is there any possibility of the USA getting into "THE GREAT ECONOMIC DEPRESSION" as in 1929 in near future...?
84788
Yes.\n\nThe main causes are \nA) increasing financing of our federal debt by foreign countries. If China decides to stop buying our debt, or worse, asks for an immediate payback, we'd be unable to finance many of our present governmental functions. Of course, we'd find a way to keep the police departments and such running, but it'd require massive congressional overhaul, governmental regulation of an enormous scale, and a huge upheaval in our free market. \n\nB) the increasing cost of oil. If oil barrels hit $100, you'd see gas prices of 6-7 dollars per gallon. Huge layoffs, massive stock selling, and sky high prices on goods and services. Milk would be four or five bucks a gallon. Coffee would cost 12 or 13 bucks. Inflation would drive all prices up, interest rates on credit cards could exceed 40% annually as a rule, and the entire populace would be close to bankruptcy.\n\nOf course, we'd find our way out of the mess. But, for a few years, it'd be like the Great Depression all over again.
1020697
Don't look for that to happen anytime in the near future. Haven't you been paying attention to what we've just rose up out of? The only recession I see is what the Dem's tried to force on us over the last couple of years.Look at the heavy highway traffic over the weekends. Go look at all the boating on the weekends at the lake. Doesn't look like people are afraid to spend money to me.\nAs far as homes go, there are dozens of huge subdivisions going up in just about every direction I travel. Half of all those homes are sold before they are ever finished.  Almost all the contractors I know are building spec houses that are sold as soon as they hit the market.
1015453
I'm sure you could probably find it on wikipedia.com or something.\n\nBut to 4A:\n\nThe Great Depression resulted in a more secure way to organize the U.;S. economy in the furture.  Like they have to check to make sure stocks are worth what they are selling for or something like that.  People would get all of their money back if there was another depression instead of totally losing it all.
4150
Most definitely. As the leader of the United States during arguably the most difficult time of our history, he pushed Congress to pass emergency bills and reform measures that helped improve the economic situation in the eyes of the public. Though many historians say the beginning of World War II ended the Depression, I think that if it weren't for FDR's leadership, American morale would have fell too far to possibly recover economically.
573810
You're absolutely right.  We can't afford protracted wars when we owe other countries trillions (espeically Japan, China and Germany).\n\nStagnation with inflation (called "stagflation") and high unemployment is the BEST and "softest" landing I can think of.  The economic future of the USA is risky at best and bleak at worst.
147343
Yes Mike, it's all very well about trust, but what happened in 1929?   Something similar may happen soon.   9/11 set the process in motion; Bush is carrying it further.  Thank goodness I'm a poor man, with little to lose.  You rich people had better buy gold or Chinese currency soonest.\nQuestioner bulabate is very near the mark when he talks about printing money - whose head is in the sand - his or Mike Gilbert's?  I reckon your's Mike, rather than bula's, not that I know much about the subject : in fact I don't think anyone does; not even Alan Greenspan.
1148226
Possibly at some time in its history. Read the linked article.
1007014
Nobody knows how long the large US trade deficits can be sustained.  But most economists say that these deficits cannot continue forever.  And the more these deficits accumulate, the more likely it becomes that investors will panic and sell off the US dollar.   \n\nOr the countries that are accumulating the US dollars now may want to spend them in the US some time in the future.  And such spending will cause inflation of prices.\n\nOr countries that are accumulating US dollars now may continue to hold them in US government bonds which pay interest.  And eventually these interest payments will become so large that much of US tax dollars will end up going to foreign countries instead of being used for the benefit of US citizens.\n\nNone of these scenarios are good.   But there is no easy way to cut back on these trade deficits.  People in the US are used to live beyong their means.  And such a habit is very difficult to break.  People will change their spending habits only when economic circumstances force them to.
266203
in the next 5 years there will be a lot of people unable to pay their mortgages, so a lot of repos.  in 10 we will be recovering from the disaster of the "hidden inflation" technique of money management by the Fed.  in 25 years we will be asking China if we can have some input and a share of their base on the Moon.  in 40 years there will be no unions, and no consumer protection.  in 50 there will be a great depression, followed by the rise of a labor movement, and the restoration of consumer protections.  Rinse & repeat.
522019
Because of the Great Depression
658955
The Great Depression was a worldwide economic downturn, starting in 1929 and lasting through most of the 1930s. It ended at different times in different countries. It centered in the United States and Europe, but had damaging effects around the world.\n\nPlease read the below article... it is precise and informative...\nhttp://en.wikipedia.org/wiki/Great_Depression
649738
Mr. Rogers (jrogers) obviously doesn't understand economics. The US economy has very serious structural problems that the Fed nor the American people can fix easily. If they do without some kind of crash, it will be a long and financially painful process for all Americans. Some of the problems are - National debt, government debt, dependence on oil that has limited supply, negative savings rate in 2005 (first time since the Depression) = weak dollar, inflation...the list goes on. \n\nChina will have economic struggles when the US starts falling apart as the US is China's largest buyer. But in the long-term, China has a much stronger base and will still be able to maintain growth throughout US decline as their local consumer market matures. \n\nThis is something that could have been predicted 10-15 years ago. We are now in the middle of it. Wait 20-25 years and you will see the US struggling to hang onto the last vestiges of it's once great and formerly the world's largest economy. Large strong economy + military/political might = Superpower.
321940
I think at this moment in time, anything can improve the economy.  I can't even imagine it going downhill from here.  It has gotten so bad in some parts, the only place to look is up.  I think the only thing that can bring the economy down is shipping off millions of immigrants who take the jobs that most native citizens couldn't afford to take anyway.
443248
If you are talking about F.D.R. The great depression was a major cause of the New Deal, he was basically trying to boost the economy. If you want to know more about the Great Depression then you can contact me.
434243
When a government prints more money and puts it into the system, it causes HYPO inflation, and then instead of needing 3 dollars for a gallon of gas, you will need 30,000 dollars.  It causes way too much problem.  You do not want that to happen, no jobs, not work and not trillion of dollars to buy it with.  \n\nNo other country would trade with such a country and eventually that country would fall into depression and total collapse.
396975
The stock market crash of october 1929, pulled a lot of money out of the American economy. Less capital => less investments => less jobs => less salaries to spend => even less capital to invest.
375122
Bush's support is currently in the mid 30s. It has consistently gone down his whole time in office though, so it will probably drop further.