I am not sure what we are in. I graduated from college in 1981 and we had 8/9% unemployeement. Paul Harvey came over the radio to remind us that it was not all gloom and doom like most reporters were making it out to be. He re-stated their news as "we had 92% of Americans working"...a good point to think about. I did know that it differed from area to area back then as it does today.

I hope that it gets better for those directly affected very soon.

Dan

Personally, being a bit of a market pessimist, I think we have more problems ahead. Have GM and Chrysler formulated a working business model yet?

My big worry, though, is our treasury market. We've borrowed an awful lot of money from other countries who are going to want to be paid off eventually, and I honestly don't see how we're going to do that without seriously devaluing the dollar. Just wait until nobody wants our bonds anymore...

That's what I am afraid of.

We're in trouble,and sooner than people think. <img src="/ubbthreads/images/graemlins/frown.gif" alt="" />

I don't know how repesentative the yard is of the general public, but we come from different regions, professions, and ecomomic levels. It seems that we are about evenly divided on the question of whether or not we are entering a depression.

I think too a lot of us a recession is when your neighbor loses his job but a depression is when you lose yours. <img src="/ubbthreads/images/graemlins/frown.gif" alt="" />

The question remains if we are headed there. Like many have mentioned most people are afraid to do anything. Everyone is hoping that someone will come up with a solution and then we can all go back to our old routine. The fact of the matter is we will not be going back anytime soon. The energy concerns will bring about many changes in what were solid industries, such as oil. Food will also be an issue. In many places the droughts coupled with global warming are killing crop production. Longer life spans and advancements in medicine mean more people to feed and provide water for. Many changes will occur, many new industries will be born but it will take time and it won't happen without the cost of sacrifice.

People have to get used to the idea that our unnecessary luxuries will be cut back, if not entirely. The world is suffering much more than we are here and our enemies haven't stopped wanting to destroy us. If the mentalities change and the people begin to work towards bettering our nation/world then I don't believe we will head into the next great depression. My belief is that most people will choose not to change until it is too late. Too much dependence on someone else fixing the problem, ex. the Government.

The government can not run ANY agency effectively, let alone the Banking industry. An example is forcing banks to make loans to unqualified applicants who fail to repay their loans. And how many BILLIONS of taxpayer dollars are spent on ILLEGAL aliens - money that could be used to address other problems. Add to that corrupt and/or liberal politicians who will do anything to buy a vote! <img src="/ubbthreads/images/graemlins/mad.gif" alt="" /> People are going to have to assume personal responsibility for their lives, and not think the government should take care of them! <img src="/ubbthreads/images/graemlins/rolleyes.gif" alt="" />

I better quit my rant before I get REALLY hot!!! <img src="/ubbthreads/images/graemlins/doh.gif" alt="" /> <img src="/ubbthreads/images/graemlins/banghead.gif" alt="" /> <img src="/ubbthreads/images/graemlins/banghead.gif" alt="" /> <img src="/ubbthreads/images/graemlins/doh.gif" alt="" />

I got it! All we have to do is stop paying taxes...

Where have I seen this before...

Now that's a sure-fire way to become a ward of the state! <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

Nasty recession, yes. Depression, no.

This is a very interesting time we live in.

I voted that we are heading for world wide depression, and I believe that
we are in a severe recession right now. The problem as I see it, is the
perception of the general public.
If the general population fears that there are rough times ahead, then they
pull back their money for when things get tougher. Problem is, that when
they hold back their money then they slow the economy down, which then
contributes to the problem....slippery slope time folks.
Right now, we are very close to the point where you just start to slide.
You can get out of the slide still, but all it's going to take is one or
two more slugs to the economy and away we go.

My $3.95 ($0.02 adjusted for inflation, currency exchange, and taxes)