Will We Really See a Depression?

Published by admin | Filed under Uncategorized

Many people are concerned that we are about to see another Great Depression like America saw in the 1930’s. Some economists are guaranteeing that this will happen, while other economists think we can pull out of the recession with some hard work and national budgeting. But what is the truth? Are we really going to see a depression in America within the next few months?

The truth is that no one really knows. Pulling out of the recession will require many changes in budget, society, and governmental programs. There are, in fact, so many factors that are leading to the depressive economy that it may be impossible to address all of the issues. For example, in past years we have pulled out of a recession by lowering the value of the dollar. This has already been done twice, with no results. This is because oil deals all go through in US dollars, and lowering the value of the dollar hikes up gas prices. Another issue is the war in Iraq, because so much government funding is going there. There are also additional economical factors, such as the mortgage financing crisis. In the end, the bottom line is that something or someone will have to give to pull our economy back up, and that will probably not come until we have a new president in office.