How severe is the Bush Recession going to be?

Question

Falling, sorry, collapsed dollar,
Falling, sorry crashed Dow,
Home Loans, Credit Crunch, Falling house prices, highest house repo.... than ever,

WHERE IS THIS ECONOMIC MIRACLE, CONS.....?

Answer 1

Certainly is a lot of denial going on in here.

I guess no one is worried about the four large banks that are having troubles due to their insane mortgage moves and their not easy to understand hedge funds that not even the people purchasing them no what they are exactly.

Just because Caterpillar is worried, doesn't mean you all should be silly enough to worry with them.

So what if Walmart is wondering why people aren't buying food and the convenience stores are seeing remarkable profits that they assume means people are not buying much so they are buying conveniently from them instead of larger stores.

Who, really cares if the heating costs are rising so much that the people who are making it for two days on their paychecks (use to be four days) are not gonna make it a day. They still should buy their own da..... medical insurance, right repubs?

Enjoy the worst is yet to come.

Answer 2

Yes, we are headed for an economic slowdown at least, and a recession at worst. Either way, I don't expect it to be particularly bad.

The falling dollar doesn't really hurt, and in fact it helps. It means we'll sell more American made goods and services here and abroad.

Dow crashing? Hardly. A 2.64% drop does not a crash make. Neither would a 2.64% gain constitute a boom.

Home loans, credit crunch, yes, that's where the drag on the economy will come from.

Oh, as for the economic miracle. How about very low unemployment rates, rising incomes, Dow and S&P Markets at near all time highs, highest tax revenues ever (even after Bush tax cuts). All have occurred since 2003, after the twin economic hits of the dot.com bubble bursting and then 9/11.

Answer 3

Even though Bush's tenure has been a disaster of unmitigated magnitude, the depth of which will not be truly known for quite some time, it's not all HIS fault.

Congress did not investigate Bush's WMD claim at all prior to Iraq effectively not wanting to know what was going on.

Congress also approve all the tax cuts.

But the BIG economic hits are going to start being felt in the next several years. Fossil fuel prices will continue to escalate. The demand will increase with the increasing world population and the continued industrialization of China and India plus the rebuilding of Russia's economy. While demand increases, supply will fall. In ten to twenty years oil-producing countries will stop selling and begin hoarding.

The US - being the largest per-person consumer of fossil fuels - will be throw into a panic. Plant-derived so-called 'bio-fuels' won't even put a ding in the demand. Additionally, intensive attempts to coax more plant matter to grow to be used as fuel will only result in the denuding of large stands of forests while over fertilization destroys the soil.

Our internal-combustion driven economy will come to a screeching halt.

Answer 4

They're won't be a recession. You're only choosing to look at a few aspects of the economy. The economy is judged by weighing the good against the bad and considering the net affect. 49 months of job growth. $1.5 trillion increase in worker salaries ($8000 per). Despite falling home sales, the construction market went up, a key economic indicator. Consumer confidence at all times high. Housing prices going down means it is a buyer's market. 4.6% unemployment, which is a full percentage point lower than the average of the 90s.

I could go on and on.

You offer no sources.

You're known for spinning.

I think this is BS.

DOW Jones Industrial Average.
http://money.cnn.com/data/markets/dow/

13,522.02 -366.94 / -2.64%

Oct 19 4:07pm ET †
Open: 13,888.47
High (day): 13,888.47
Low (day): 13,511.94

YTD%Change: 8.50%
(That means it's 8.5% higher than last year smart guy)

Volume: 332,353,841.00
Prev. Close: 13,888.96
52-Week Range (Low - High): 11,939.61 - 14,198.10

Answer 5

permit's purely bear in mind that Bush did not act on my own to create the financial disaster. He exchange into aided by making use of a heavily populated liberal-thinking congress which went out of its thank you to offer "Tax And Spend Democrat" new meaning. instead of transforming into solutions to issues by making use of re-directing latest monies they have been desperate to subterfuge tax-payers with their steadfast appeasement mentality and by making use of precious particular interests. It exchange into the extremely-liberal left-wing dems who led each and every financial sub committee in congress. so some distance as trillions of greenbacks spent on removing terrorist primitives of their own land (as against over right here) that's already doubled by making use of the beef expenditure equipment contrived by making use of the recent administration. interesting adequate to me is that the two democrats and republicans supported this degree to three degree.

Answer 6

Unless you buy $2,000 designer European suits then it should not matter to you. The dollar is worth the same in Asia, not Europe. In fact, the dollar is stronger to the Japanese Yen than it was a year ago.

A falling dollar is good for America. In the long term, it helps automakers and the businesses affiliated with making cars. It also helps hotels, restaurant employees, resorts, etc because more Europeans travel to America. It also helps manufacturing companies in the U.S..

It also decreases the national debt.

Why Do People Keep Thinking A Weak Dollar Is A Disaster?
http://answers.yahoo.com/question/index;_ylt=Ag35r0V.A61S._MJE8nqunMjzKIX;_ylv=3?qid=20070920193903AA1OcdY

"They don't know countries around the world purposely devalue their currencies to make their country economy better and to improve the country's standard of living.

Japan devalued their money (yen(¥)) for decades which resulted in Japan having a very large market share of the U.S. automarket.

Up until the mid 1980's, Japan's Yen was trading as low as 360 yen to one U.S. dollar (USD). (Today it is trading at over twice the value-115.) That allowed Japan's companies to sell products in the U.S. for half of their real costs. It was very difficult for American car makers to compete when Japan's auto makers were spending twice as much on making a car and were selling them in America for the same price as an American car.

Wishing for 300yen/USD, Japan still trys to keep the value of the yen low. It still closely watches the USD/Yen exchange rate extremely closely. They know a weak dollar will slow their GDP growth, decrease business profits, and cause Japanese to buy U.S. goods. "

Answer 7

I love how anything bad that happens to the economy is automatically Bush's fault, and he's still blamed for things not being as good as they could be. If Al Gore had been elected seven years ago or John Kerry (who served in Vietnam, by the way) three years ago, the economy would be pretty close to a complete disaster, but all we'd hear would be how magnificent life is.

Answer 8

I agree with CaesarLives. Let next President be a Republican to clean up Bush's mess. At best they are going to be a 1 termer, just like Bush 41 after 8 years of Reaganomics.

Answer 9

You're going to get a lot of denial answers. Since all the financial problems are hitting the lower middle income and below, most people don't think there is any financial problems in America.
I think, however, you better be ready to tighten your belt. We are headed for some really hard times ahead.

Answer 10

Most of what you state was far worse in the 1930's. But if you remember the great recession on the latter 70's brought on by Carter it will be as bad as that.