Do you believe there would be another Great Depression?

Being a fan of history. I'm starting to see a common trend before the Great Depression. People are skeptical of their countries economy! In other words they're tired of all the Bull! My question to you is do you believe a Great Depression happening again is possible? I believe so, and would hope it wouldn't be more severe then last time.

The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s.

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reply to post by ManOfGod267


Whoa 6 threads on your first day, slow down there turbo

Another depression?

You're in it.

Interesting question.
I will follow this thread to see what others think.
Are we in one? or how far away from one are we?

not only are we in it but I believe within 2 weeks another false flag event will occur as a distraction perhaps an earthquake or mini nuke or something were over due

I think the loss of perception of value to the dollar by the public is all we're still waiting on for a depression to start in earnest. As soon as that perception is measurably shaken, down it all goes. Everything else is already teetering right on the edge now.

Humanity has had it pretty good for a while now...
Even with the conflicts the last 50 years has been really a Renaissance of mankind.
If you take a look at history - we're due for some truly tough times...especially with all the corruption and false trust in our smoke and mirrors central banking system.

Hey, first post, I doubt this will be another great depression as long as we dont get sucked into protectionism. thats really what caused the severity of the great depression was ironically the lack of mobility of capital and to a lesser extent labor.

reply to post by Wrabbit2000


Well if its a controlled decline thats fine, but if it is violent then that will create some unnecesary counterparty risk. the thing about the value of the dollar is that the lower it goes the more jobs we get so, seems like that would kind of help right now.

reply to post by TOPStocker


We have nothing to be protectionist about this time and that is part of what has doomed us. We manufacture almost nothing now. We import even our basic textiles and staple supplies. What could we protect? Our military is honestly the only area we are still absolutely #1, without question. What a claim to fame...and even that is under attack with broad whacks at the budget with no real care for what or who is being hacked away.

Depression really isn't a question outside of when and how long.

reply to post by TOPStocker


Sure protectionism causes economic contraction - all you have to do is look at North Korea to realize that...

But what if it's not voluntary? China's gunning for us...half the world hates our guts...and we've made plenty of enemies.

If our dollar becomes worthless what's going to stop them from getting up and leaving when we sit down at the table?

48 million on food stamps, folks who would otherwise be starving. Question: What is a great depression if it is not 15 percent unable to feed themselves, 30-50 percent underemployed or not employed (by real day to day figures) and another significant percentage being kept alive by SS, and the FED printing away debt by creating inflation: worthless money?

Bread lines, is that what a depression is? We have them. Debt? We have it.

I'm so confused why folks think that some economic semantic technicality is meaningful, i.e.: recession vs depression. These terms are meaningless, totally and completely meaningless, they have no use or meaning whatsoever - none.

Historically, incarceration rate in the USA for federal and state prisons in 2007 was the highest on record.[34] It was 5.5 times greater than the sharp peak that occurred during the Great Depression at 137 per 100,000 in 1939.

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The above quote sums up this point nicely, all in one paragraph.

A close look at the incarceration trend in chart 1a reveals a dramatic rise in imprisonment rates during the period of the Great Depression (1929-1939)

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Source.

The Great Depression of the 1930s resulted in greater use of imprisonment and different public attitudes about prisoners. From 1925 to 1939 the nation's rate of incarceration climbed from 79 to 137 per 100,000 residents. Read more: Prisons: History - Modern Prisons - Incarceration, War, Imprisonment, Prisoners, Clemmer, and Blacks law.jrank.org...

In Canada...

I'm pretty sure it was the same during the Great Depression but I didn't look for a supporting article, however, here is a recent one...

The number of people incarcerated in Canada on any given day continues to rise, with the rate climbing by two per cent a year, according to the latest figures from Statistics Canada.

