i remember it well.....sky rocketing gas bills, spilled over into dairy and meat industries, then before you knew it everything was real expensive, and then the layoffs hit..........
now that the housing market is toast,......we are set to relive this when we have to pay for the iraq war
2007-09-07 12:14:18 · 10 answers · asked by Anonymous in Politics & Government ➔ Politics
I remember it well too...the gas lines, lordy! Well, I sincerely hope we don't relive it, but it looks like it's already heading that direction. I work in a field related to the housing industry (I sell flooring) and my job is practically in the cr*pper. No one is buying what I sell, because there are so many foreclosures. Everyone is hunkering down, not moving house, not spending on home improvement like they did just 2 years ago. Our company has laid off many workers. I wonder when my head will be on the chopping block. Ugh.
2007-09-07 12:29:14 · answer #1 · answered by caterpillar girl 3 · 0⤊ 0⤋
Recession is an easy term, try depression, it has a better sounding ring to it.
The USA is bankrupt, it has no gold reserves left, squandered away with no controls to monitor those reserves. Just ask to see the Reserves gold stock pile!!
Keep pouring money into the war machine, it will help feed your kids in the days to come.
2007-09-07 12:29:17 · answer #2 · answered by spike 2 · 0⤊ 0⤋
While the infamous bout of 'stag-flation' or 'economic malaise' in the Carter years did follow vietnam, it came some years after the American withdrawl, and was not particularly related to it. OPEC and decades of Keynesian government policies are what led to it.
2007-09-07 12:18:55 · answer #3 · answered by B.Kevorkian 7 · 1⤊ 0⤋
I hope the bubble pops soon so we can receed and recoup from it. No sense in post poning the inevitable.
No telling how hard it'll hit our economy. We cut more taxes hopefully it'll spur the economy again to help ease the burden of the recession.
2007-09-07 12:17:17 · answer #4 · answered by Glen B 6 · 0⤊ 1⤋
No, the recession in the late seventies was caused by the Federal Reserve trying to ring out inflation caused by previous FED's loose money supply.
2007-09-07 12:17:47 · answer #5 · answered by Anonymous · 0⤊ 2⤋
It has already started. Let's hope the Fed Reserve knows history and acts to prevent it. (HA HA HA HA did I just say that?)
(angelw4faces, the sub prime mortgages created an artificial loose money supply)
2007-09-07 12:17:55 · answer #6 · answered by mymadsky 6 · 1⤊ 1⤋
Yeah what was that five years after? Face it the democrats screwed the pooch.
2007-09-07 12:39:50 · answer #7 · answered by Locutus1of1 5 · 0⤊ 0⤋
Sure if like then we vote in a Democrat as President.
2007-09-07 12:26:41 · answer #8 · answered by Mother 6 · 0⤊ 0⤋
I doubt it will be a bad as that, but we are looking at a recession of some type.
2007-09-07 12:23:55 · answer #9 · answered by arvis3 4 · 0⤊ 0⤋
YES!! THEN WHEN HILLARY IS ELECTED 44TH PRESIDENT, THE NEOCONS WILL BLAME HER FOR IT.
2007-09-07 12:38:45 · answer #10 · answered by Anonymous · 0⤊ 0⤋