Is America Close to New Great Depression?

by Heisenberg Posted 2012/07/17 20:00:00

Related Topics: Economy, Great Depression, Depression, Recession, Finance, MSNBC, Richard Duncan, Money

489 votes
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	Yes	390 votes	80%
	No	99 votes	20%

Richard Duncan, author of "The New Depression: The Breakdown of the Paper Money Economy," says that America is experiencing a new type of "Great Depression." Do you agree with him?

CNBC.COM reports:
The risk of a new depression — a sustained, severe recession — has struck fear into the heart of markets and driven monetary policy in developed economies since the current financial crisis began.

heart markets driven monetary policy developed economies current financial crisis

+33

Add a comment above

Prophet 2012/07/17 16:00:27

Yes

+8
This happens when a persons financial or employment future is uncertain. A depression occurs when one spends more than they take in. It works the same for a country.
>> See Replies

More polls by Heisenberg

firebird 2012/07/17 11:31:01

Yes

+1
Certainly appears that way..... Employment remains very bad, economy is no better. Foods still going up along with cost of meds and many other services....

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realist 2012/07/17 11:01:36

Yes

Though probably not as close as some others think.

If mass immigration keeps up, its inevitable.

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Michaelene 2012/07/17 10:55:50

Yes

+2
No matter how rosy some people paint the USA, Obama's out there to ensure they're angry, full of envy for their elderly, their parents, their family, the "rich", bankers (most of Obama's cabinet)
Joe Biden's campaign speeches are so full of angst, division and screaming rage, he appears he may have a corronary on the stump.

A manipulated market with the help of his 1% pals can't save the day and the screwing of the taxpayer from every front increasing food and energy costs, tax increases left and right from sales tax and property tax.

The people paying taxes are dwindling while those recieving benefits soar, there's not much left in our bugets.
Now the POTUS, he don't need no stinking budget.

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umapathy Krishnamurthy 2012/07/17 10:33:51

Yes

+1
It seems that way only

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Patric 2012/07/17 10:33:01

Yes

+2
obomma just DOES NOT GIT IT.

obomma and his czars just do not undersatnd private enterprise ,

obomma is good at the political process, the campaign , the kiss the baby stuff, but when it comes to running the business of gov't .. tax and spend just does not cut it..

obomma reached his Peter Principal when he was a community organizer ....

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Eliot Loney 2012/07/17 10:06:22

Yes

+4
Obama must go.

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k fleming to Eliot L... 2012/07/17 15:21:01

+1
Romney is no better. Same dud(e) different letter.

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BobbyOdd 2012/07/17 09:50:02

Yes

+1
it will happen. prepare or die.

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tff~PWCM~JLA 2012/07/17 09:44:45

Yes

The panther and grandpa hair-plugs have destroyed this country!

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mrdog 2012/07/17 09:41:40

Yes

+3
Unless we change leadership in Washington.... it will happen....bark

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tdterry1999 2012/07/17 09:35:05

Yes

+1
Retail sales came in at -5.They was expecting +2

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disclaimer 2012/07/17 09:17:55

No

+1
I've been taking classes in this field recently, and the current recession, while bad, is not at this level.

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DebraDeJonge 2012/07/17 09:16:37

Yes

+1
Things don't look so good, that's for sure.

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NYCbrit 2012/07/17 09:15:02

Yes

+2
It sure as hell feels like it! I've got a couple of fresh college grads in my family... I don't envy the road ahead of them.

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MOMMA THOMAS 2012/07/17 09:01:50

No

+1
BANKGLERS NEED TO STOP STEALING...

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J-DUB 2012/07/17 08:51:31

No

+2
The right wing is trying to portray the economy incorrectly so they can fearmonger some victories in the upcoming elections.

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firebird to J-DUB 2012/07/17 11:34:50 (edited)

+1
And the left wing is playing with the numbers to make it appear all better just for the elections....................... nope its not better. If there is doubt then go to the grocery store, buy medications, gasoline, and most anything.. UNEMPLOYMENT is still just as bad. Just look at all the taxes fixing to hit us in 2013 and 2014.... That should be plenty enough to wake even the dead voters and illegal/ineligible voters... Even their pets that are now voting...

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Pamela ... to J-DUB 2012/07/17 11:48:46

+1
You have your head in the sand again.

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Peggy to J-DUB 2012/07/17 12:35:06

+1
Whose dollar are you living on? Mine isn't going near far enough to meet the needs with gas prices going up, diesel for truckers-which makes food and everything else go up and all the "environmental protection taxes" raising prices for electricity and natural gas. BY THE WAY, MY PAYCHECK HASN'T GONE UP!!! AND I AM ONE OF THE FORTUNATE PEOPLE THAT HAS A JOB!!!!!

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heirsof... to J-DUB 2012/07/17 13:55:53

Get out of Hawaii and come to the real America. Full-time jobs are nearly impossible to get here on Florida's Space Coast. Even rarer is finding a job with any benefits at all, thanks to Obama-Care - all polls show the majority of Americans hate that @#$%&* thing!

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Michael=Constitution & Liberty 2012/07/17 08:39:03

Yes

+1
monopoly money delaying the inevitable...

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☆The Rock☆ * AFCL* The Sher... 2012/07/17 08:31:17

Yes

+3
I agree but the dumb sheeple can not see it!!

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beach bum 2012/07/17 08:28:58 (edited)

No

+1
nah....they need to open up more of these restaurants....lolz

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Don Leuty 2012/07/17 08:28:34

Yes

+1
Increased taxes while the economy is this fragile is foolhardy. Increased spending in the public sector merely increase the probability of a depression. The second dip will be much more severe.

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Disside... to Don Leuty 2012/07/17 20:18:33

Tax the rich, lessen taxes on the poor and middle-class. They'll have money to spend. Supply-side economics has a consistently poor track record and every legitimate economist (not bought by interested parties) will tell you the same thing.

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Don Leuty to Disside... 2012/07/18 04:34:56

They also have greater mobility. They can elect to move to a tax friendly environment and take thier means of production and jobs with them, placing the tax burden of, GUESS WHO. Check the state department on the rate of increase in emigrations.

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3377479 2012/07/17 08:27:26

Yes

I HOPE SO that was so exciting in my history book.

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Don Leuty to 3377479 2012/07/17 08:30:55

+2
Your history book was the best place for it.

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MadWorld 2012/07/17 08:27:20

Yes

+2
agree !

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Heisenberg 2012/07/17 08:23:40

Yes

+2
I see no positive economic indicators.

We are witnessing the sunset of our republic.

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Fef to Heisenberg 2012/07/17 08:40:36

+2
Positive sign: 2010 Republicans won nationwide landslide in elections. It stopped the bleeding as much as possible without a tourniquet, which cuts off the blood supply and leads to amputation.

Wait for a positive sign in November 2012

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Heisenberg to Fef 2012/07/17 08:48:20

+3
I applaud your optimism but the republic is in it's last decades as evidenced by the decline in basic decency of Americans.

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Michaelene to Heisenberg 2012/07/17 10:58:04

+1
I agree we are becomming less civilized and less decent. It's all about the me generation with their i pods and i phones and i am entitled to what's yours attitude.

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Michaelene to Fef 2012/07/17 10:59:58

+1
Here's to hoping for another big round up of progressive losers, from school board members, mayors, judges, city councils, Congress and Senators and especially the end of the failed 0 experiment and his team of radical extremists!

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