Do you think our country will be in for the next Great Depression?

A depression? Sure. But nothing on the scale of what the 30s were. The US is just too strong to let it happen.

I think we are headed for a recession, not a depression. However, when we pull out of this recession it will be different than others in the past. America will no longer be on top. The housing market was just a bubble breaking, this has happened before. Recession is a normal part of a healthy economy. America needs to make a lot of changes in regard to our economic, energy, and other policies, and I hope that this recession will be a catalyst to make those changes.

Sorry about the question mark I left out.

I think the signs that American economy is in deep trouble are quite obvious. The reasons for this are also quite obvious. Contrary to what Americans may have been told about everything being China or the Arab world's fault, the problems with America come from the fact that too many people in America were spending more money than they were making and banks were more than too happy to lend reckless ventures more money than they should have. If the Chinese and Arabs are too be blamed for anything, its not for making things or high oil prices, but for continuing to support this credit habit by buying US T-Bonds. America has a trade deficit because it buys things from China, which in turn buys American debt to help Americans continue spending irresponsibly. But as Bill Clinton used to argue - there's nothing wrong with America that cannot be fixed by America. While many Americans will disagree, the USA does retain many advantages in the world today. China may one day overtake the USA as the biggest and strongest economy, but in the mean time, the USA is still top dog and will have a large say in how China develops - hence the USA will be a number two that influences the way the number one works. America has a working legal system, which is better than anything in China or the Middle East. It's financial problems looks small compared to the bad debts of the SOEs in China, and most importantly, I think America will remain top dog as along as it remains the place where any clown from any part of the world can come and succeed. Although America has had some dreadful governments, American people have proved to be innovative and resilient and more importantly, the rest of the world comes to America because they are allowed to be innovative and resilient - first it was the Europeans, now its the Latinos and Asians who are helping drive America. So, yes, America will probably need to enter a period of harsh economic times. But I think if the American people have their way, the nation will be making a pretty darn strong come back.