USA 2008: The Great Depression

[imfree]

USA 2008: The Great Depression

By David Usborne in New York
Tuesday, 1 April 2008

We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families....

http://www.independent.co.uk/news/world/americas/usa-2008-the-great-depression-803095.html

[Tall Timbers]

We're a long ways from a Depression, let alone a Great one. If food stamps are available, and food can be gotten with them... then its not so bad.

[chel0524]

We're a long ways from a Depression, let alone a Great one. If food stamps are available, and food can be gotten with them... then its not so bad.

Who's going to supply the foodstamps to the people? A government economy that is already on the verge of collapse? Not sure, but i don't think there were food stamps during the great depression.

[Tall Timbers]

Who's going to supply the foodstamps to the people? A government economy that is already on the verge of collapse? Not sure, but i don't think there were food stamps during the great depression.

There weren't food stamps during the great depression. Most of today's never ending social welfare programs have their roots in the Fed's attempt to lift us out of the great depression.

[AlphaOmega7]

We're a long ways from a Depression, let alone a Great one. If food stamps are available, and food can be gotten with them... then its not so bad.

Funny. Many people were saying that right before the Great Depression as well and then the stock market crashed.

[Bernardd]

So now a "Great Depression" is defined by the number of food stamps available?

My grandfather (who lived through the Great Depression) would be more than a little insulted. He must be rolling over in his grave.

[Bernardd]

Funny. Many people were saying that right before the Great Depression as well and then the stock market crashed.


Can you post a link for that? I'm not sure who you're talking about.

[SnoDog]

A recession has not yet been declared, and now we're in a depression?

No matter what happens it will sound like a depression.

Just imagine what people would be saying if the economic conditions were like those in the late 70's - early 80's.

That is part of the problem - many people don't remember that time. For the last 30 years or so economic times in the USA have been relatively good, compared to that time.

In the mean time we have 24hr news channels; the internet; and high expectations.

Be wary of anyone who says they know what will happen. I agree with Warren Buffet and Peter Lynch- Trying to predict what will happen to the economy is a waste of time.

[agga40s]

We're not yet close to a Great Depression, but we're certainly headed there, IMO. We (as a society) are living lives that are not sustainable. Collapse is inevitable. The only question is when?

[twinkle]

:scratch I remember something about food ration coupons during the Great Depression....long lines for food items and long lines for soup kitchens. :ohno

Also, has anyone read the article on RR home page? "Which Nation is the World's Superpower?" Food for thought?