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San Francisco: The US economy has a 50 per cent chance of falling into a depression during the next three years, said Roger Farmer, a member of the National Bureau of Economic Research's economic fluctuations and growth program.
"There's a significant probability things will get worse," Farmer, 53, said during a phone interview Friday. "We're certainly not at the end of the recession and things are getting worse."
Buckle your safety belt, folks... it's going to get real ugly in the next year or so. If this country goes through an economic depression similar to the Great Depression of the 30's.... there will massive social problems. Cretin America is ill equipped to handle something like this.
Well this needed to happen sooner or later,just too few have too much wealth,it's just simply a failure of reaganomics and i sure as heck would not wanna be barack obama to try to fix it.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,756,161 times
Reputation: 3587
Quote:
Originally Posted by Berkshires413
San Francisco: The US economy has a 50 per cent chance of falling into a depression during the next three years, said Roger Farmer, a member of the National Bureau of Economic Research's economic fluctuations and growth program.
"There's a significant probability things will get worse," Farmer, 53, said during a phone interview Friday. "We're certainly not at the end of the recession and things are getting worse."
Buckle your safety belt, folks... it's going to get real ugly in the next year or so. If this country goes through an economic depression similar to the Great Depression of the 30's.... there will massive social problems. Cretin America is ill equipped to handle something like this.
The government is not going to allow the country to fall into a depression. They will do whatever it takes to not have that happen even if they have to nationalize large segments of the economy to prevent it.
Well this needed to happen sooner or later,just too few have too much wealth,it's just simply a failure of reaganomics and i sure as heck would not wanna be barack obama to try to fix it.
The last depression didn't hurt the wealthy the will able to tough it out.....It'll hurt he poor more then anyone..........Frankly we need some bad sheit to happen here maybe we'll eb able to thin out the herd
this huge mortgage bailout will only delay whats comin. bottom line pte at burger king cant get you a house. why is that so hard to understand? take away our jobs and we become field slaves once again.
back to the 1930's pickin peaches.
The government is not going to allow the country to fall into a depression. They will do whatever it takes to not have that happen even if they have to nationalize large segments of the economy to prevent it.
Thank god! I mean, look how high the quality of life was like under Stalin and Chairman Mao! A chicken in every pot -- once a year. Good times, good times....
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,756,161 times
Reputation: 3587
Quote:
Originally Posted by camping!
Thank god! I mean, look how high the quality of life was like under Stalin and Chairman Mao! A chicken in every pot -- once a year. Good times, good times....
China today is still largely a nationalized economy. It might be in private hands but it is still ran by the government for the most part. I am not advocating that model for the USA but if comes down to socialism or depression, Americans are not going to choose the latter option. That has been proven in the past month with all the bailouts - being pushed by the "free market" Republicans none the less!
The government is not going to allow the country to fall into a depression. They will do whatever it takes to not have that happen even if they have to nationalize large segments of the economy to prevent it.
You are probably right. The recent past has shown that both parties are ready for this. We are moving towards socialism (not communism) and are pretending it is a capitalistic cure. Borrowing got us in the mess, so let us borrow some more to get out of the mess.
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