So - Is this the official start of our next great Depression?

[Bullwinkle925]

I wonder? :shrug:

[Birthmark]

1. It's a good question

We had several severe economic problems before gas prices went through the roof. The American consumer may well be tapped out.

Add to that that the tragedy that is about to unfold in New Orleans may well cause riots and massive social upheavals and I think we have a recipe for a Depression that might make the Great Depression look like a "soft patch."

[Bullwinkle925]

2. I hope not , but I do believe this 'bubble' is breaking.

How can Bushie ask for tax cuts now? Really?

[SammyWinstonJack]

9. Oh trust me, it's only a matter of time before he brings that back up.

Those tax cuts greatly benefit him to the tune of millions. He ain't about to let that go. And he'll be back on that ss ponzi scheme of his, too. Scumbag that he is.

[Cleita]

3. They were saying it on the radio.

This is going to send us into a recession (didn't say depression)but others have hinted at the D word as being possible.

[Hubert Flottz]

4. Yes!

If congress does not repeal the frivolous tax cuts the country is toast!

[rzemanfl]

5. I mentioned that possiblity to an old friend last night. Scenario:

sky high gas, followed by the doubling of credit card minimum payments in October, then a really, really weak Christmas and the burst of the housing bubble.

[DELUSIONAL]

6. I seem to remember stories of the Great Dust Bowl in the midwest

The wind carried the soil away and turned it into dust -- so a disaster was part of the Great Depression.

However -- the Dust Bowl wasn't completely a "natural" disaster. The farming methods of the time helped to create the conditions for the Great Dust Bowl Storms.

come to think of it -- human stupidity helped in this disaster also -- meaning the lack of planning and lack of funding of levee improvements.

Plus -- why wasn't the WHOLE military activated to help the Gulf Region? I don't understand why the Military isn't involved BIG TIME - right now.

[ThomWV]

7. Yes

The straight forward answer is yes, this will be known as the straw that broke the beaten and robbed camel's back. The rape of the economy is just about over, this one last binge, and believe me there will be a binge feeding by the opportunists after this tragedy, and the ship sinks - bow straight down, 30 mph to the bottom and her spine will break when she strikes bottom.

[wli]

8. pretty much n/t