OK, this is getting a little out of hand. Like bad financial news has a habit of doing, this crisis is being blown into way more than it actually is. So just to put in my (informed) 2 cents...There is not going to be another Great Depression
Lets look at the major factors that caused the Great Depression in the first place...
1. Stock Market Crash of 1929: Newsflash folks, the stock market hasn't crashed. The news isn't going to get much worse than it is right now and the stock market, at worst, dipped (and the truth is it has recovered from all the previous dips making the end result almost nil thus far).
Bottom Line: Not happening so far.
2. Bank Failures: Guess What, this isn't happening either. At least, not in the same way. When banks failed in the 30s that meant your money disappeared with them. That can't happen now. We have things like FDIC insurance to prevent it. Beyond that fact, it's important to remember that the largest banks (BofA, Wells Fargo, etc...) aren't close to going out of business. In fact, they're doing well enough to buy out the banks that are failing.
Bottom Line: Not happening so far
3. The Gold Standard: This is a vast over simplification, I'll admit it, but that said it's still true that the U.S. Government can essentially print more money in a crisis. They couldn't do that in the 30s. In the 30s we were tied to the Gold Standard which meant the government was tied to a fixed amount of currency to work with. The Gold Standard has since been abandon by every single modern Government for just that reason.
Bottom Line: Not happening anymore, EVER!
4. Inflation caused by an Economic Boom: Keep in mind the 20s was a time of an economic boom which meant prices were at an all time high. When everything crashed the prices didn't automatically snap to fit which meant an economic disaster. We haven't been in an economic boom for over a decade at this point and were in fact already seeing the beginnings of a recession when this economic crisis came to the forefront.
Bottom Line: Not happening.
5. Massive Wage Decline: They didn't even have a minimum wage in the 30s (it was introduced in 1938 as a response to the depression). That meant that wages could decline to almost nothing. So businesses in a crunch drove wages down to essentially nothing which completely eliminated 90% of spending and sent the economy into a tailspin. That can't happen now.
Bottom Line: Not happening
6. Europe in Chaos: People forget that Europe was ravaged by World War I which left it economically unstable. That in turn deprived the U.S. of it's primary trading partner while at the same time causing European countries to default on loans given to them by U.S. banks. Not only is Europe not in economic chaos right now but the U.S. has tons more trading partners (China, Japan, etc...)
Bottom Line: Not happening.
7. The Drought of the 1930s: In the 30s there was a combination of dust storms and drought (commonly referred to as the "Dust Bowl") which put tons of farms out of business. At a time when the U.S. Economy was largely driven by farming this had disasterous results on the economy. It closed down farms, drove more people into poverty and made food a scare resource to boot. But now we have technology to prevent such an event from having a dramatic effect on our farms and even if it did we massively over produce food and subsidize farms so it wouldn't drive anyone out of business. On top of all that it also needs to be mentioned that farming is not what drives the American economy anymore either.
Bottom Line: Not happening.
So you can see this is a completely different situation and it's far from the severity of the Great Depression. I don't doubt we're headed for a recession but that's economic reality. Recessions happen. But recessions are only made worse by people over reacting to them. When you have supposed "experts" claiming this minor dip invalidates American Economic Policy for the last 25 years you know everyone has lost their heads.