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I think the government and the wealthy in this country have a responsibility to make sure increasingly large numbers of Americans aren't left to fend for themselves with no savings. After all, they were the ones who shaped and ultimately benefited the most from this debt ridden economy.
In the end, whether it's a depression or a recession, though, I think we were long overdue for a huge correction and the various markets need to bottom out and have all of the bubbles pressed out of them. If we come out the other side in anything resembling stable shape, I only hope that we'll learn something from the experience and not just start inflating it back up again. I'm not hopefully of that, though. I imagine we'll keep up with the bad habits until we really have to sizzle in hell for a while before we learn anything.
Unemployment could double, tent cities could become common and Richard Shelby, John Boehner, Mike Pence, Mitch McConnell and Eric Cantor among others will still be saying the exact same things they are saying now. So will the Republican punditocracy.
http://en.wikipedia.org/wiki/Flexicurity
The first law in America was to require farmers to grow hemp to supply our armies and communities with food, fuel, and fiber to win a war!
And here's what's interesting about hemp! If mass produced, it cleanses the air and heals the soil, the hemp seed can be cured and ground and provides the perfect sequence of amino acids so it is the perfect protein for humans to consume. The seeds are saturated in Omega 3 & 6 oils. It's high in enzymes. Hemp provides a highly nutritious food and cleans the air and, again, heals the soil. Also, it has the highest yield per acre compared to every other plant on the planet, many times over, including all trees. In other words, when it's grown in mass production, you get at least 4.5 tons more per acre of it, and it's all usable, no waste!
Mass production of hemp can be accomplished primarily on small farms, but corporations will want to monopolize on it and continue oppressing us with high prices and poor quality. So, when you organize your communities, know that it cost pennies per pound to grow hemp, including medical grade hemp ("medical marijuana", as we all know it). In other words, it costs less to grow and package a pound of medical hemp than it does a pound size bread, meaning, when you go to buy medical hemp from a farmer or store, you should only pay what, ...$2.00 per pound? Here again, watch out, the people who make billions off of "marijuana" prohibition will want to continue monopolizing upon us and charge thousands for pounds.
Anyways, if you do your research, you'll find the only solution to America's economic woes is hemp, but the corporations don't want you to know this, and our government is not helping, if anything, they, "the government", are simply an extension of the corporations as they are heavily funded by corporations.
Great thread!