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Great Depression 2 by 2011?

November 22nd, 2008 at 06:00 pm

This morning I read a thought-provoking

Text is article and Link is http://www.marketwatch.com/News/Story/well-great-depression-2-2011/story.aspx?guid={B28B49B5-EFD1-4941-B57E-A2BA1545BA09}
article that predicts a second Great Depression by 2011. I like to think of myself as a positive person and try not to fixate on doom and gloom. But, I do believe this article addresses some of the issues that are contributing to the general instability of the economy. And, apparently at least 1,665+ people were compelled to comment after reading it. How I hope Paul Farrell is wrong this time.

Posted in Live and Learn | 7 Comments »

7 Responses to “Great Depression 2 by 2011?”

  1. monkeymama Says:
    November 22nd, 2008 at 06:28 pm 1227378501
    1227378501

    I guess I am curious how long of a recession there was before the Great Depression. Seems like we have barely got into recession territory and everyone is expecting the worst. (Heck, predicting Depression before we even hit recession).

    Then again, it seems like there are a lot of similarities between now and the 1930s.

    & I just had to comment about the 1665+ comments. O.M.G. !

  2. campfrugal Says:
    November 22nd, 2008 at 07:10 pm 1227381022
    1227381022

    Michigan has been in a one-state recession for a couple years. I don't doubt, that if the Big 3 fails, we will be in a depression before other states. For sure, we will be depressed.

  3. Brenda Says:
    November 22nd, 2008 at 11:30 pm 1227396634
    1227396634

    Same goes for Ontario, Canada. The GM truck plant is closing.

  4. fern Says:
    November 23rd, 2008 at 01:06 am 1227402380
    1227402380

    I read Paul Farrell often. He is very doom and gloom. Let's hope he's wrong.

  5. terri77 Says:
    November 23rd, 2008 at 05:56 pm 1227463017
    1227463017

    I think we are in a pretty dire situation. There's no way to predict with 100% certainty what will happen, but I'm doing everything I can to protect myself should things get much worse.

  6. analise Says:
    November 23rd, 2008 at 07:08 pm 1227467338
    1227467338

    terri77 - I'm with you... I'm fervently hoping it won't happen but taking steps to protect ourselves in the event the economy gets worse.

  7. Retired Syd Says:
    November 23rd, 2008 at 10:47 pm 1227480477
    1227480477

    I thought #29 was a very interesting point, that our anti-tax mantra is actually a contributing factor to his worry about us entering a depression. Kind of flies in the face of conventional wisdom (that reducing taxes gets you out of this pickle). Interesting that it could actually be a hindrance, not a help, to cure the problem.

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