The subprime meltdown has finally spread to the overall economy and the country is falling into recession. Why is no one concerned?
2007-09-14 09:04:20 · 25 answers · asked by Perplexed Bob 5 in Politics & Government ➔ Politics
It seems that only the right isn't concerned. Myself, I am very concerned. Sure the unemployment rate is down, but that number is only based on the figures of who still collects unemployment. The jobless rate is extremely high. Not to mention the hundreds of thousands of people who be out of homes they bought with in the next 9 months.
2007-09-14 09:30:05 · answer #1 · answered by rnh1921 1 · 5⤊ 1⤋
That is a very valid concern you issue!
Here is my humble opinion:
1. Most people believe, they got it as good as can be. Because they don't know any better, see the middle ages, where the people where like cattle to the king and the pope, but believed, that was the way to be.
2. Pure inertia of the masses. 300 Million people are very slow to change their views, see Iraq. It took them 4 years.
3. The Government, the banks, the lenders, the real estate industry are all reporting through rosy glasses, part in the hope, the recession will be light, part in the hope, its inborn for this people to make thinks look all glittery and sparkly.
4. Economy is not sexy news, War, Murder, Hollywood and Hurricanes are sexy.
2007-09-14 09:28:34 · answer #2 · answered by Anonymous · 5⤊ 1⤋
Well, we survived the telecom and the tech bubble bursting. Everyone by now should know that a government controlled economy is the pits. They always lie about the economic picture so we won't protest what globalization is doing to this country.
2007-09-14 09:11:42 · answer #3 · answered by Anonymous · 5⤊ 0⤋
There seems to be a number of people who can read economic data. The economy stalled in May and started a free fall in August. There'll be rocky times ahead.
2007-09-14 09:24:53 · answer #4 · answered by Overt Operative 6 · 5⤊ 1⤋
From where I stand, the only area hurting is the real estate market. And in that area, people made some really major league stupid decisions -- buying investment homes with nothing on which to fall back. Making such large purchases without reading and fully understanding the agreement (one woman on ABC News was complaining the other night that her 0% interest rate had jumped to 20% after the five year limited she'd agreed upon had expired) is just plain dumb.
As for me, with the exception of my mortgage, I will be debt free next year!!!
2007-09-14 09:23:34 · answer #5 · answered by Doc 7 · 2⤊ 3⤋
Bernanke and his friends will infuse the economy with more cash to stabilize the downfall. That will cure it. Right ? Right ?
Sure, de-value the dollar further by increasing the amount in circulation.Believe it or not, there's a reason why the Founding Fathers were opposed to a central bank.
:-(
2007-09-14 09:19:15 · answer #6 · answered by Anonymous · 5⤊ 1⤋
Because we're not in a recession. If we were in a recession, then the economy would be talked about. There are plenty of jobs out there that pay $8.00 an hour. And the good paying jobs didn't get outsourced. And your parents who have worked really hard their whole lives are supposed to fork over $30,000 so that you didn't have to go into debt for college. And people shouldn't have gotten sub-prime mortgages because they're stupid. And the "surge" is successful. And our budget can handle a 9 trillion dollar debt. Didn't you know all of that?
2007-09-14 09:16:33 · answer #7 · answered by Lisa M 5 · 2⤊ 4⤋
The economy is still in pretty good shape. Unemployment at historic lows. Home ownership up. More minority businesses than ever before....lots of good news. Yeah the sub-prime mess will take some doing to straighten out but I don't think it's going to be bad enough to tip us into recession. Come on, look at the bright side! Go out and crank up that SUV, take the wife out to dinner and CONSUME! Keep the engine of Democracy firing on all cylinders!
2007-09-14 09:10:23 · answer #8 · answered by Anonymous · 3⤊ 3⤋
I know some people who were let go just recently that will tell you the economy isn't going "great".
2007-09-14 09:56:32 · answer #9 · answered by cjgt2 6 · 1⤊ 0⤋
There is nothing much that average people can do about it. We all just keep going to work, and the sun never fails to rise every morning.
2007-09-14 09:11:16 · answer #10 · answered by Anonymous · 4⤊ 1⤋