Are we heading for another Great Depression?

With global stock markets falling due to the mortgage crisis, and the economy generally going into hard times because of a lack of credit, are we going to have a repeat of the great depression seen almost a century ago?

Of course, nobody wants to see what happened in the great depression happen again, least of all the governments and central banks of the world, who are trying to provide credit to banks and buy failed mortgages to restore stability.

The question is, will this solve the problem?

Or will we see another great depression?

I for one don’t know how this credit crunch and financial crisis will pan out, however the stock markets have gone up alot recently, as we mentioned in a previous post, Will there ever be another depression? .. but what about you?

What are your views on the financial crisis?

Will it cause another great depression?