2007-10-22 02:51:39 · 4 answers · asked by Anonymous in Social Science ➔ Economics
Yep.
Great Depression pt. 2.
2007-10-22 06:08:37 · answer #1 · answered by ivy 3 · 1⤊ 1⤋
Define crash plz. If we are looking at 50 years or so in the future, when oil runs dry, its going to be ugly. As for next year everyone is saying its not going to be as good as this year, that doesnt mean a crash. People are speaking of catastrophy when the dow retraces back to 13.000 totally forgetting that it breached 12.000 early this year. The economy is going to suffer, SOME people will have less money to spend in America, but it aint like everyone is loosing their housing.
Fare much worse than it did in the past year, yes, but crash ? No at least not yet.
2007-10-22 09:58:42 · answer #2 · answered by Anonymous · 1⤊ 0⤋
We are probably in for a recession next year, and it will seem like a crash to people looking for their first job. Even with the rising oil prices we will probably do better than the 70;s over the next 10 years but not as well as the 90's
2007-10-22 13:19:06 · answer #3 · answered by meg 7 · 1⤊ 0⤋
my long term, no proof to back it up guess is that America will be just fine. we'll figure it out.
you have to understand rescission is a good thing. if not we'd keep on getting this ridiculous inflation (got to pay back debt too) lol... i suppose it isn't ridiculous yet. so, i don't see a crash. just a slow down, and not even that bad of a slow down. i think the most dramatic thing that will happen say on the 10 year scale is America's role in the world will change, like it's been doing...
2007-10-22 10:06:59 · answer #4 · answered by Proctor 2 · 1⤊ 0⤋