Quote Originally Posted by tony
Far from it, trust me. The great depression was global.. not just a housing market in the U.S falling apart.
EARTH to the people of America. WHERE have you been. you think the real estate market being in the toilet ONLY affects the sale of homes? if you think that then you need to wake up. 450,000 homes are expected to go into foreclosure EVERY 3 months this year!! compared to last year thats 3-4x more houses in foreclosure. the real estate market is what drives the economy. if people dont have a house, they wont buy anything else which makes the other businesses suffer and end up going bankrupt. its happening as we speak, just open your eyes and your narrow mind a bit.



i did a research paper on it and im not making this up.


THE GREAT DEPRESSION was caused by the stock market collapsing, which was, yes, somewhat global. Countries are pulling their reserves in the dollar and going to the Euro which, if you didnt know is stable and increasing in value tremendously. when the Euro was first introduced the exchange rate was like $1.10 or something. now its $1.46( just checked). the value of our dollar is dropping, the cost of living is rising, we are TRILLLLLIONS of dollars in debt, and we have this never ending black hole of money called Iraq, that isnt going away.

I wouldnt be surprised a bit if there was another depression. And im expecting some form of a recession.


open your eyes people.....