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I always thought the two were linked somehow, whether it be cause or effect...

reply to post by crankyoldman


I think you're right - the only reason it's not being called a "Great Depression" right now is because we've set up life support that wasn't there during the 30's...too bad for those people that they won't be able to pay for it much longer

reply to post by boncho


A depressed economy could be the reason for the increase in imprisonment - but I feel like I should point out the run up after 1969 may also be due to the "war on drugs"

reply to post by ManOfGod267


driving to visit a friend in NY state i passed by more houses with boarded-up windows, closed businesses and other homes that are obviously abandoned than i've seen in my entire life. gasoline cost me almost $4.00 a gallon and a pack of smokes was $10.00. unemployment is sky-high; there are illegal immigrants going back to Mexico for job opportunities there.

here in NJ they now charge $10 entrance fee to the Park System which is paid for by taxpayers. very few NJDMV inspection stations are still open, and they just check to see if your car will stop.

many families are back to eating rice & beans or pasta every day; meat is so expensive i don't bother looking at the cold case anymore.

our war-loving, clown shoe wearing fearless leaders in Washington DC have put this country into deeper debt than we can see our way out of.

let me know when another Great Depression starts. i've had it way too good for far too long.

Hmmm, lets see USA, does not build anything, the unemployment number is over 9.0 for months now maybe even years, and not quite that accurate to the truth, that even more people are unemployed. I don't think its a depression like the 30's was, but it is a depression, their is no growth and the state of the economy is being dealt with the same as it was in the beginning of the depression in the 30's..

Whatever job creation being made in the Unitied states right now is temporary and mainly service forms of labor..

Nothing being built and more and more factories closing down..

This economy was a curse and a blessing at first. A cheap economy was very attractive in the late 80's early 90's. When the tv broke instead of going out to get a repair man to fix it we just replaced it with a cheap chinese one.. Which drove out all the American made products, that was so marvel in the 50-60 heck even up to the 70 and 80's. The biggest red flag to the end of our economy was when the car makers gm and Chrysler went belly up.. We have been a sick depressed economy for a long time now...

This started a long time before the housing bubble..

If you look closely to history.. LOL (I am on a history binge tonight.) You will see we never fixed the great depression the first time......

I believe we are the verge of another Great Depression,but I think it could be much uglier than that of the past.

Many more people entirely depend on the government to survive,than in past.People in general rely much more on technology and the benefits of a huge economy.Those people of the past knew how to survive off the fat of land much better than most people today.Back then economic system was much more localized,for example many more small farms,with local markets,now most people get their goods from corporate sources.The sheer growth of population would also lead to devastation,more people need more resources that simply might not be available.Factor in the number of guns,with all of the suffering and desperation,and I believe the whole country would very possibly collapse.

I am a gun rights supporter,however desperate,starving,freezing people with a lot of weaponry could be very ugly.
I am not trying to fear-monger,I just believe if the economy continues to rapidly spiral downward for much longer, this country will implode.

Also to note I do not know exactly how bad another "Great Depression" would be ,because I'm not sure what it would look like,because the world is completely different than the world during our example of our worst depression.

I think our best bet to survive another Great Depression would be to basically disban as a nation (hurts to say that) and develop locally,and learn to trade and barter with other local settlements.Just my two-cents,I could be completely wrong however.

reply to post by Wrabbit2000


thanks for the reply this is my first day, we still have financial services, social media, software(microsoft), consumer electronics, even our education system is a commodity worth protecting. if china would force its people to pay for windows microsoft is double what it is today... would could have got protectionist when we were forced to bail out banks like dexia but we didnt, what we are seeing is the late 1970's latin american debt crisis in reverse. the only way out is to say ok work together or have everything explode in our face. did u know that as a % of gdp world trade in 1912 is about equal to today cuz the pre depression(US) protectionism that swept europe after ww1

reply to post by coldkidc


they wont turn their back on us because we control the printing press for the worlds reserve currency, here is one of my pet peeves on ats. Alot of people find alot of interesting things and make interesting points but atleast when it comes to currency which admittedly is kinda confusing. The reason why we are the reserve currency has little to do with stability or relational value it has to do with the fact that we are still the world's biggest economy and we use dollars to buy and sell stuff here, so no matter what they will always have to find a way to get our dollars. Im generalizing for the sake of simplicity

reply to post by Bicent76


What u don't think Americans can retrain for better more-value added jobs? If the market doesnt want your services u get new skills. thats the real question we have had it too easy for too long alot like greece. I like im sure many of u need to get back to work, and harder this time.