

Wall Street fears for next Great Depression - moog
http://www.independent.co.uk/news/business/news/wall-street-fears-for-next-great-depression-796428.html

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yelsgib
I think this could be the source of a lot of interesting discussion w/r/t
startups. In particular, I'm interested in people's opinions regarding the
influence that this will have on the ability to create startups in the US in
the future.

I am (was?) planning on starting a company with a few friends when I come back
to the US this September - will this still be feasible? What sort of impact
can I expect this sort of event to have in terms of getting funding/etc. Do
you suggest that I just scrap the whole intention to create a startup and try
to buckle down and get a job (in case the economy gets really bad)? Should I
consider leaving the country?

I expect that most of the answers will be "things will be bad" or "it will be
hard" - but I guess I'm looking for something more concrete/specific (if
possible?). I'm pretty naive about matters concerning such large scale systems
as the US economy/etc.

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nextmoveone
If things get really bad I'll probably try to get over to London or somewhere
with a stronger currency.

If things are just crappy, I'll stick it out, and dip into savings reserves if
needed, while sticking with the current day job.

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davidw
Moving as the dollar weakens just means you'll blow all your money buying your
new currency. And a strong currency is not really a guarantee of much - it
just means that there's a bigger incentive to buy stuff in dollars or yen or
whatever else is weak compared to the euro zone.

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lowfat
I am quitting my job in 6 weeks to freelance. All this news about the
recession is kinda freaky. The wheels are in motion and I am not turning back
- recession or not (gulp!).

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nazgulnarsil
every depression since the big one has gotten milder. If you look at the
actual numbers the people getting burned are the assholes who made idiot
wagers on the housing market. The only thing that will make the recession
worse is funding bailouts with taxpayer dollars while we're already in thehole
for the war.

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BostonDave
Is this Digg?

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admoin
I'd agree it's not even close to Hacker News per se, but this is a big enough
deal I'd say it belongs.

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tim2
The prediction of "a 1930s-like Great Depression" removes all credibility from
the article. Why should I even continue to read after that?

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Prrometheus
While I believe there is no evidence that a "1930's-like Great Depression" is
in the offing, I can't recall a crisis in US financial markets as significant
as this since the 1930's. The comparisons are premature but not unfounded.

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michaelneale
You can recall the 1930's? that is impressive ;)

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jdavid
my grandma can, but she does not have an account on hacker news. actually my
great great grandfather made a fortune in the depression, well, immediately
after it.

