6 Answers

Where are you living? We're in a double recession right now. 

Colleen

It pales because there has been no full market collapse. If that happens, then we will see law of the jungle again. Today we have credit cards to get people through so it does not seem so bad but people are poor, just living on credit. That's the difference. No credit cards back then.

Scary Question as several well known journalists have compared 2011 to 1928...as you might recall, there was a slight economic rise in 1928-30 followed by a decline into the "great depression". Could it happen- absolutely.  Would it be different- yes!  Think of all of the recent college and grad. students who have graduated to unemployment already.  Not only is the economy of the US different from the 1930's but the population of our country has exploded.  'We' also tend to support the hungy of other countries before we think of lending support to the hungry living under our noses.

The depression of the 20s required a person, not associated with others, to provide for themselves any way they could. Life alone is harsh and requires skills that culture provides by natural diversity of skills among the numbers of people. A cultural group of about 50 people including children in the 1920’s would have enough of a knowledge base amid a natural ecology of the time to survive and gradually prosper. Today’s culture would require a group of 700 willing workers and leaders to achieve a comparable level of survival of a 1920’s group. The disparity in this is due to the fact that the skill base we have presently is so much less inclusive of survival skills in the open environment.   

Oh my o my, credit, or lack of credit, credit cards, money borrowed, money spent, no money to pay my debt,in debt because I spent money I didn,t have, more money going out than coming in, job shredding, pay offs, pension stealing,OH YES that,s me , I did all of this, still doing it, loving it, getting away with it , it,s easy ,nobody asks me any serious questions,not yet anyway, they just keep bailing me out with other peoples money,my life is great, and always will be because I have BANKS! I have power, I am a BANKER

THANKS to all the good comments that are being kicked around. I was born in 46.  I remember in the 50's that having a Cr card wasn't glorified.  I think our Gov. is too ancious to put band aides on our economy.  I don't know how much longer we can continue to keep going into a financial abyss as a country.  I think the Europeans need to print the Euro instead of us printing the dollar to put amother band aide on Europe.