Is a 2nd great depression inevitable?

[Puremallace]

So a thought has been recently running through my head about generational differences in the period between the 1930's and today. As I look around there seem to be clear indicators that something is extremely broken with the economy. Right now we are told that because the stock market is doing great that everything is fine but it does not feel that way.

After doing some research there are echos to right before the great depression. When Wall Street crashed the US economy that was sold as healthy did not turn out to be that healthy and was based on heavy debt burdens. This caused the depression to spread as confidence died down. I am not sure about a lot of you but prior to getting stupid lucky almost 2/3 of my checks were devoted to bills if not more. For example out of a $1,000 check I would have $200 left over after credit cards, student loans and other bills.

As a country the US has an extremely heavy debt burden of upwards of 20 trillion, social security will making serious cuts by 2030, and Medicare A will also be facing huge cuts. Add in the fact retirement savings are just horrible considering our life spans and the way this current stupid system is set-up.

If you ask me there is a very serious disconnect between Wall Street and Main Street given this search for profits. I am not sure when a depression will get here and maybe we will have a few recessions in between but something major is coming.

[XDurionX]

The next crash is just a matter of time unless the banking sector gets heavily regulated, which won't happen.

[Azadina]

It's a matter of time I believe. Wealth inequality has never been as high as now, and that gap continues to grow, along with living expenses, but the one thing that really isn't growing much at all: workers wages. Those have been more or less stagnant for many decades now.

[Deleted]

If we continue the way that we have since approximately 1983, yeah, it is almost inevitable.

[Aggrophobic]

It will crash, there is no avoiding that.

[Taso]

Social security is planned out way ahead usually before any actual problems occur so that's not an issue. Medicare and Medicaid have proven to be of little real effect. After all if wealth inequality is rising as most center left articles promote then they should be removed and given back to the states. Imho.

As for the Depression itself yes it could happen but i don't know what will cause it. The USA itself has not been laizzae faire since 1800s. Income tax was added in 1913 same time the federal reserve was created. Tarrifs have been lowered since the 30s or well when we started the free trade agreements prior to wto. What I do know is the Great Depression was not this sudden explosion of falling stocks it was more gradual over a period of time and infact their were periods in the 1930s when the stock market rose but ironically unemployment also rose too. (Try to figure that out).
Also the new deal which came as a reaction to this Depression was not without consequence and no this is not right wing rhetoric I'm talking about this is as pure history. The Social security act itself did not provide the same benefits now as it did back then as certain jobs were forbidden from having it.(absurd to think now)As left wing as his policies(fdr)were, even the communist party of the USA thought FDR was not doing enough or he was fascist while those to the right well you know the drill he was called socialist<----- (Sorry if this seems scattered it's rather a big difficult process to shorten it and make it sensible)

So if we do have another president when this crisis occurs FDR would not be the best role model to take and only the policies that did work should be kept if it's applicable.Everything else I would say no to imho.

[Independent voter]

It crashes all the time.

Value of the top 500 US firms.

[Knolan]

The next crash is just a matter of time unless the banking sector gets heavily regulated, which won't happen.

I don't see how regulation would stop it, it was one of the things that got us to this point in the first place.

[Sky High]

when the name of the game is "growth and expansion" and not "stability" you get boom and bust cycles. this happened leading up to 1929 and unless more money is put in the hands of the people who actually spend their money then it will happen again. but good luck trying to get that through to any politician in power right now, they'll just call you a communist.

[Deleted]

Yes because.. lets approach this from a point that should be clear to the lowest common denominator. People want more free shit. No one wants to pay for their free shit. Whats gonna happen is ... Greece.. or Venezuela.