Another Depression or a Back to the Basics Economy

I won't pretend to have lived during the depression and quite frankly I'm thankful I didn't. From what I've heard about that time in history we have a long long way to go before we will even be close to a depression. First off housing was much more scarce and the unemployment rate was higher. There was a shortage of food and no kids had $200 cell phones or $80 shoes. Which brings me to the fact that some kids actually went to school with out shoes! Yes, my family has tightened their budget and we have to work hard for our money, But there is nothing wrong with that. The United States was built on hard work! I believe the over use of the term "depression" has caused a hysteria in the real estate market when really we should all just be spending our money wisely.