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Old Monday, March 17th, 2008
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Default Re: Wall Street fears for next Great Depression

Quote:
Originally Posted by Mynydd View Post
Of course the effects are not going to be like the 1930s Great Depression. There are many more factors to take into account this time. For Europe:
  • Trade (and even production) is already highly dependable on a globalized structure.
  • Industry delocalization is already at a much advanced stage.
  • Agriculture, cattle farming and other food produce industries have been largely cut to force a dependance on outside countries.
  • Populations in Europe are larger than in the 1930s, and heterogeneous, with a considerable share of the population being of foreign origin.
  • Petrol and gas production are on a downward trend, and prices are on constant rise.
Add more, such as social and family structures being today not the solid structures that they used to be. You name it, we have it all in negative.
Does this mean we are inevitably doomed?
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