Bigger Than The Great Depression

I'm sure you've seen the headlines, "House to Vote on $700billion Bailout Plan" and "DOW Drops 500 Points, At its Lowest in History", but this is just one company. If you turn to channel 58 (MS NBC) or 59 (CNBC) (and watch the little moving columns at the bottom of the screen) you'll notice that 9 out of every 10 of these companies shares are in red, meaning that the companies worth per share is down/decreasing in value. Decreasing in value drastically and its not just in the US. Its all over the world!

So I was up last night till about 3 in the morning watching the stock market over in the UK. I, myself, do not hold stocks nor do I have a great interest in them. However, i do realize there importance in the world and how it effects the economy. As i am watching, i notice that not only is the stock market in the UK down drastically but the Prime Minister over there is purposing the same idea as our government. A "Bailout Plan", which in my opinion, says "We're going to print as much money as we need to..." but what they don't tell people is it might cost a $100 for a loaf of bread. Being that the value of our dollar (which is already almost nothing) is going to be worth even less.

I went and spoke to both of my grandparents about this issue wanting some knowledge about what to expect and hopefully a little comfort that it will all be OK. What i got was 2 very different opinions. My grandpa said that basically, "This will be a worldwide depression!". That people who were rich last week (even well off) are broke on their ass today, because of the market. That jobs, food, and especially money is going to be very scarce in the world for awhile. But when i spoke with my grandma about it she said that, "She thinks America needed the 'slap in the face'. That people now days are to fat and to lazy, and this is a wake up call we've been needing". Adding that - her grandma (my great, great grandma) lived through the Depression of '29, in Durango, and the only way it really effected us here was that certain things were rationed. Meaning when you went to the store to buy them, you'd get a piece of paper saying that they were out and you were guaranteed one on the next shipment.

In conclusion, I know this has been going on for a least 8 years now. The Bush Administration has a huge part to with it being that before Bush's presidency the US had no national debt! I hope my generation can elect a good official to represent our counrty and to help with the economic state of the US.