The Great Depression Part II Options

[fameONE]

Is another Great Depression right around the corner for the American economy? Considering two investment bank powerhouses (Morgan Stanley and Goldman Sachs)have become bank holding companies in order for a financial backing from the Federal Reserve (this is a really big deal), should we be concerned? Also, take into consideration Bush's bailouts and his $700 billion dollar plan to 'save the banks,' do you think we're in deep shit?

Debate.

[Comptine]

I would be horrified but not necessarily surprised if a Depression hit. Economies run in cycles and it seems that it's about time for the market to hit a low. DoubleJ made a point. Our economy never recovered from 9/11. Our countries checkbook was balanced and we had surplus when Clinton left office. Then, 9/11 happened and wiped out a huge financial market not only in the US but in the world. Then, to supplement that, Bush decides he needs to go to war and drives (no, plummets) us into trillion dollar debt. We're borrowing money on top of money. Meanwhile, Bush is neglecting basic domestic issues that drive down the market.

I'm starting to save up and spend less in anticipation that the next few years might not be so cushy. And I'm only in my second year of undergrad. I can't imagine what my parents or other adults are thinking.