Are we heading for another great depression? (Or is this more liberal propaganda?)

none ^ | now | me

[Big Guy and Rusty 99]

Are with heading towards a new great depression? All I hear is talk of economic collapse. The European markets seem to be getting crushed right now. The Dow has not responded to the "miracle of the bailout" and I am not sure what to think. I believe in the magic of the marketplace and that we will be back on track soon, but I want to hear your opinion. It would be really great if there are any economists in the crowd.

[Big Guy and Rusty 99]

what say you?

[Schnucki]

They couldn’t lose the war in Iraq so they need ruin something else in order to get votes.

[reaganaut1]

There is no clear dividing line between “depression” and “deep recession”, and I do think we are at least headed for the latter. Please the thread http://www.freerepublic.com/focus/f-news/2097002/posts with Goldman Sachs economists’ forecasts from Friday.

[exile]

This will be portrayed as the Second Great Depression until Barack Obama is installed as Fuhrer. Following his coronation, suddenly the experts in the press will discover a new era of prosperity and hope and cotton candy etc.

[Texas Songwriter]

Yes! And what is more, there is nothing anyone on earth can do to stop it. Have a nice day.

[tcostell]

A recession is pretty much a foregone conclusion, and in the New York City area it will probably be worse than average because of all the job loss in financial services. A depression would depend more on the next president. If he brings a bunch of anti-business tax hikes and regulation to the game then yes, I think it's possible we'll fall into a depression.

Neither candidate is a strong choice for economic reasons, but all things being equal I'd have to say McCain is the better bet. Obama is too unconstrained by reality.

[TexasCajun]

Technically, I believe, we are not even in a recession.

[NVDave]

I think perhaps it is time people quit yammering about 1929... and started reviewing the history of 1873.

[Cringing Negativism Network]

I predict this “recession” last precisely, until November 5th.

[RSmithOpt]

I agree...deep recession and global too because it will take time for new rules to be written and employed for GSE oversight and associated derivatives. The global Ponzi scheme created from the unregulated over leveraging is huge....3-5 times the GDP of the US.

What we will see is the eventual redistribution (globally) of the US's toxic mortgage loans.

Hopefully BO will not be elected or it will be a huge depression because the socialists in Congress will do nothing to tighten up the corruption.

[JimRed]

Of course it is lib agitprop.

4% of subprime loans are in default, but that means that 96% are NOT!

6% of Americans are out of work (and how many are they overcounting?) but 94% are working. In the great depression 25% or more were unemployed.

The MSM has tried for seven years to talk the economy down, and is now having some success.

[brownsfan]

Let’s see, an ineffective Republican gives way to a big spending socialist Democrat.

Hoover - Roosevelt

Bush - Obama?

You make the call.

[ikka]

There is de-leveraging going on. Likely means that the idea of “cheap money” at low interest rates is over. House prices will continue to decline, probably by 15% more.

[JDoutrider]

How right you are!

Can we spell "National Bankruptcy"???

[mlocher]

Bingo!

[VOA]

“
I think perhaps it is time people quit yammering about 1929...
and started reviewing the history of 1873.
“

For the younguns that had/have to suffer through the awful teaching of
history in public schools and therefore have no clue about 1873...

The Panic of 1873
http://en.wikipedia.org/wiki/Panic_of_1873

[mlocher]

Let’s see, an ineffective Republican gives way to a big spending socialist Democrat.

Ford - Carter

[Realism]

The sky is falling, but the mall parking lots are full. Gas, Home heating and electric are all going down. Whats the down side here, am I missing something?

[jimmyray]

I think perhaps it is time people quit yammering about 1929... and started reviewing the history of 1873.

I view FR as much as an educational site as anything else. Thanks for the tip, another enlightening experience!

[VOA]

The European markets seem to be getting crushed right now.

They can't outrun their sizeable investment in the US mortgage markets.

As Mr. Limbaugh mentioned last Monday, Obama is correct that
the rest of the world hates us.
But the reason is because they put their trust in Freddie/Fannie MAC
and folks like Franklin Raines, Barney Frank and Thomas Dodd that
said "Come on into the investment pool Clive, Hans, and Henri...
the water's fine!".