2007-10-24 13:39:02 · 9 answers · asked by Anonymous in Politics & Government ➔ Politics
I believe there will be a global depression in 2010 as U.S. banks fail, national economies collapse, and stock markets decline to record lows.
2007-10-24 13:57:30 · answer #1 · answered by -RKO- 7 · 1⤊ 1⤋
Not for 2008. Yes, the U.S. government borrows from other countries, but who is the biggest lender? Of course that would be the United States.
Currently, we have very high employment, our deficits are shrinking (due to the weaker dollar which is helping our exports sell overseas since they can use the weaker dollar to underprice the competition), tax revenues continue to soar, and business inventories remain low. The housing market is experiencing trouble, but the Treasury and the Federal Reserve are standing by to ease monetary and fiscal policy as needed. Inflation is currently tamed and is only growing moderately, well within the range the Fed wants it to grow.
For 2008, we should be fine. All that may change however when a new president takes office. The markets do not like uncertainties, and the election for 2008 will not be completed until November after next.
2007-10-24 20:51:03 · answer #2 · answered by Anonymous · 2⤊ 0⤋
NO.
But if we do China wins.
As usual, she barely needs to leave her soil
and will be the next Super Power.
Unless we vote responsibly.
Research your candidates, thoroughly.
As to Hillary Diane Rodham
you must look at her husband
one thing I recently learned is he left
the United States owing the UN millions
in back fees. Just simple things like that
don't make the papers. He bombed the
heck oout of Sudan, Afghanistan, Iraq...
way b4 Bush got there. Just Google them.
No, as long as we can continue to adapt to the
fluxuations with the mortgage mess and more
natural disasters... recession maybe, World Wide
will occur if you re-elect President Clinton.
2007-10-24 21:21:41 · answer #3 · answered by Mele Kai 6 · 0⤊ 0⤋
Possible , but it will not be from the national debt , it will be from the hundreds of thousands more who are expected to default on money they owe creditors , the U.S. consumer debt is over 2.5 trillion and over half are expected top default on the money they borrowed ...Credit will mean nothing , and it will happen quicker if Hillary gets the White House , her childrens bonds and healthcare will take an additional 40+% from peoples paycheck .....Yay go Hillary ...
As far as the first answer goes that said ""Our lending institutions because of their greed (variable rate loans, sub-prime loans, etc.)""" that is part true , however it is not the whole blame just on greedy lenders , part of it lies on the ignorant borrowers , and the just plain stupid ....many of those failed mortgages were on people who could not get a loan for nothing except a car title loan yet they actually thought they could afford a 150 thousand dollar house , come on , how stupid are people ????
2007-10-24 20:57:15 · answer #4 · answered by Insensitively Honest 5 · 1⤊ 0⤋
Recessions are a common part of the economy. Yes, we'll go through a bigger-than-normal one in I say about five years to a decade. It takes time for the economy to go down, even slightly. When it does, though, someone needs to pull it back up. And with the current situation, that'll most likely the oil-rich countries and not China because exports cost money that we won't have.
2007-10-24 20:54:26 · answer #5 · answered by David U 2 · 0⤊ 1⤋
America currently has a deficit of about 9 trillion Dollars.according to the USdebt clock
"The estimated population of the United States is 302,934,429
so each citizen's share of this debt is $29,751.64."
2007-10-24 21:06:14 · answer #6 · answered by keny 6 · 1⤊ 0⤋
Not like the Great Depression, no, but we are pretty clearly headed for a recession (they happen fairly often, and with some slight regularity, afterall), and recessions in the modern world tend to be global to a greater degree than in the past.
2007-10-24 20:50:37 · answer #7 · answered by B.Kevorkian 7 · 1⤊ 2⤋
The U.S. Government is borrowing world-wide, Europe, Japan, Saudi Arabia, etc. Our lending institutions because of their greed (variable rate loans, sub-prime loans, etc.) are facing economic problems, and since the U.S. is the largest player in the interdependent world economy, our problem are affecting others. I think it quite likely we'll be confronting at least a major world wide recession (if not depression) in the next 18 months.
2007-10-24 20:44:20 · answer #8 · answered by k_l_parrish 3 · 3⤊ 3⤋
RUN FOR YOUR LIFE!!! HILLARY IS COMING!!!
2007-10-24 20:53:00 · answer #9 · answered by Anonymous · 3⤊ 0⤋