Is a modern depression on our doorstep?
2007-11-05 04:06:06 · 12 answers · asked by 3rd parties for REAL CHANGE 5 in News & Events ➔ Current Events
This is the result of years of whiners and criers complaining about the damage we are doing by taking oil out of the ground here. So the oil companies moved over seas and now we are complaining because they are holding us hostage to the cost of crude. We are going to have the most environmental perfect country in the world while we starve to death because it cost too much to get the food to the table. Not a depression just a lack of good common sense.
2007-11-05 04:19:59 · answer #1 · answered by Ken R 3 · 1⤊ 0⤋
There are many more indicators that are not dire to say we are in/headed for a recession. A mild recession may be "necessary" to deal with the fallout of the mortgage banking crisis, but a weak dollar means that the US is exporting more products than ever.
The markets are correcting, not faltering. The Dow is over 13,000! That is phenomenal if you think about it. Even a 5% drop, which would trigger a recession probably, would not be all that bad...corrections are necessary to keep the markets healthy.
The $100 a barrel for oil is the biggest negative as it affects ALL trade and commerce globally. It's worse for us since we have to buy in our dollars, and other countries buy in dollars that are cheaper for them to hold due to their strong currencies (except Japan).
I say mild to moderate recession, not depression.
2007-11-05 07:38:13 · answer #2 · answered by Anna P 7 · 0⤊ 0⤋
No, a depression is something way more serious. Some economists think there might be a recession and some don't. Even if there was a recession, it's part of the normal cycles of the economy.
Also normal inflation constantly makes the dollar worth less so every year usually brings upon an "all low". Unless you're talking an all time low compared to another currency.
2007-11-05 04:17:53 · answer #3 · answered by Moo 5 · 0⤊ 0⤋
Its awesome for me, I borrowed 15 grand to go to university years ago when the dollar was high compared to foreign currency but now I work in europe and that 15 K is actually way less. Going back home is way cheaper too. Oh how sweet life is!!! I'll try to pay off what I have left this year. Keep dropping dollar!
2007-11-05 04:21:45 · answer #4 · answered by Hans B 5 · 0⤊ 0⤋
Depression? What depression?
The US and other stock markets reached all time highs last month. Only the banks are in trouble because of the greed of mortgage brokers. But as usual their top men will be allowed to retire with $billions, reward for failure.
The $ is in trouble because of the incredible spending of US presidents practice, in order to rule the world. It makes them feel ever so big!
But those with their money in oil, Bush and his Arab friends in Saudi Arabia are doing all right, thank you.
2007-11-05 04:35:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The falling dollar is actually a positive aspect for American companies, as demand for their products relative for foreign products should increase.
2007-11-05 04:14:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Not for anyone who's making money off oil.
2007-11-05 04:13:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋
we live in interesting times, don't we.
2007-11-05 13:23:08 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Sure looks that way!
2007-11-05 04:10:26 · answer #9 · answered by AKA FrogButt 7 · 1⤊ 0⤋
what is your opinion on this.. mine is yes and it will last yrs to come..
2007-11-05 14:47:07 · answer #10 · answered by Anonymous · 0⤊ 0⤋