A Depression in Our Future ?

Increasing numbers of economists nationally and globally that are not associated with governments, politics, corporations, and media are starting to become more convinced the US is headed towards a Depression. Most economists in the limelight are saying nothing like this, but the underlying evidence is very disquieting. Additional debt is being used to finance the solvency of financial institutions that are staggering due to debt, primarily due to foreclosures, failed businesses, and increasingly slow pay by business reeling under the drop in sales and revenues. Actions that could be more forceful and effective in dealing with the growing economic crisis could be taken by the US federal government, but ideology and politics will all but prevent this. In many ways, it is looking like 1928 and 1929, and a McCain presidency may ensure the doom's occurence.

http://abcnews.go.com/Business/Economy/story?id=4544872&page=1

*****