Please answer with:
Yes-eventually or
Yes-very soon or
No-never
and include whether you consider yourself a democrat, republican, or other
-The euro, worth 83 cents in the early George W. Bush years, is at $1.45.
-The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.
-Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.
excellent article by Pat Buchanan on the subject:
http://news.yahoo.com/s/uc/20071102/cm_uc_crpbux/op_334275;_ylt=AmaOwBrIKXI73vrVM9CIsdQDW7oF
2007-11-05 02:09:50 · 14 answers · asked by ExDopefiend 2 in Politics & Government ➔ Politics
Not the "time to clip coupons" type of recession.
More like the "time to stock up on can foods and ammo" kind of recession
2007-11-05 02:13:29 · update #1
For far too long the whole of the western world has lived on credit. The problem with credit is that one day the bills will have to be paid. That day seems to have arrived, and with China now running most of the third world trade, and to a lesser degree the western trade, there seems to be no way out except western world recession!!
Conclusion:- We are there..it will only get worse.
2007-11-05 02:25:05 · answer #1 · answered by Terry M 5 · 1⤊ 0⤋
None of what you cite has any effect on the US economy. We have the best economy in the world. It will only get better. We might have a recession some day. They usually occur when democrats take over the White House.
I am a registered Democrat who is conservative.
About 25 years ago, gold was at $845 per ounce. To account just for inflation over that time, the price of gold should be about $2,400 per ounce.
When the US dollar loses value, it helps exporters in the US. People who have discretionary income, from the US, are better off spending their money in the US.
The price of oil is up because of basic economics. The demand is growing faster than supply. Speculators are bidding up the price because of it.
2007-11-05 10:19:05 · answer #2 · answered by regerugged 7 · 0⤊ 0⤋
No to a horrible recession. It is very unlikely that we will ever repeat the circumstances of the Great Depression.
Yes to a small one within the next couple of years. We will most likely have an adjustment in median household income. I think it will decrease. I also think that the average American's debt will increase, and that will have the most negative effect on consumer spending.
I am a Democrat.
2007-11-05 10:30:35 · answer #3 · answered by Lisa M 5 · 0⤊ 0⤋
First, I am neither Republican or Democrat, but I am very Liberal.
Secondly, It depends completely on the Federal Reserve. They create every depression if it suits their purpose, and they create every inflation when it suits their purpose, and they create every recession when it suits their purpose. They even control the interest rates making them go either up or down, as it suits their agenda. But, I think it is very likely because many of the signs are there, that our economy could totally crash soon. This also depends on what the people behind the Federal Reserve (the owners of the Fed) want to have happen, because whatever they want to happen is exactly will happen. *sm*
2007-11-05 11:57:17 · answer #4 · answered by LadyZania 7 · 0⤊ 0⤋
Yes
It all depend on which side of a coin that you flip, heads its a reccession, tails its a reccession, either way you can't win, even the aussie $ is starting to hurt at last quote its around .92.12 and climbing up all the time , would not be surprised if it tops the $US and may go above it, with all the politician all talk no action
2007-11-05 10:22:23 · answer #5 · answered by the.texican 3 · 1⤊ 0⤋
yes there is a recession coming. Right now both polital parties are doing what they can to keep it from coming until after the elections, because no politician likes a recession when s/he is up for re-election.
2007-11-05 10:17:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes, if a democrat is voted into office. They will increase taxes to pay for everyone's health care and to increase our presence in the middle east. The increase in taxes will slow spending and businesses will be forced to charge more for their products. People will be making less money because of the taxes and, well, I guess that would be your recession.
I hope that you found this to be enlightening.
2007-11-05 10:21:26 · answer #7 · answered by Marlin Perkins 2 · 1⤊ 1⤋
well its like the feds putting there finger in the dam -as the water starts to come out from all over !
2007-11-05 10:15:46 · answer #8 · answered by seawolf 5 · 0⤊ 0⤋
Yes, soon the Mexican peso will be worth more than the US dollar.
2007-11-05 10:13:44 · answer #9 · answered by Anonymous · 3⤊ 0⤋
Yes, I actually do think there will be a recession soon.
2007-11-05 10:15:08 · answer #10 · answered by Anonymous · 1⤊ 0⤋