Sign in to wowOwow

Enter the email address that you used when registering at wowOwow.
The password field is case sensitive. Click here if you have forgotten your password.

Please register for wowOwow

Newsletter subscriptions
Sign up to receive wowOwow's weekly newsletter and get our best picks delivered right to your inbox. Our newsletter content is hand-picked by the wowOwow editorial team and provides the top features, news, and commentary from our site. Subscribing to our newsletter is free and safe. We will never share your email or other information with a third-party without your direct consent.
By registering, you indicate that you have read and agree
with our privacy policy and terms of service.

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

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

© Shutterstock
Liz Smith

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. 

Click here on this text to read my nationally syndicated daily column.

Mary Wells

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.

Joan Juliet Buck

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?
Joan Ganz Cooney

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.
Cynthia McFadden

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

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

Josie Sullivan
Amen sister C O!
By Josie Sullivan on 07/22/2008 3:32 pm
C Hardy
Al Gore’s plan in all find and dandy but who will implement it? It can’t work unless we all do it…You know there are too many american’s who just dont care…they wont see it in their lifetime so who cares…My fiance’s is from WV and up on Mt. Storm they have installed these huge windmills that have already generated tons of power & grant it, they aren’t the prettiest looking things especially up on a beautiful mountain but if it works why can’t we get more people get over it? I want and try to do what I can but if I open my blinds to use the sunlight for light in my house, then my air has to run more b/c its so hot & humid here in Richmond VA that opening the blinds to let natural light in-heats up your house…we turn the ceiling fans on but doesn’t that just burn up more energy? Where does it stop?
By C Hardy on 07/22/2008 3:06 pm
Josie Sullivan
CO- Most wouldn’t guess this but we have Rock Port in Missouri that was the first town in the nation to completely convert to wind power.
By Josie Sullivan on 07/22/2008 3:37 pm
C Hardy
I guess that is my point…why can’t we convert to wind power? Because it doesnt look pretty? But if it works then so be it, right? I’ll put one in my backyard if it would or could power my house forever! I also get depressed b/c to buy a pound of apples at walmart it is now $1.99 for a pound…I just don’t get it…Guess we need to go back to hunting and growing our own food. I plan on planting a garden for fresh veggies next spring & getting some fruit trees. I don’t see how the experts can’t see where we are headed. We work hard & we (being me and my fiance’) are barely making it.
By C Hardy on 07/22/2008 3:49 pm
DeBúrca obj
CO - Have you heard of T. Boone Pickens and his plan that could have us converted to wind and solar power in 10 years? He’s a retired Oil man too. Check out his website: http://www.pickensplan.com/
By DeBúrca obj on 07/22/2008 6:14 pm
kathy hurt
DeBurca: We live quite close to Rock Port.Have went to the wind farm there,actually in a way it looks like beautiful white pinwheels ,the kind we use to play with as children My daughter and I said they could be painted pastel,out there in that field(something diffirent,she’s a design student).I am sure they are white to due with sun reflection.After talking with the town people,they say it is UNBELIEVABLE what they have saved.Had they not been there and live this way,no way to explain. Lets Harness The Wind!!!!!!
By kathy hurt on 07/22/2008 8:23 pm
DeBúrca obj
I’m with you kathy hurt! This Picken’s Plan is pretty exciting to me. I am hopeful that we will go in that direction and not be sidetracked. Obama says he sees us focussing on alternative energy in the same way Kennedy focussed on the Space Plan… to get it done in 10 years would be wonderful.
By DeBúrca obj on 07/22/2008 8:34 pm
Josie Sullivan
Kathy- That was me talking about Rock Port. I live in Columbia. I haven’t seen the town yet but I’m proud of them all the same.
By Josie Sullivan on 07/22/2008 8:36 pm
No Way-No How -No McCain
De Burca— Thanks for the link…great….and back at you with one of Al Gore at Ted Talk. http://www.ted.com/index.php/talks/al_gore_s_new_thinking_on_the_climate… I have a lot of great green links on my site as a database for people who are interested. About to do a Facebook activism site for the Plant A Billion Nature Conservancy project. http://web.mac.com/myfrenchheart There actually is a lot that’s being done….can’t wait for Tom Friedman’s new book. Living here in the #2 Green city in US and also amidst all the venture capital etc it seems exciting. China is leading the way on solar….France, Germany and Japan ahead of us. If US doesn’t get with it we will not be an economic power at all because the next economic powers will be Green based.
