Depression? Is it coming?

[Rhett&SarahsMom]

Our government has been denying the "recession" for months.
I think we have been in a recession since October 2001. It seems like they are scared to use the word.
But now, from what I have been reading in the research I have been doing, it seems as though a depression is a growing possibility. Although I am sure the word "depression" will never cross the lips of our current administration.

Am I crazy to be thinking it is going to get A LOT worse in the not so distant future? That we could be facing a depression?

I am posting this question/comment/thread starter here because on my other board they seem to be totally out of touch with reality.

 

[Guitartists]

I'm waiting for it..... our mortgage company informed us that Michigan has been declared a "Depressed state"

 

[happyhen]

I think we passed recession and we've been in a depression the last 6 months, just not by "definition". I agree our government will never use those terms.

Don't panic, hide your heads in the sand and keep spending! We gave you that economic stimulus check! Spend, spend, spend! (On gas, food and basic necessities.)

 

[ChuckenGirl]

Maryland is horrible with money and how expensive everything is. I think were headed for a depression, so my family is preparing now.

 

[DrakeMaiden]

I don't think you're crazy.

There are a lot of events converging.

I won't give you a lecture. I will give you one fact (of many I've read). House values have fallen farther than they did during the worst part of the Great Depression. If you take today's inflation (of all consumer goods) into account, then values have fallen even more sharply.

Wall St. didn't fare so well today either.

 

[SterlingAcres]

I keep telling my dh that a depressions coming, but I'm not sure if he's as serious about it as I am. We're doing our best to prepare for it now, hence the homestead.

 

[kodiakchicken]

Yeah, I totally agree we're in a depression. I think something is going to seriously collapse at some point too. People keep saying that fuel is going to get up to $8.00/gallon in the next couple years but I think the economy will have to completely plummet before that happens.

I wish there was a way to get the American people to unite and just tell the government we're sick of it! We can't afford to fuel our cars or feed or families yet we're still tolerating the gov't sending aid to foreign countries, using our soldiers to fight a losing war while our country is being overtaken by illegal immigrants and asking our own people to submit to such demeaning treatment like taking our shoes off in airports and throwing out our toothpaste, all in the name of homeland security!!

Come on, how much are we going to put up with before we say enough is enough! It's our darn country and the government is supposed to do as we say, not the other way around!!! People need to get off their butts, do away with all their niceties and start learning how to work hard and demand satisfaction from their government.

 

[Stormhorse23]

I just sold a grulla stallion at an auction for $10 for someone. YES we are in a depression

 

[MayberrySaint]

Unemployment rates are 5.5%...one of the lowest in the civilized world. Gas prices are $4.00 per gallon...they have been higher in Europe for the last 20 years. The vast majority of foreclosures are due to people borrowing more money than they should have and living high on the hog. Interest rates are extremely low...remember 1981? They were 22%. The vast majority of people who are in financial trouble are driving $40K SUVs...eating out constantly...living in McMansions and spending way beyond their means. It seems like most people think they deserve a vacation every year...cell phones for the whole family...250 channels of cable TV, etc. Yes...prices have gone up...tighten your belts and ride it out. Make a budget and stick to it. Work a second job if necessary. We are no where near a depression...20-30% unemployment...soup lines...mass migrations to California, etc.
An example of the hysteria of gas prices...if you drive 18,000 miles a year and get 30 mpg...a $2 increase in gas prices costs you $3.29 per day. I think I can definitely, skip a lunch out and pack a sandwich or put-off buying a pair of shoes each month to offset the gas increase. Now... if your vehicle doesn't get 30 mpg and you are driving a behemoth, you only have yourself to blame.

 

[FutureChickenMan]

^^^ What he said.