Another Great Depression?

Are We Headed For Another Great Depression?

http://blogs.rockymountainnews.com/rebchook/2008/09/are_we_heading_for_another_gre.html

This article states that a man named Mort Marks believes that we are in another Great Depression. Marks has lived through the depression before and remembers people coming to his father for help financially. He is personally afraid now that Lehman Bros. has declared bankruptcy and thinks that we are lucky another company like AIG has not had the same situation.

I think the man's overreacting big time but that may be because I am not that big in the politics and don't involve myself in these kind of situations that do nothing for me now maybe in the future, but not now. I do agree though that we do have quite a lot of people in financial trouble, with all the foreclosures happening around us, it's kind of obvious that people need help. When Marks says that people are putting things off like buying new cars, I think he is wrong. I think that they are budgeting so they have the money for the things they need. I mean, aren't necessities the first choice for spending money. The way I look at it is that if your car can run and get you where you need to be, then no car needed. The truth is that people do need to be aware of where their money goes and need to find a better way to budget it properly so they are not in financial trouble.