Question of the Day | 07/22/2008 12:00 am

Some say the United States is heading toward a Depression. Do you agree?

Liz Smith | 07/22/2008 12:00 am

Liz Smith's Been Here Before

It sure looks like it, but the “experts” keep saying it isn’t as bad as it appears. Life goes up and down in cycles. I’ve lived through one Great Depression in the ’30s and I hope to live through the next one and see America thriving again.

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Mary Wells | 07/22/2008 12:00 am

Mary Wells: How Far Down Is Down?

I don’t think anyone is certain what to call it. It may require a new word because so much of the world is having the same problems so it could get worse and worse all around. I have listened to and read a lot of complaints and fears but haven’t heard anyone I respect for cool, clear and superior thinking estimate how far down is down. It is election time and no one wants to lay out ugly possibilities and the side effects, but until we face those — from sane, reputable sources — we won’t back ideas or painful plans for slowing and stopping the slide … and so it will continue.

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Joan Juliet Buck | 07/22/2008 12:00 am

Joan Juliet Buck: The End of the Road

Journey’s over. You can relax kid, we’re almost there. And it’s not just the United States, it is the entire world. Police roughing up people trying to get their money out of banks that were underwriting dodgy mortgages in California — a new Birkin, anyone?

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Joan Ganz Cooney | 07/22/2008 12:00 am

Joan Ganz Cooney: The Tip of the Iceberg

It’s difficult to know whether it will be a Depression or a recession or a long slow growth period with inflation. Stagflation is what we had in the ’70s and that may be what’s coming. It is clear, however, that with a very weak dollar, many billions in borrowed money from foreign governments, trillions owed in unfunded promises like Medicare, Social Security and Medicaid, a depressed housing market, a two-front war and an infrastructure that badly needs rebuilding, our country and our next president face unprecedented problems. And, of course, many more will crop up. Iran? Good luck to us all.

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Cynthia McFadden | 07/21/2008 10:05 pm

Cynthia McFadden: Any Way You Slice It

Depression, recession, downturn; call it what you will, we’re headed there. Eight thousand Americans are losing their homes every day in the mortgage mess. The price of consumer goods has risen over five percent in the past 12 months, the biggest one-year jump since 1991. And here’s a little wake-up message: In the seven years since George Bush became President, the price of a gallon of gas — accounting for inflation — has risen 200 percent. I doubt many of us can say the same of our paychecks.

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Read more about: Economy, Finance, Meltdown, Money, U.S.

117 Reader Comments (so far…) Sign In or Register to comment

Hi Winery Lifestyle, Yes, isn’t Gore great. I cried when I saw/heard this speech. He was our next president, in my view. And what a difference he would have made. He really knows what’s going on. And he has a plan, and guts. Wish he had been this forceful back then, and less intimidated. I have cut way back on eating meat. Mostly fish, vegetables, grains, and some chicken. Thank you for the links. Cheers.

By N P on 07/22/2008 3:56 pm

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NP—He was elected and if he’d been in…we wouldn’t be in this mess. But I still think he will save the day. He is brilliant on the environment.

By No Way-No How -No McCain on 07/22/2008 10:42 pm

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gore is demonstrating leadership with his climate initiative. out of the presidency, he has demonstrated more leadership in positive directions than george w. bush has done in almost two terms in office.

By mary lou s on 07/23/2008 12:42 am

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Hi Suzanne, I just visited your Web Site…………….beautiful. I also love Paris………..in 2003 my sister and I rented a two bedroom apartment 2 blocks from the Eiffel Tower………….it was glorious We spent a month there. I wish I could go back, probably won’t because of my disability. (I need an electric scooter to get around now) I always enjoy reading your comments about France. My mother was French. Her ancestors came to this Country in 1728. The minute you get off the plane you can feel the difference in the Energy in that City. I love it!!!!!!!!!!!!!!!!!

By Dona Howlett on 07/23/2008 5:04 pm

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“I support Obama overall, but I’m disappointed that neither he nor McCain has come up with better energy and health-care plans. By James Gemmell on 07/22/2008 10:31 am” As am I James and I’m awfully afraid it’s an indication of the awesome power of the oil, drug and insurance industries on our government.

