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I was going through US history today and we touched on the Great Depression (I don't have a very good teacher). So I wasn't paying attention and I thought we were talking about present day and how everything was going to **** economically. So I pose this question, do you think we are due for another major depression?

Debt cycle- Americans are using credit cards like candy, driving up their own debt. This in turn reduces their ability to pay, and they stop buying. Then demand for goods go down. Workers get layed off. They run up debt. Yada, yada. Its being doing this for the last 10 years.

Maybe I'm nieve, in fact I'm sure I am. But come on.
 

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I don't think we're in for another depression like the great depression no..

People often forget quite how serious the great depression was.. Of course, it was even worse in other parts of the world, Germany for example, but even in America the situation was abseloutely desperate. I can't see things getting like that nowadays.. we live in a period of relative economic strength.

Things haven't exactly been going brilliantly, but to be honest, they could be hell of a lot worse.

Borrowing legitimately on credit cards actually fuels the economy, because, don't forget, you're buying stuff with your card. What is destructive is people running up debt, going bankrupt, and having that debt erased. Which doesn't happen as often as you might think, since few people want to go bankrupt. A few do, of course, and they're parasites..
 

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There might be....if Bird Flu has an outbreak.
I was watching a TV show on it, and it said that after it hit most conutries on earth, people would sell all there stocks and junk. Prices would go up because no one was making products anymore, hence very bad enonomic troble.:yes:
Sorry, im not too go at economics...
 
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