Recently I mentioned I was worried about a worldwide Great Depression or Great Recession

Obviously now, I'm less worried about this than before because of the new POTENTIAL treaty with Iran.

However, NOW the problem could be Netanyahu destroying the whole world's economy instead of Trump who seems to have realized he needs to end this Iran thing whether he has made any progress or not. Because the Peace Deal Obama Made with the previous government of Iran was likely better than anything Trump can get now. So, now Trump and his cronies are going to have to eat sour grapes because of this in complaints from literally everyone on earth regarding march through June and how it harmed the whole world's economies and harmed civilization and starved people to death and killed a lot of people in the middle EAST.

At least we didn't send in troops to die like the 30 to 35,000 Russian Troops killed by "Hand grenade" style drones in Ukraine every month that are very small (the drones) when they (the Russian Soldiers) are walking around above their bunkers or outside of their armored vehicles of one kind or another. However, if a hand grenade went off outside the window of an armored truck would a bullet proof window blow out and kill the driver and the passenger of an Armored Car. I'm not sure about this because we don't know what kind of explosive or fragmentation device might be used. For example, with enough PLastique which looks sort of like clay almost any window bulletproof or not is likely going to blow out and blow glass and the fragmentation all over those in the front seat if a front or front side bulletproof window is blown out onto the occupants of the armored vehicle like a Humvee for example. 

Also, the Russian Soldiers walking around anywhere in the open in Ukraine are regularly blown up night and day because of night vision goggles and scopes used on Ukrainian night "Hand Grenade" drones which can be used in the daylight or any time of night or day.

So, is a Great Depression or Great Recession worldwide coming still?

That's really hard to say now with all the changes. However, many countries and areas on earth could be considered to be in a Great Depression or Great Recession already worldwide and might not come out of these anytime soon.

 begin quotes (answers) to the question: "Which countries could be considered to be already in a Great Depression?

 

While the historical Great Depression of the 1930s featured a uniquely systemic collapse of global output and the gold standard, economists and global institutions categorize certain nations as being in localized "economic depressions" today. These severe downturns are largely triggered by geopolitical conflicts and extreme supply shocks. 

Countries currently experiencing depression-level or near-depression contractions generally fall into two categories:

1. Nations in Active Conflict Zones

These economies are facing catastrophic GDP collapses, hyperinflation, and the total destruction of infrastructure: 

• Iran: Heavily impacted by regional conflict and trade disruptions, the country's GDP is forecast to contract sharply. 
• Iraq: Similarly engulfed by the broader fallout in the Middle East, the nation is facing massive constraints on energy and commodity exports. 
• South Sudan: Driven by regional instability and a severe reliance on oil exports through neighboring Sudan, the economy has collapsed, leaving security forces unpaid and compounding an extreme, localized hunger crisis. 

2. Countries Facing Severe Macroeconomic Crises

These countries suffer from crippling sovereign debt, hyperinflation, or total losses in purchasing power, pushing domestic populations into poverty:

• Lebanon & Argentina: Both nations have endured multi-year economic contractions, chronic inflation, and severe currency devaluations that have dismantled local purchasing power and living standards. 

Global Context

While specific countries are in localized depressions, the broader global economy is experiencing its slowest growth period since the pandemic, but not a universal depression. The International Monetary Fund and the World Bank identify escalating energy costs and geopolitical shocks as the primary drivers of this slowdown, which disproportionately impacts low-income and energy-importing developing nations. 

---

If you'd like to understand the macroeconomic conditions of a specific country, tell me which region or nation you are tracking. I can break down their latest growth forecasts and debt levels.

• Great Depression - Wikipedia

  The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unempl...

  

  

  Wikipedia
• Great Depression | Definition, History, Dates, Causes, Effects, & Facts

  May 20, 2026 — Maintaining the international gold standard, in essence, required a massive monetary contraction throughout the world to match the...

  

  

  Britannica
• The top 10 crises the world can't ignore in 2026 | The IRC

  Dec 16, 2025 — What risks will South Sudan face in 2026? * Risk of civil war grows: South Sudan could slip back into civil war, following a failu...

  

  

  International Rescue Committee

Show all

What Will the World Look Like After the 2030s Great ...

ITR Economics

https://blog.itreconomics.com › blog › what-will-world-l...

Jan 17, 2023 — Some other nations – such as Russia, Japan, and China – may not be so lucky, as they are all 2030s Great Depression