Due to recent instability in the U.S. economy some are saying that we could be on the verge of slipping into the precipice of another "great depression." It does seem that the Fed has been pretty ineffectual in its attempts to manage inflation by lowering interest rates and many have said that they may actually have to raise them. The rapidly declining dollar combined with skyrocketing commodities and the housing market are going to wreak havoc on the U.S. economy for some time to come.
Is it time to start stockpiling canned goods, water, and other commodities or is this just part of the natural business cycle? I can't imagine the dollar going anywhere but down until the inauguration of the next president. Either way its quite disconcerting for someone like myself who will be attempting to enter the workforce in a year.
What would happen if we slipped into another great depression?
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I think we are far, far from a depression. As slow as the economy is growing, it is still puttering along.
We are not in a recession, although some politicians and journalists seem to want us to be in one.
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