There has been some talk of the US facing another Great Depression. Is it going to happen?

I have read an article stating: %26quot;A depression is a servere recession usually characterized by any of the following problems.... Financial panic, bank closures, unemployment rates exceeding 20 percent, and significant deflation%26quot;. I%26#039;m just wondering if we are going to expirience another great depression? And if so how is it going to effect or economy?

There has been some talk of the US facing another Great Depression. Is it going to happen?student loan consolidation

Not likely. The Great Depression lasted as long as it did largely because the Congress decided to have a budget surplus when a deficit was necessary. In Congress%26#039; defense, it had an excuse to be ignorant; %26quot;The General Theory of Employment, Interest and Money%26quot; by J.M. Keynes was not published until 1937, and it took some time for its ideas to take hold...

There has been some talk of the US facing another Great Depression. Is it going to happen? loan

I%26#039;m pretty sure we will. I%26#039;ve been following this for the past three years. I was warning friends and family about it, but as these things tend to go it didn%26#039;t happen right away so they ignored it and asked me questions like, %26quot;well why hasn%26#039;t it happened yet?%26quot;

Well it finally is. It%26#039;s a little difficult to explain, but if you take the time to look into the problem for yourself you%26#039;ll see what%26#039;s going on. This guy%26#039;s site is very well written and he uses language that doesn%26#039;t confuse you: http://www.markswatson.com

When you begin to understand how the system works you%26#039;ll be able to see just how distressed our markets our. Banks are borrowing BILLIONS of dollars to help pay their debts, and taking loans for even longer than they used to have to because they just don%26#039;t have the money to. Problems in the subprime mortgage industry will inevitably implode any day now. It%26#039;s a lot to take in, but if you take the time to read into it you%26#039;ll see that it%26#039;s almost upon us. Like... any day, week or month now.

I hope we get at least one more happy Christmas in.

This guy has good stuff, too: http://www.dailyreckoning.com/Writers/Mo...

As to how this will affect the economy... well there won%26#039;t be much of an economy after that. The dollar will be worthless. That thing with George Washington or Abe Lincoln in your pocket will no longer have any value, at least not much longer after the big downturn. After that I don%26#039;t really know what to think. Riots, 300 million angry Americans who all have the right to bear arms, hunger... It%26#039;ll be nuts, and I don%26#039;t think everybody knows just how bad it%26#039;s going to get.

Do what you can to help yourself and those around you. We won%26#039;t be enjoying our way of life much longer now.|||No, for unemployment rates are not low, despite what the media is deceiving us by saying....beware the media, they are massive, liberal, deceivers.