Anonymous
Anonymous asked in Social ScienceEconomics · 2 months ago

Isn't the coming economic crisis likely to be as serious as that of 1929?

8 Answers

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  • Lv 6
    2 months ago

    yes, it will be hell to pay

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  • Anonymous
    2 months ago

    Nobody will know for sure here until it dose happen. 

    Only God knows all ahead of time. 

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  • 2 months ago

    I hope so. lots of people made a lot of money in 1929, great opportunity 

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  • audrey
    Lv 7
    2 months ago

    Absolutely. Life as we know it is over.

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  • Oiy
    Lv 6
    2 months ago

    Yes, but it won't collapse the stock market. It will be so serious that the unemployment rate will be skyrocketed, and it goes to the grassroots and small and medium businesses alike. How can we repay the debts after this crisis? The printing money worldwide is not even called a stimulus package. It has not even stimulated growth to repay back the debts?

    • Lv 4
      2 months agoReport

      interesting reply;also,its very different than the previous century, then there was underconsumption of durable items anany d supply of inventory stagnated; currently many places lack manufacturing caacity & distribution systems of common items,so there isnothing to purchase & nofactories to work AT

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  • Dr. D
    Lv 7
    2 months ago

    NO. Every single economist is predicting a sharp but temporary economic recession. It should be less than a year long. It isn't anything like 1929 because financial institutions were in good shape when it started. 

    • Lv 6
      2 months agoReport

      you call the huge amount of debt everyone owes, a "good shape economy"?

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  • JuanB
    Lv 7
    2 months ago

    No.  Almost 7 million people have filed for unemployment insurance.  In 1929 it didn't exist.

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  • 2 months ago

    Unlikely. 1929 had market related causes. This one does not.

    • Lv 4
      2 months agoReport

      interesting answer; the two contexts are very different, and many societies are also very different from a century previous

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