Mathen wrote:This is unfortunately most likely 100% spot on regardless of who wins the election. Historically speaking, every time there has been a period of recession (well... at least for the last 500 or so years) that was caused by a financial catastrophe, the "down period" has been almost exactly as long as the bubble that preceded it. We had a seven year housing bubble, so... Got about three more years before the news actually starts getting good again.
Economics is a new science. It is really only about 100-125 years old. The pre-1900 economic history is not as clear as analysts would like it to be. So, much of what is presumed about the economy pre-1900 is based on scant government records and individual business and banking records that have survived.
Interestingly, the Great Depression was not the first depression the U.S. ever suffered. There are many, many accounts and some records of wide spread depressions and recession here in the U.S. and worldwide that date back a few centuries. My point is two-fold: This is not the first terrible recession we have ever had (I personally remember the '70's Recession(s); gas price spikes and food price freeze(s) along with W.I.N. buttons from Gerald Ford which stood for Whip Inflation Now!); and I believe we will recover yet again. The issue will be how long it is going to take- which does not have a good outlook.
Anyhow, I know I keep repeating myself, but I do not believe the U.S. fully pulled itself out of the Great Depression until WWII came along. This one is going to take a long time too. Unfortunately, there is a world-wide recession/depression occurring at the same time right now, which means our recession is even worse and might get much worse. And, we cannot use our industrial capacity to get out of the recession quicker because the rest of the world isn't buying right now.
And then, there are several competing political opinions about this mess, who is responsible for it and what needs to be done to solve it.
But, again, I digress. Which Presidential Poll(s) do you consider to be unbiased?