By Sherrie Crews on 07/22/2008 11:59 am

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I agree with you both James and Sherrie. However, here is a letter that I read in the Chicago Tribune a few days ago which explains Obama’s dilemma pretty well, and gives a lot of hope: Devotees of Barack Obama disappointed by his moderately changed policy positions misread the constraints of electoral politics. We have never elected an unbending leftist politician as president. We are a country without a socialist or labor party, and the electorate tends toward moderation. Liberal presidential leadership has always come to us wrapped in pragmatism.   Franklin D. Roosevelt, the founding father of modern liberal government, exemplifies that mix of liberal goals and pragmatic means. In the 1932 campaign Herbert Hoover accused Roosevelt of being a “chameleon on plaid.” It was FDR’s tactical elusiveness, joined with his commitment to “the forgotten man,” that made for his success.   Later, John Kennedy’s cool pragmatism and moderation brought to office a president who put poverty and civil rights squarely on our political agenda.   None of this proves that Obama would be Rooseveltian, or even Kennedy-like. But it is a promising start that he can join tough pragmatic means to liberal goals. —Peri E. Arnold Professor Department of Political Science University of Notre Dame Notre Dame, Ind.

By DeBúrca obj on 07/22/2008 12:13 pm

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De Burca— I think Obama is brilliant on strategy and absolutely a pragmatist. Having Senator Chuck Hagel (R) with him this week on his tour of Middle East and Europe is a great move. Hope that Senator Hagel plays a role in the administration. He is a brain, a hero and even when I don’t completely agree with him, he is a great man and I trust him. He knows we are in deep doo-doo and that it’s time to put adults in charge. And in a technological age where everything happens online it is insane to want to vote for grandpa who doesn’t know the basics. Absolutely insane. While Obama is where he is because he is a techological whiz and understands the new landscape.

By No Way-No How -No McCain on 07/22/2008 1:56 pm

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Winery L. - I agree with you completely. And I love the way he “owns” the message, he doesn’t get down in the mud no matter how hard they try to drag him in. He stays calm, he states and restates his views and then moves on. Meanwhile, the Right Wing hacks like Hannity along with McCain and his staff are crying about Obama getting so much press during his trip… but they didn’t mind him getting so much press when they were looping the Rev. Wright video 24/7?

By DeBúrca obj on 07/22/2008 6:08 pm

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De Burca-Love that about him too…the calm and refusal to be pulled off course. I don’t even listen to Hannity and McCain camp. Big who cares for me.

By No Way-No How -No McCain on 07/22/2008 10:25 pm

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Yes I do believe it. The media reinforces this notion daily. It’s a domino effect. Prices of virtually everything have spiked. If we’re not heading for a technical depression, I am at the very least, emotionally depressed by the state of our economy.

By Dancinfool 4U on 07/22/2008 12:28 pm

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Heading for? I think we are in one!

By Marie McConnell on 07/22/2008 1:35 pm

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I agree with most of you…I think we are already in an emotional depression…I commute to work, round trip is 93 miles a day…yes a day…I live where I live b/c of my fiance’s job-we have to live where he works and I have worked at my job for 14 1/2 years…If I were to find a job where I live I am looking at a $10K pay cut and starting over. The daycares where I live aren’t great so I would be stressed leaving my 2 year old at these daycares so I drive 93 miles a day back and forth…We have had to cut back on just about everything…Goodwill is looking real good for my daughter’s fall & winter clothes…thankfully she goes to daycare 5 days a week (depressing) so the clothes she wears there isnt a fashion show yet…To be honest not sure how we can get out of where we are without bringing back jobs to our Country…A Country without production is nothing…We have to produce something…My own job if you need your computer fixed you call a 800# and you get someone in India and you can’t understand them and they dont understand you so you get nowhere & we have 1, yes 1, computer guy for 450 people in my building…its nuts. Who needs to come to America to take our stuff…were giving it away. Whoever is elected President has a lot on his plate and to be honest I don’t see a lot changing anytime soon…Depression for sure!!!!!

By C Hardy on 07/22/2008 1:46 pm

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CO—Al Gore does have a great plan that would create millions of new good paying jobs as switch the US to a Green-tech sustainable economy on the order of a Marshall Plan/WPA for the US. It’s incredible to me how people can’t see this.

By No Way-No How -No McCain on 07/22/2008 1:59 pm

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Winery L. - You’re right about Al Gore and the environment, and as for our Oil dependency, don’t forget T. Boone Pickins Plan too! We could be self sufficient in 10 years if we would just focus on the right solution, instead people are getting sidetracked by things like offshore drilling and ANWAR.

By DeBúrca obj on 07/22/2008 6:11 pm