Deleted
Deleted Member
|
0 |
|
Post by Deleted on Aug 24, 2019 2:01:32 GMT 10
It's looking more and more like this may become our reality. I think we'll see a historic stock market crash before the end of 2019 and the 2020s will be a decade of severe economic depression in many parts of the world. I think in the U.S. we are going to be looking at 25% unemployment (with unemployment remaining above 15% for a very prolonged period) and the complete destruction of Millennials' lifetime earnings potential. We'll see massive bank failures and maybe some geopolitical upheavals as governments run out of money to support social safety nets. The next 10 years look bleak and terrifying. I think the world is going to look very different in 2030 compared to 2020. Does anybody else agree or disagree?
|
|
|
|
Post by rainbow on Aug 24, 2019 2:03:51 GMT 10
I doubt that will happen, to be honest. Even if we do have a stock market crash I don't think it'd be that bad.
|
|
Deleted
Deleted Member
|
0 |
|
Post by Deleted on Aug 24, 2019 2:09:41 GMT 10
I doubt that will happen, to be honest. Even if we do have a stock market crash I don't think it'd be that bad. I think it has the potential to be worse, especially if we see the collapse of the US Dollar. At best, we are looking at something worse than the 2008-2012 downturn but maybe not quite as bad as the 1930s.
|
|
Deleted
Deleted Member
|
0 |
|
Post by Deleted on Aug 24, 2019 5:38:14 GMT 10
I don't think it will be a crash, it will be a minor recession. You say there is increasing evidence that it will be a depression but I have not seen evidence for that.
|
|
|
|
Post by mc98 on Aug 24, 2019 6:26:39 GMT 10
One of the reasons why the Great Depression happened is that the Federal Reserve weren’t very smart. They cut the money supply and because of that, they didn’t have enough money to pay off the loans causing the banks to become broke. So it definitely won’t be as bad as this situation.
|
|
|
|
Post by Telso on Aug 24, 2019 7:07:39 GMT 10
I'm sorry but if I'm being brutully honest this constant state of fear/paranoia some members are into on here is really starting to get on my nerves. It's not a healthy mindset first of all, and the completely unsourced claims are not bound to engaging discussions.
TheUser98 and mc98 like this
|
|
|
|
Post by smartboi on Aug 24, 2019 13:53:22 GMT 10
I'm sorry but if I'm being brutully honest this constant state of fear/paranoia some members are into on here is really starting to get on my nerves. It's not a healthy mindset first of all, and the completely unsourced claims are not bound to engaging discussions. At this point I'm starting to think its either trolling/baiting or genuine craziness.
|
|
Deleted
Deleted Member
|
0 |
|
Post by Deleted on Aug 25, 2019 1:53:01 GMT 10
I'm sorry but if I'm being brutully honest this constant state of fear/paranoia some members are into on here is really starting to get on my nerves. It's not a healthy mindset first of all, and the completely unsourced claims are not bound to engaging discussions. At this point I'm starting to think its either trolling/baiting or genuine craziness. Have you been following the news? The current economic situation is frightening for somebody who has studied history and knows a little about how the economy works. I think if things keep going how they are going now, we will be in for at least a decade of economic depression and that's an optimistic scenario. That's going to bring with it a lot of social consequences and societal changes, perhaps on a global scale. This is a nightmare situation in the U.S. right now.
|
|
|
|
Post by SharksFan99 on Aug 25, 2019 22:28:42 GMT 10
Disagree. You're right about how there is a very real likelihood of a recession in the next few years, however I doubt the effects that will come as a result of that will be any worse than the Global Financial Crisis of the Late 2000s/Early 2010s. A 25% unemployment rate in the US is unrealistic; that's 1/4 of America's working population being out of a job.
|
|
|
|
Post by al on Aug 26, 2019 9:56:52 GMT 10
Nahh. I used to think doom and gloom like this and was always finding evidence to justify it. In reality the people in power benefit from perceived normalcy most of the time and from consumers having money to spend. The economy will dip because that's what it always does, and then it will fix itself because that's what it always does. What's changing about it is happening right under our noses. Increasing housing and food costs, enormous student debt, etc. These are minor tragedies on their own but they are affecting us gradually. Another decade will go by and Americans will probably have less savings than in many past decades and we will be living more to a dwelling; this would not surprise me. But we might also be ubering flying vehicles so it will somehow slip our mind what we have lost.
|
|
|
|
Post by karlpalaka on Nov 19, 2019 10:51:29 GMT 10
Unemployment rates are actually rising thanks to technological advancements and AI, and with self driving cars becoming more popular as we speak, the need for taxi drivers, limo drivers, uber drivers, lyft drivers, and bus drivers will fade away. As you can see in restaurants, servers are no longer needed thanks to tablets that people can use to make their orders. I pray the 20s will be better than the 2010s.
|
|
Deleted
Deleted Member
|
0 |
|
Post by Deleted on Nov 19, 2019 11:05:11 GMT 10
Unemployment rates are actually rising thanks to technological advancements and AI, and with self driving cars becoming more popular as we speak, the need for taxi drivers, limo drivers, uber drivers, lyft drivers, and bus drivers will fade away. As you can see in restaurants, servers are no longer needed thanks to tablets that people can use to make their orders. I pray the 20s will be better than the 2010s. [citation needed] Unemployment is at record lows. Self-driving technology has flopped. I doubt we will see a fully autonomous vehicle before the 2050s.
|
|
|
|
Post by Cassie on Nov 19, 2019 12:17:41 GMT 10
While I do agree that there may be a 2020s recession, there is no way that I would describe it as being the second Great Depression.
|
|
|
|
Post by karlpalaka on Nov 20, 2019 5:10:07 GMT 10
To be honest, if the Great Recession last decade was not considered the Second Great Depression, I think we might say, the Great Bust.
|
|
|
|
Post by Telso on Nov 22, 2019 5:40:35 GMT 10
Recessions and depressions aren't the same thing. A recession is kind of cyclical and is very likely to happen again. A depression is very unlikely to happen due to policies set in place now.
|
|
