Are We Headed Toward The Next Great Depression
Whats good wealthbuilderz
its yah boy DeVaughn back again with another video and today we are talking about.
Are we headed toward the next great depression?
So I’ve been watching all the economic issues this covid19 crisis is causing and I was wondering
Are we headed toward the next great depression?
As most people.
Now this is my opinion and my opinion only
but for what I’ve read and witnessed
I really don’t think we are headed towards a depression. Maybe a recession but not a depression.
First reason is because our economy is different we as Americans don’t depend on manufacturing and
agriculture like we used to.
Since 1929 we have become much more diverse as an economy we don’t depend on 2 sectors only.
We can literally sit at home and work from home when it comes to a big portion of the economy and we aren’t going through this financial crisis due a financial problem. Its more of a health issue that is causing our economy to have problems.
Two. Our government is responding differently. Back in the great depression The government responded
in a way was to tighten on everything. This government is at least trying to pump money into the economy and keep us afloat.
Three like stated before this downturn is self imposed Unlike other recessions where there was a housing bubble or fintech bubble that bursts and put the economy in a down turn. We actually are doing this ourselves to combat a health issue that can ultimately pass in the next 3 -12 months and we will ultimately start to get back to some type of normalcy.
So thanks for watching its yah boy DeVaughn signing off for
Are We Headed For Another Great Depression
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