Economy collapses. What happens where you live?

In the past few months, the USA has seen many banks close. Most people in the USA don't own their own homes. They buy them with mortgages that they get from banks. Banks lent more money than what people could pay back. Now banks have taken back millions of homes and thrown people out on the streets. The US Treasury and Federal Reserve has just bailed out two of the major lenders by guaranteeing the stock of these companies with more money than the US government really has. This is part of a worldwide Economic crisis that could see every major country in Depression. The US and the world had a major Economic Depression in the late 20's and all of the 1930's. It was a terrible situation. The US and other countries have advanced in so many ways since then. Lifestyles have changed and grown. When the next Depression hits, most people that lived through the previous one won't be alive to tell about what it will be like. 

My question here is: When this Depression hits first in the USA and then around the world, what kinds of things happen where you live? How does life change? What things will you have to give up because you cannot afford them? Will there be more crime and illness where you live? 

Nobody know for sure how bad it will get, but you can imagine and describe different scenes using the questions I've asked as a basis for your story. I will do the same, so you can see what I mean. It is a good thing to think about. Don't you think so?

Seems like some parameters are going back to normal such as oil prices. I hope intangible bubble will also pop as soon as possible. Housing is still extremely expensive. To own a house is a luxury in Turkey!

Yes… Which sentence were anti-socialists parroting? Remembered: equality in poverty. True… We are equal in subsistence, poverty, even slavery

first time by ebaby the members have less fights,nice to see how peaceful life talk can be,at the moment is love the most used word not war or terrorists it make me hope.

but only with love you have nothing to eat…therefore i want to remember to the finance crisis.sometimes i don't want to have right , but the finance crisis slide now very quick in the economic crisis or better in the recession.

heard from a neighbour who run successful his own small handicraft business …now he can't sleep in the night stand up in the middle of the night to watch tv everybody is saving the money no work is avail able…the biggest chemical company BASF will stop 80 industrial plants next year for a time because the automobilindustrie need no chemical products….

yes progression at the moment the economy came back to the normal but the financial crisis is so big so we will not have only a recession like usual.i think now came after recession  stagnation it means the prices falls and after recession many people are jobless,hope not that then came inflation this means money get nearly worthless…i think someone under the ebaby members has studied economic history…can you explain in simple words what happens in the finance crisis 1929 till1932 .

i really hope that we not get this.

our politican want to support the automobil industrie from the US company General Motors.

 in Germany the GM plants called opel.the german tax payer should pay for the american concern.