Now they are talking Depression
By di1159
@di1159 (1580)
United States
December 3, 2008 3:23pm CST
I was just listening to a report from the automakers and now they are stating that if they don't get a government bailout, the economy will head into a full-blown Depression. Do you agree or do you think this just might be a scare tactic to try and get the government to give them money? I was under the impression that we couldn't have a depression. What are your thoughts on the subject?
2 people like this
5 responses
@snowy22315 (180819)
• United States
5 Dec 08
It is my personal feeling that we are already in a depression. I think things are going to get worse before they get better regardless of what happens with the automakers. This country is in a bad way.
@uath13 (8192)
• United States
3 Dec 08
We're likely heading into a depression whether the auto makers get the bail out or not. The world's economy had become entirely based on credit. Once those credit markets took a hit everything collapsed. Even if the big auto makers get the money they're still going to lay people off. It's supply & demand & right now there's no demand for their products. They're not going to keep a work force to supply products that aren't selling. More people laid off = less money for those families to spend on basic necessities. That then cuts into those markets causing further lay offs & the ripple effect will continue
What ever gave you the impression that we COULDN'T have a depression?
@di1159 (1580)
• United States
4 Dec 08
Back in the day when I was in school, and talking wayyyy back, lol, we were taught that the government had specific protections in place so that nothing like the Great Depression ever happened again..... goes to show that history really does repeat itself.. Thanks your opinion.
@mrbrownedeye (781)
• Philippines
5 Dec 08
i am not economist but i am not agree with that news. as of now we are facing a global economic crisis. that could increase more pressure to those country that having a big economic changes. i just hope that the government you told and the automakers can settle that issue.
@hildas (3031)
•
3 Dec 08
I really do think we are heading to a depression. A full blown one. I have heard this from a lot of people that know nothing really but if they can see this like I can it will happen. Times are bad and I know they are going to get worse in the next couple of months.
Sorry for being so down on the matter but I think we have to be prepared for this.
