Quote:
Originally Posted by Mike33
I have a question for economists on GFY. Is it possible (within reason) for us to ever face a 1930 style depression ever again where people wait in lines for bread etc. within the next 100 years or so?
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Not an economist, but there are people today that go to bed hungry, however most of these are living in underdeveloped nations. The US might be in debt, but its still one of the most developed nations on the planet, which means that the tools are there to keep minimal civilized standard of living.
The current crisis might look bad, but it serves a purpose, and that is to get rid of bad debt, and hopefully the bad structures + decision makers who created it.
Just remember that there will be no creation, if there was no destruction. So embrace the changes, and prosper
