Another Great Depression?

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Originally posted by MOFO
Panic causes a depression - if people would just ride things out, there will be no depression. If people start to panic and pull their investments and close out bank accounts (a very large number and @ a fast rate)... then we have a problem.

Now a recession, yes, those do and will happen... its the nature of our economy.

We will not have another Great Depression - nothing that severe. I believe the only thing that would or could cause a "great" depression would be MAJOR attacks on our soil and some form of a world war.

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well said

Deprssion...no
Recession....yes

There are many differences from the late twenties until now. Things are in place that were not back then.

Your teacher is a "nut".

i do not believe there will be a depression because we have a lot of things in this nation prevent it

I thought that sounded sort of weird when she told my class that. I was just wondering what you guys thought about the subject. Oh ya and what is a recession.

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Originally posted by 161xchonda
I thought that sounded sort of weird when she told my class that. I was just wondering what you guys thought about the subject. Oh ya and what is a recession.

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recession is defined by two consecutive quarters (so 6 months) of negative economic growth.

Yea, recessions are fairly common.

Well, they are more common than depressions.

I do not see a depression occuring in the near future.

Unless something drastic happens, The stock market crash of 1929 played a big role in the depression.

Quote:

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Originally posted by MOFO
Panic causes a depression - if people would just ride things out, there will be no depression. If people start to panic and pull their investments and close out bank accounts (a very large number and @ a fast rate)... then we have a problem.

Now a recession, yes, those do and will happen... its the nature of our economy.

We will not have another Great Depression - nothing that severe. I believe the only thing that would or could cause a "great" depression would be MAJOR attacks on our soil and some form of a world war.

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What he said..:o

Just keep spending.... nothing helps out the economy like good ol spending...

isnt your english teacher supossed to be teaching english? lol

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Originally posted by 161xchonda
She was telling us (my class) that we do not have enough gold and such to back up all the money we are printing.

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Its a hoax, the US Treasury no longer uses gold to back up the currency it prints. Tell her to stick to English, not Finance.
:rolleyes:

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Originally posted by FMF450R
Its a hoax, the US Treasury no longer uses gold to back up the currency it prints. Tell her to stick to English, not Finance.
:rolleyes:

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damnit you beat me to it lol, yeah your teacher is a moron, the us converted from the gold and silver backed system in the 70's

Maybe thats why shes a english teacher.:)