.
I do not think that we are in a depression yet, but i do think we are heading out to one. There are many signs that happend in the great depression that are happening right now. For instance the stock marcket fell a great amount. And many people have lost their jobs, just like the great depression. Unemployment went up 9% in the whole United States. Thats a lot. But in the Great Depression there wasnt a 700 billion bailout bill that is sapose to help us. I think that if we dont take a little more charge in it then we would be in a depression right now. But i think we are not going to be in one even though there are many signs of it.
I don’t think we will go into a depression. I don’t think we will because from my knowledge of the prior depression. The great depression started with the stock market crashing. Our stock market values have gone down but they are not terrible. The great depression wasn’t just caused by the stock market crash but the inflation caused by over production. Thankfully we haven’t had too much inflation yet. This all depends on the businesses and the government plans. These events can happen at any time and can send the enconomy crashing down.
No, I don’t think that we are headed for another great depression. The big reason why is that it is not 1930 anymore. We have much better laws and governmental organization to keep a repeat from happening. There are new programs to help keep a Great Depression, such as food stamps to keep people from starving. Programs like these weren’t around in 1930 and would prevent anything of that magnitude from ever happening again. These programs aren’t even need yet though, since it is nowhere near as bad as the 1930 situation. During the 30s unemployment rate peaked at 25%, and we are nowhere near that. Also the stock market went down 25 points in the Great Depression while ours has only dropped 2%. For all of these reason, there will not be another Great Depression now or ever again.
You've all seen the graphs. There are some drastic changes. Let's face it America (a.k.a SVMS) welcome to Depression part dos. The unemployment rate is ready to break the charts...it keeps on rising and rising and rising. We are all denying this country's fate, but BOOM..it's here! Lets talk to our new friend inflation. It's certainly making its stay here in the nation. Soon we will have to pay $1,000,000 for a loaf of bread. Well, not soon, but soon enough. "I never thought I'd say that in my lifetime." Argues economist Gary Richardson of UC Irvine: "This is the first business downturn since the 1930s that looks like the 1930s." This quote reeks of, "Oh my god! I have no money!" Take a look around...how many houses do you see for sale? How many of those houses haven't sold? How many of those houses had families living in them that we're kicked out? Those were all rheotorical questions, you know what the answers are. America the "beautiful" I don't know why I am so..."emotional" about this topic. Maybe because my own financial experiences put my thoughts into play. I believe 100% this is a depression and maybe it's a good thing. Maybe because of this Depression people can finally appreciate what they have. Most importantly, people can appreciate what is really a necessity. So we live in a Depression, but if people take this predicament and turn it into a reality check/real life lesson, when it's over America could be a different, but great place.
I think that we are in a recession and could be on the brink of depression, but we aren't in a depression. The unemployment percent is going up and inflation is on the rise. Banks are starting to fall out of the business and many businesses are asking for bailout money. Many families are also in finacial trouble and their houses are in foreclosure. Everyone is cutting back on what they buy. As a result demand are going done and small stores are having to close their doors.
Judging from the article I read, I don’t think we are going to have another Depression. One reason is that in contrast to the beginning of the Depression, nobody tried to prevent it, however today people are awe of the situation and are taking precautions to prevent another Depression. Also there is only a 9% unemployment increase where in comparison to the Depression, every 1 in 4 people are unemployed. Although this may not be the Depression, there will be tough times ahead.
I think we are at the beginning of another depression, because the unemployment rate has gone up 9% since 1990. There has also been a great decline in the stock market. Many businesses are asking for bailout. And we are in debt to other countries. Not to mention that we are currently fighting a war in Iraq. So out of all that's happening I do think that we could be at the beginning of another depression.
IM ON THE BOAT!
I believe that we are not in a great depression nor are we near one. in the 1929's there wasn't a FDIC that would have refunded any money from the banks that went under to it's rightful owner. Also currently the enomployment rate is at 9% in the early 1930's the enomployment rate was 25% that is a big difference so I believe that we are NOT near another depression
I belive that we are not in a depression because a economic depression "is a sustained, long downturn in one or more economies". the unemployment rates in the great depression was about 25% Right now were are only at 8.9% .it will/would take awhile to reach the rates in the great depression.
