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IPFS News Link • Economy - Economics USA

National Bureau of Economic Research: 50% chance of depression in US

"There's a significant probability things will get worse," Farmer, 53, said during a phone interview Friday. "We're certainly not at the end of the recession and things are getting worse."

2 Comments in Response to

Comment by Richard Stone
Entered on:

Dig a hole and hide you guns, food and valuables. The government is in charge and it will protect itself, so don't expect any help.

Comment by Sharon Jarvis
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I love the way they blame it on a loss of confidence instead of the real reasons: the average American has no money. Even though gasoline prices are now way down, no other prices are falling. Originally stores blamed higher prices on transportation costs. So now that gas and shipping costs less, so should other things, right? Wrong. Even propane and kerosene, which come from petroleum, remain sky high. (Kerosene is double what it was last year.) My utility bills keep going up; so do my school and property taxes because the states are going broke as well. I predict as more and more jobs are lost, and the economy continues to slide into the current world-wide recession, we WILL have a depression. And me putting on a happy face won't change that.