Poll: Are we heading toward another great depression?

The hogs in DC just feeding out of the trough. Change is coming people are just can't feeding the hogs.

I'm beginning to wonder why the mass financial news media speaks with one voice while blaming every big down day for the DOW on Greece. The nearly 400 point drop in the DOW today probably erased more wealth in the USA in one single 8 hour period than the entire annual GDP of Greece can muster. As I said when I started this thread, when you start to see huge swings like we are having in the DOW of late (up and down with seemingly no rhyme or reason, Greece aside) something is likely coming our way before too long, and I fear it is not future good times that are just over the horizon.

lsayre wrote:I'm beginning to wonder why the mass financial news media speaks with one voice while blaming every big down day for the DOW on Greece. The nearly 400 point drop in the DOW today probably erased more wealth in the USA in one single 8 hour period than the entire annual GDP of Greece can muster. As I said when I started this thread, when you start to see huge swings like we are having in the DOW of late (up and down with seemingly no rhyme or reason, Greece aside) something is likely coming our way before too long, and I fear it is not future good times that are just over the horizon.

Why is the Dow used as a leading indicator of the state of our economy? It goes up. It goes down. There are extremes but they are typically driven by people's (investor's) emotions and not based on real tangible things.

I'm not an economist... So I'm lost when it comes to the details. I hear though that the main difference between today's economy and that in the twenties and thirties is that we produce very little now. I've heard the term "service economy" tossed into conversation.

I voted "no" in the survey mainly because not much we see these days is real. We live in a society based on false premise and mis-information. Reagan was the first pres to manipulate the calcs for inflation and it's gotten worse from there. The unemployment rates are not measuring numbers of people not working but only those on the govt unemployment roles. I think that very few people really know the real state of our economy.

I know many who are out of work an for them it's real bad. I step up to help them when the need it and want it as we all should. I don't just say it's the govt's job and turn my back.

All I know is, around here life is as up & down as the stock market. One corner has a brand new hip roof colonial with 2 BMW's parked out front and another 2 in the 4 car garage, while next door is a 1,000 sq.ft. ranch. Some guys have never felt any hint of a recession, while others have, and still are getting their asses kicked financially at every turn.

Turmoil - word of the day.