After seeing all the signs of a recession, the politicians still deny it. After witnessing the stock market with the Lehman Brothers collapse yesterday makes me wonder if we are moving towards The Great Depression (Part 2). Just a question to see how others view it.
The current trend and the way things are going sure point to another Great Depression. I think there are more surprises that are bound to come. I thought everything starts to recovers once oil prices go down but it seems it is not likely that way.
It's really economy. The Republicans have had a stranglehold on it since the bad old days of 1980 with huge deficits run by Ronald Reagan for the nuclear arms race and the Cold War while real income for workers went down and middle class stagnated. That's been made even worse by eight years of George W. The rich are doing very well due to the war profits enriching the US but everyone else is getting only trickle down and nickle down...
With AIG looking for support is not a good sign. I have them for insurance as well. With the Largest Health insurance crumbling and big banks falling, The future isnt looking too bright.