Paul Volker wrote that we are going to have a deep, deep depression starting in the middle of 2008. Do you think the economy is much worse that what the media would lead you to believe? If so why? If not why?
2006-12-22 14:56:46 · 7 answers · asked by ARE BEE 2 in Social Science ➔ Economics
The answer is that no one (including senile Paul Volker) has any way of knowing what the economy will do a year and a half out. But while a cyclical recession is always randomly possible a "deep depression" is quite unlikely -- hard to even imagine any circumstance that would cause that.
But the idea that the media is overhyping the economy is ludicrous. Quite the opposite, the media looks for every opportunity to engage in scare-mongering. However, only an ignoramus pays attention to what the media says about the economy anyway.
Journalists do not understand economic issues. But there are armies of government statisticians and independent entities that report economic information, and people who follow economics get their information straight from the various sources. It is there for the taking on the internet, you need not worry that the press is hoodwinking you.
2006-12-22 17:50:11 · answer #1 · answered by KevinStud99 6 · 1⤊ 0⤋
The consipracy theorists will always look for a rise in inflation or the trade defiect to say, "The economy in America will tank?" Economic may slow in 2007 and 2008, but growing in the range of 2% to 2.5% a year for America is not bad at all. I doubt thier will be depression, but growth rates could clock under 3% in the Untied States possible for the next couple years. No depression becuase that require buying stock on margin, and nasty trade war neither will happen because no economy wants to suffer a economic shock of that sort
2006-12-23 01:57:54 · answer #2 · answered by ram456456 5 · 0⤊ 0⤋
and just what do you think I have been saying here ? I have been saying this for a long time now and know that what is coming will make the great depression look like candy hope you are not to attached to all the comforts because we will be at the tech level of the early 19th century at best when we bottom out what the people buying politicians don't realize here is just how little that money will be worth !
2006-12-22 23:04:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The media is usually closely associated with larger corporations. They may have ulterior motives for not telling consumers just how bad it is or might be in the future. I cannot see it getting better any time soon. "Going to hell" may be a bit extreme...but I always plan for the worse and hope for the best.
2006-12-22 23:05:01 · answer #4 · answered by DinahLynne 6 · 0⤊ 2⤋
everything will go to hell by 2012
2006-12-22 22:58:26 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Yes it will, bc of the PS3
2006-12-22 23:04:41 · answer #6 · answered by damn_y0 3 · 0⤊ 0⤋
it's got to slow down some time.
2006-12-22 22:58:34 · answer #7 · answered by HectorHype H 1 · 0⤊ 1⤋