Stephen wrote that
Did not
No. I am definatly on the boat
i would say maybe because the great depression was spread out oer a long period of time we cant rly say that were having a depression because were so little into the job losses,its possible cuz people are not buying tas much as they were like in the 1930s and the banks are going under like in the 1930s and people are getting in debt and everything was a mess which is wats starting to happen here so i am more towrads were having another depression but i hope it wont happen
I do think that we are in the beggining of a depression. Because, people are losing their jobs, losing thier houses, and can barley afford to pay for food. This leads me to think that we are in a depression. The economy is horrible and people are not taking time to think about what is going on.
Cassidy W.
i dont think were going into a great depression. i think its just a fluxuation in the stock market.
the stock market goes through all sorts of fluxuations and we have recessions every 10 to 20 years. i think the reason this one is being hyped by the media which could and probably did lead to pink slips
Ethan,
I do not beleive we are in the begining of a drepresion. I Think that we are going to have a long diificult time with our economy but i don't think it will get as bad as it was in the 1930s. Because in the 1930s 25% of the population was jobless and today only 9% is. Also the major reson for the depresion in the 1930s was because of overpruduciton. And we don't need to worry about that because right now we're underproducing. Another reason I don't think were going into a depresion is because the stock market crash didn't cause the depresion it only shook people up and made them not buy the products america was over producing.
I do think that we are at the beginning of another Great Depression because the economy is terrible. One example of this is the stock market crash, Also people are going bankrupt and becoming unemployed. this is what happen in the beginning of the Great Depression, but today we have plans to prevent it from happening. for example to FDCC gurantees if a bank goes bankrupt, then the federal goverment will pay you up to 150,000 dollars. This will keep the economy going even if its at the verge of destitution. so i think the economy is getting worse, but it will never end up like the Great Depression.
i do think we are at the beginning of a great depression because in the deffinition of 'depression', we are going through a drastic change in the national and international economy. This is shown by decreasing business activity, falling prices and unemployment. Thousands have been affected by the increasing unemployment rate icnluding my family. My mom has lost her job at New Milford Hospital cardiac cath lab because of the low patient count. She now has to re-locate at Bridgeport Hospital where it is about one hour of a commute. Also, studys show that The Dow (a stock market) didn't fall steadily: it plunged 47% from its high of 381 in September 1929 through November 1929 and then started a famous " sucker's rally" in the spring of 1930 before plunging to 41 in july 1932. So that shows how much it could drop, and is droping by now.
im on a boat haha
i do think we are not in a dapression. this cycle happends about every 10 years. i think we are at the worst of this recession. if the condition gets any worse, than i think we are in na dapression. i think this because if it gets worse it will not be part of the cycle, the stock market does go up and down though...its just a fact
cornel stop posting songs
i think its just a matter of time before we are in another depression the way everything is lookin wright now its gonna be sooner than we think unless there are some serious changes its gonna happen.
I do not think we are in a depression. We might be at the start of one because the signs are there. There are failing stocks and unemployment, but if we keep solving problems like we are trying to now i don't think we will get into a depression. I think the main problem is unemployment right now because 9 out of 100 people are unemployed. This is alot, almost one out of 10. The inflation chart seems to be getting worse but in the end the numbers go up again. So we are at the start of one maybe, but not going to get into a depression even more than that.
Thomas Andrews
No i don't think we are heading into a depression, unemployment is nearly not as bad as in the 30's and now the government has programs to stop the economy failing such as unemployment benefit. Also the government has put interest rates at 0% so people can save money.
I think that we are heeding into a depression because 25% of the population was out of work. The most worst thing is that the stock market had fallen 89%. To me I think that is ALOT.
SORRY THAT THIS WAS LATE
Post a Comment