I’ve noticed people comparing this current economic crisis to the Great Depression. All we need is another Dust Bowl, this summer, and a modern day Steinbeck will be born. With all the government spending during the 1930′s, it still took a world war to breath life back into the economy. What, short of war, will get us out of this recession?
Will it take another World War to pull us out of this mess if it becomes a depression?
22 Responses for “Will it take another World War to pull us out of this mess if it becomes a depression?”
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1) Finding/developing another cheap, portable, dense energy source to replace oil, which has just reached its production peak.
2) The comparisons are true, this IS the Second Great Depression. And it will bring starvation, war and the rise of political extremism.
3) A Third World War is certain to come out of this economic mess. And given the weaponry that will be used, it will make World War Two look like a drunken race riot.
It’s Obama and the Democrats that keep using their lovable word “depression”. We are no where near that yet, but it almost seems like that’s their goal.
Obama was plain wrong by saying this is the worst economic crisis since the great depression. Incorrect. The one under Carter was worse, although it seems Obama’s orgy of spending with his liberal friends should close that gap soon enough.
What will get us out is to get Obama and these liberals (they are not true Democrats) out of there and get a president like Ronald Reagan was. He turned it around and that’s a fact. I’ve provided a link about what Reagan did to save the economy if any libs care to read it. You won’t though, because you ignore history.
Reagan created 20 million new jobs. Obama wants how many? 3.5 million? Nice goal Obama.
Added: “Shilo” – Absolutely wrong. I don’t know where you learned history from but even liberals will tell you that World War II is what brought us out of the great depression. I swear, some of you liberals are the ones who like to rewrite history. These are not “hotly contested” they are facts. It’s all there, read it. I’ve provided you a link.
“With all the government spending during the 1930′s, it still took a world war to breath life back into the economy.”
Sorry, but that is a gross oversimplification and is hotly contested by many leading economists.
Most agree that we were recovering from the depression as early as 1933, well before the war. In 1937, the US experienced a separate recession during the recovery from the depression. For the most part we were recovering nicely from that recession by 1937-1939. The US military buildup did not commence until mid 1940 and did not have any great affect on the economy until well into 1942.
Please do a little more research and try not to oversimplify in the future. Just as was the case then, several different things have created the current recession, and a combination of factors will cause our recovery.
we have far more powerful weapons now then we did back in ww2
google world war 3 and read what it says that could happen……….we have enough powerful weapons to end earth 7 times over……a simple exchange of nuclear bombs, can completly end this world or bring us in an ice age
so no, i doubt that a ww3 will help our economy, as there will no longer be one
Back then people were not ready for the great depression. They didnt know how to solve it. They let the banks go under which brought everything down. The economy will ALWAYS resolve itself. Ask a republican or democrat economist and they will both tell you that. ALWAYS 100%. Just nobody knows how long it will take.
Now though, we were ready for it. The government is helping out the banking system, which will breathe life back into our economy. The banks are not lending money, thats what is causeing most of this. Business’, and people alike live off lended money. Businesses cant provide jobs without banks lending them money, but the government is pushing the banks to lend money by giving them money. This alone will largely stimulate the economy, not saying it will bring it back up but it WILL stimulate it. The reason the government gave the “Big 3″ so much money is because they helped us out of out last big recession. They provide a huge number of jobs, but they are going down, and that doesnt have much to do with the economy, has to do with competition.
We dont need another World War, we arent nearly as bad as we were, and anyone who says that we are knows nothing about macroeconomics. Or microeconomics for that matter. We have become a service country, a retail country rather then a production company, so a World War actually wouldnt help us that much either. It would almost bring us down, because most of the resources would come from over seas.
When it hist the LIBS in their stadart of living!
Just see if they what to have black rehab in their part of town!
They are the racist! Thay make the blacks dependent on walfare. More blacks 63 % are in the low paid governement jobs!
But Pelosi is an idiot in charge:
PELOSI: Every month that we do not have an economic recovery package, 500 million Americans lose their jobs.
GLENN: Whoa, wait a minute. Could you play that again, please? Every month that we don’t have an economic stimulus package, what happens?
PELOSI: Every month that we do not have an economic recovery package, 500 million Americans lose their jobs.
GLENN: 500 million Americans lose their job every single month we don’t have an economic stimulus package.
