America is looking more and more like how it was immediately before the Great Depression.

[HappyWeasel]

Incredible corruption. Incredible interest in authoritarian sociological engineering. Shady Economic Growth based on Shady Practices. The waiving of many civil rights and liberties. and if a Republican wins in '08, a one party political system. What do you think? Do you think, with an unstable and authoritarian polity and the international growth bubble about to burst overseas, that America may be heading into a Great Depression by the end of the decade?

[Warpy]

1. Probably

If you want to forecast a Depression, follow the debt. When wealth collects at the top, everybody at the bottom assumes debt in order to survive.

Eventually the bills come due, the consumer economy collapses, people are thrown out of work because of no demand for goods and services, and that is a depression.

Most people out there who are living a middle class lifestyle have a negative net worth, something that will accelerate as their paper equity in their homes evaporates and their largest asset becomes their largest unsecured debt load.

[The_Casual_Observer]

2. I've noticed that the basis of every enterprise that you encounter

these days is engaged in the business of trying to sell you things you don't need at prices you can't afford. It appears to be universal. The need for ever increasing profits has pushed everything to a point where it's all form and no substance in everything, including people.

[Locrian]

3. any tips?

Any tips on how to survive this? Aside from being out of debt, etc? Do I buy gold? How about cases of whiskey and AK47s?

[bryant69]

4. There are a few differences though as well

I mean the national mood in the 1920s was much more positive than our mood now (granted in the 1920s white males mattered disproportionately, and blacks and immigrants didn't matter at all). Whereas there is already a feeling of deep frustration with the Bush Administration.

Bryant
Check it out --> http://politicalcomment.blogspot.com

[enid602]

5. no depression

I think the specter of a Great Depression is appealing to those unhappy with Bushco, but I don't think it's likely. The comparison I would find more valid is 1937 Britain; about ready to have to put 100% of their wealth in a struggle for survival, only to lose empire and their national patrimony. Let's hope that we have the grace the Brits did in the '30's and '40's, and let's hope that we too can ultimately ally ourselves to a larger union (the EU, in Britain's case) so we can salvage a modicum of national pride and prestige. I think it's more likely that the US will blunder and bluster though it's decline, and will end up with no dance partners, other than perhaps Mexico, which will by then finally have exhausted its petro reserves.

[HappyWeasel]

8. I wonder what the reaction to that would be...

It sounds like you are trying to say that this country may go out in a bang, rather than a wimper...

[enid602]

9. opposite

Quite the opposite. I think the romantic in us all wants to see the bang, but it will be more like a footnote, or a comma, as Bush would say.

[HappyWeasel]

10. What would be best for our families if America is dying?

Emmigration or something else?

[enid602]

12. responsible

We are, after all partly responsible for what our government hath wrought. I suspect we will have to continue, and hopefully learn from our errors. Maybe it will change our personal and national priorities. One can hope, at any rate.

[madrchsod]

6. maybe some comparisons

but nothing like what happened during the 30`s.

[PDJane]

7. there are more than a few similarities.......

And the reason is that the Bush bunch are deliberately pushing the economy that way. This is part of the deal; this is what the neocon philosophy produces.

[sutz12]

11. The comparisons I like are to the 1890's

Big business gone ballistic, labor problems bubbling at the bottom. More and more people being squeezed out of the 'dream.'

Time for some Teddy Roosevelt-esque corporate and monopoly busting.