Another Great Depression?

[ml450r]

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.

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".

[coolex]

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

[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.

[derekhonda]

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.

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

[Matt37]

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.

[PHAT400]

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.

What he said..

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

[PolarisRider]

isnt your english teacher supossed to be teaching english? lol

[FMF450R]

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.

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.

[zeppelin]

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.

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

[ZeroLogic]

Maybe thats why shes a english teacher.