Jill S
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Well after loosing over 500 points today let's just say I wouldn't be surprised if it happened. Oh wait we aren't in a recession...lol. I know they were saying that to try and put everyone at ease b/c sometimes the media makes more of it than it is, but this is no joke. I used to be a loan officer for 5 years and was laid off. Big surprise. I can say from experience that the banks were far too easy in lending money, but people were also taking well beyond their means. The get rich quick kinda scheme. Nothing was regulated and everyone was trying to live the american dream. All parties are to blame including the buyers. Either way I can only hope that nothing lasts forever and being the great country we are we have to rebound. I'm nervous though about the FDIC. We need to get out shi% together!!
donfletcheryh
A depression can certainly bring about a Wall street crisis.
The beginning of a depression can be observed with such a crash.
There are things in place to soften a depression, like employment insurance, bank account insurance. Now we can not be sure of the ability of government to fund lifting the economy out of a depression but it either works or it breaks.
We expect that employment insurance would keep the economy rolling along even if at a lower pace. What it proposes to do is avoid very rapid very deep decline. But if the economy continues to decline despite employment insurance, is that a depression? Some areas of Canada have felt depression for years despite employment insurance.
Anonymous
Only if Democrats control Wall Street & the elected federal government! MBA's, without good human character; will always lead to the failure of Society! Maturity is what is lacking, opportunists are like terrorists! When is the next explosion going to hurt people minding their own business! People with college degrees who think they never make mistakes are the one's to shun & forget!
Mr. SAP
There's nothing happy about our country now.. it is depressed if you haven't noticed...
I go to Canada for my Vacations!
LOL... what beauty to see these fools fail!