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Today marks the 82nd anniversary of the Wall Street Crash of 1929 (commonly referred to as Black Thursday), signaling the start of the Great Depression. And although this country has had its share of crashes and financial scares since then, it hasn't been until recently that economists and other business experts have been seriously considering that we could be facing another global depression.
Just last month, financier George Sorros wrote that if action isn't taken soon, we could revisit the economic hardships of the early 20th century at the beginning of this one:
Financial markets are driving the world towards another Great Depression with incalculable political consequences. The authorities, particularly in Europe, have lost control of the situation. They need to regain control, and they need to do so now.
What do you think? Is this just Chicken Little-thinking during an economic rough patch? Or should we be worried about another Great Depression? Take our poll and tell us where you think the economy is going in our comments section.
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Richard Reynolds
8:37 am on Tuesday, October 25, 2011
You reference a statement written by financier, George Sorros. He is known as one of the multi, multi-billionaires of the world. It seems also that he is the most left-wing sociallist among those and I believe, is a Marxist. If we do in fact experience a world-wide depression, you can safely bet that he is, in his lust for power, the grand orchestrator of it. I think the first movement has already played.
Stephen C. Lingle
2:17 pm on Tuesday, October 25, 2011
George Sorros is a strange bird and has the money to buy politicans around the world, another sick old man on his way to meet the maker. He will not go quietly?