By No Way-No How -No McCain on 07/22/2008 10:36 pm
Diana T
Suzanne, I think that’s you with this avatar? July seems like a lifetime ago. Remember how you are always talking about Glass-Steagall? Phil Gramm spearheaded the gutting of that act, and look where we are now. I guess you realize he is McCain’s main financial advisor and was the one who wrote McCain’s economic policy. And, I hear he is on McCain’s short list to be Secretary of Treasury. http://losangeles.injuryboard.com/miscellaneous/the-subprime-mess-and-ph…
By Diana T on 09/15/2008 9:01 pm
Mugsy Peabody
Much of the country did run on wind power until the middle-50s, early 60s, when windmills were torn down. Much like the train service we used to have before the oil boys and the car boys bullied us into destroying the trains as well.
By Mugsy Peabody on 07/23/2008 3:23 am
linda trueblood lambert
1. There have always been and will continue to be economic cycles…..some worse than others but not really the fault of any one person or policy (let’s blame Hoover!). 2. The corrections in the real estate markets and consumer debt are needed. 3. Why is everyone surprised about the energy issue? OPEC bans? Small import cars? and now what do we have? 1 in 4 American autos are large gas guzzlers. Shame on us for not learning our lesson. 4. Wind mills -no surprise - just not in my backyard (i.e. anywhere Teddy K. and the wealthy live - poor Dick Cavett!) 5. People need to get a grip, get rid of the honker cars and having 4+ cars/family. In our community, we are still paying for school bus service when all of the HS darlings are driving their MB/Caddies to school. Great planning America!.
By linda trueblood lambert on 07/22/2008 7:16 pm
DeBúrca obj
A a 100 sq mi. solar farm in any desert could produce all of the electric supply for the US. This stuff CAN be done. And I’m sure as heck that anyone facing the option of a Nuclear plant anywhere near them would be thrilled to have a wind farm instead! As far as the SUVs and Hummers, etc. Americans are spoiled, vain babies. I remember after the gas shortages in the 70s everyone was talking about how GM missed the boat by continuing to produce huge cars so the Japanese cornered the market with their smaller cars because people were downsizing due to the oil crisis. Then the 80s rolls along, everyone’s forgotten that we STILL have an oil crisis, they start buying bigger cars to the point now we have idiots driving around in SUVs with “Save The Troops” magnets on the back and even bigger idiots driving Hummers! And they’re perfectly fine with doing so, even though we know our oil consumption is causing us to wage wars in the Middle East… People were just thrilled to show the world how wealthy they were they could afford the huge vehicles AND the gas, who cares about the environment or the political ramifications. Now here we are just as we were in the 70s… with an American auto industry that is caught with it’s pants down. Also, it didn’t help things when Bush took away the tax credit for Hybrids, yet extended the tax credit for Hummers. THAT is our oil policy when we have oil men in charge!
By DeBúrca obj on 07/22/2008 8:44 pm
Sherrie Crews
Also, it didn’t help things when Bush took away the tax credit for Hybrids, yet extended the tax credit for Hummers. THAT is our oil policy when we have oil men in charge! By De Búrca on 07/22/2008 8:44 pm” You hit the nail on the head yet again De Burca. It also happens to be the same man who is giving tax breaks to companies who take their manufacturing operations and American jobs off shore so the CEOs can get richer, and who along with his family was bailed out by the government for the Savings and Loan failures in much the same way and for much the same reasons that the government is now having to bail out the banks; shady manipulative practices and greed, greed and more greed with no consideration at all for the cost to the American working people. It’s all about their money and their power. Yet people are still believing that the way to solve the energy crisis is to give the oil companies that are holding this country hostage for oil right now even more land to drill on and more power over us rather than concentrate on alternative sources to break their hold on us.
By Sherrie Crews on 07/23/2008 7:26 am
DeBúrca obj
Well, don’t you know, America is CAPITALIST when it comes to profits and SOCIALIST when it comes to losses?
By DeBúrca obj on 07/23/2008 9:08 am