worse than the great depression...
By asyria51
@asyria51 (2861)
United States
October 23, 2011 8:57pm CST
Will history look back and say that this economic down turn is worse than what occurred in the 1930's?
I think with the link of a global economy that this is indeed worse. When the stock market crashed in 1929, it hurt the US economy, right now not only is the US economy struggling the world economy is struggling as well. One country effects another.
4 responses
@peavey (16936)
• United States
24 Oct 11
I think it is worse or will be worse. Today, the government hands out food and pays rents and utilities and we don't really know the depth of the "recession" because of that. Our dollar is losing its value, partly because there is so much of it and they keep printing it. When will we run out of food and goods? We may be much closer than most people think. We will not know until it's upon us.
The Great Depression did affect parts of the world, but I agree that this is worse because the world is more interconnected than ever.
@asyria51 (2861)
• United States
24 Oct 11
I had this discussion over the weekend. One of the big differences is that during the Great Depression, people relied on each other, whereas this time around people are relying on the government. As long as the government is just going to hand out the money, many people are not going to be looking to better their situation. Note that I said many, not everyone.
@peavey (16936)
• United States
24 Oct 11
Yes, that's true. The sad and scary part is that people don't often feel a part of a local community so when things get tough, they don't have any place to go. I can't help but wonder if this was a conscious manipulation to gain control, but I digress.
Looking at disasters in our recent history shows that too many times, too many people would rather steal from stores and from other people than ask and give help in a community setting. This disengaged attitude, wherever it stems from, is dangerous. Those who may be prepared for hard times can't support a horde of freeloaders and criminals.
@asyria51 (2861)
• United States
26 Oct 11
I am lucky that I personally have not been hit too bad. We have depleted our savings trying to pay our mortgage and gas to get to and from our jobs, but we have not had to rely on the government for food stamps or anything like that. I see our community growing stronger, but we are a small community so it is a bit easier. The community garden has more than doubled in both size and amount of community involvement. There are community wide garage sales that are free to put your name on the list and the city lists it in the local paper. My friends and I swap toys that our own children have stopped playing with so we do not have to buy christmas and birthday gifts. It is making many people more creative, at least I am becoming more creative.
@picjim (3002)
• India
24 Oct 11
The great depression of 1929 had its ill effects worldwide.But now we are better connected worldwide.The countries are dependent on one another and lend to one another,hence any default by one effects the others.We can only read accounts of the great depression of 1929 but here we are experiencing first hand the effects of present recession and first hand experience makes it seem worse than the one in 1929.
@megamatt (14292)
• United States
25 Oct 11
In some ways it is and in other ways that it isn't. The Great Depression was not called such without good reason after all. And it did go on for a longer time than this current economic downturn. I think this just does seem longer due to the fact that we are getting all of the economic issues shoved right under our nose day in and day out. People are panicking and when people panic, they don't think and when they don't think, things are going to get far worse. That's not just every day people on the street but the government.
I do think that one point is I fear that things are going to get a boatload worse before they start getting better. I hope that it doesn't, I really hope that it doesn't. I think that this is an entirely different mess than the Great Depression due to us living in a different time and in many ways, we should be able to fix this easier than we did then, due to knowledge but sadly those in power don't seem to have learned from history.
Our reckless spending and inability to properly hold people accountable for mass debt, it finally caught up with us after a while. The next few years are going to be intriguing and likely I do fear that the worst may be yet to come. And this seems greater, because we know everything bad that is happening pretty much as soon as it happens, due to news being able to spread faster. There was no television and no Internet around during that time and thus news didn't move as fast.
@monilove35 (45)
• United States
24 Oct 11
Asyria
You know what I pray this everyday that this will be over for us not just us everyone. And yes I believe that this will go down in history if God doesn't come back first. Yes I feel that this has been one of the worst of the worst.