STU: Now Glenn, if I’m remembering correctly, the entire U.S. workforce is about 140 million people. So we’re talking about in one month from now, we’re talking about just in one month, 30 days.
The people that engineered the great depression created World War ll Economic crises are done on purpose by central bankers to cause wars, and you should google “Federal Reserve” to find videos that explain fractional reserve banking. Wars create jobs, but the government could easily find some other way to invent jobs for people on a massive scale, even if it just means 10 million people picking up trash and cleaning graffiti for $9 (lol). War costs in real terms, and all the “benefits” to the economy are really just concocted, convoluted evil nonsense that “experts” use polysyllabic terminology to explain away. No matter how much I learn about economics, nothing changes the fact that in real terms (resources) war is costly, and the economic benefits are mostly psychological. It’s done on purpose.
I think that is exactly what’s going to occur. This one will be truly global.
Though it could have been avoided.
Wars are never good, they only destroy lives and wealth.
If wars could stimulate an economy why don’t use just build a bunch of tanks/planes and then blow them up?
The only reason WWII stimulated the US economy was because every other country had to rebuild from scratch, while US had most of the world’s factories after the war.
Also I am hoping you are not saying we should go blow up everyone elses’ infrastructure just so we can be rich again.
War generally changes the power pattern while WW II saw the emergence of America as the new super power and it is possible WW III may lead to emergence of a new super power may be China. But today war is not the solution.
As President Obama is already imposing restrictions on outsourcing of employees on corporations that the government has aided for revival, similar restrictions should also be imposed on outsourcing of goods to boost local industry. While America is a Super Power it also has a strong consumer base which basically runs the economy. Through generating more employment opportunities once money power is put back in the pocket of American consumers, the economy will start rolling again.
THIS COUNTRY IS DOOMED. THE DATE OF THE BEGINNING OF THE END WAS NOVEMBER 4, 2008
Uh, aren’t we already involved in TWO wars? Could it be that spending gazillions on those is what put the economy in such dire straits?
World War II stimulated American economy before the US entered the war, not after the US entered the war. The economy boost came from selling supplies to the waring parties, before the US entered the war.
So please stop saying that destroying American lives and property is good for the economy.
Well, another world war aint gonna happen this time- here’s why: Can you see these young kids joining the military?!?!?!? In WWII days kids lied about their age to get in the service, now they cant even name all the branches! Plus, we dont have the infrascture to fight like we did then..no steel mills, no ship yards, no aircraft factories, and maybe soon, no auto makers!! What are you gonna do?/ Walk or swim to the fight carrying a club??? Times are different now…Its global depression and I dont think history will repeat itself…..they way we are gonna get out of this is with good old fashioned ingenuity and hard work!! Invent things the world wants and can use, have anation of craftsmen- carpenters, plumbers, electrcians, cobblers, butchers etc and get all the govt red tape outta the way
“Will it take another World War to pull us out of this mess if it becomes a depression?”
YES!
World War III will not only end the financial crisis, IT WILL ALSO END HUMANITY.
yes
artistgmg3 is right it MIGHT end humanity because there will be nuclear bombs in WWIII
start a war with north korea, iran, venezuela and cuba thats the solution.
Just be thankful that George Bush is no longer your President. Be patient, and see what Obama will do. He’s been president for what, less than 2 months. Give him some time to accomplish the ideas he has, then you’ll see what happens.
Hey Greg, stop making yourself sound like an ignorant bigot by calling everyone a “liberal”
Seriously, you’re embarrassing yourself.
Greg, your post was crap. In that lengthy paragraph, not one sliver of a solution to this problem was mentioned. All you did was waste my time with fruitless, repetitive attacks geared towards “liberals”.
Guess what? OBAMA’S ALREADY PRESIDENT!!! GET OVER IT!!!
Rather than fighting him each step of the way, you “Conservatives” need to actually get dismount your high horses and try to get something done.
PS. World War 2 did stimulate America’s economy. This wasn’t as a result of the U.S.’s joining the war, but of the sales made by America that supplied weaponry to other global powers in the world that needed them.
But, at the same time, please do not hope for a World War Three! You know what will be different this time….? NUCLEAR WEAPONS! There wouldn’t BE a world remaining after the war ended.
for our sake i hope not, but whos the war gona be with?