Some of the leading Economist in the country believe we are heading towards a recession due to the high gasoline prices, the Housing Market burst, the falling stock market and a number of other economic indicators. Even the Federal Reserve Chairman admits that we are having a economic slow down and the 4th quarter. This is usually the first sign of a recession.
2007-11-08 11:38:35 · 17 answers · asked by Anonymous in Politics & Government ➔ Politics
Many economists believe that we are in a recession RIGHT NOW. Typically recessions are not identified until after they are over. That goes double for the present because I think that the Bush administration has been less than honest about some of the economic numbers. Well into the next administration we may discover that we were in a horrific downturn in 2007...
2007-11-08 11:42:29 · answer #1 · answered by Anonymous · 6⤊ 2⤋
Some say we are in one now, others say we are doing great. Personally, I say look at the price of oil. I have to agree with the other answers indicating a recession isn't really "known" until it is over, however speculation continues none-the-less. With that said though, I must point out the fact...I don't think it is one party or the other which causes such things in their totality. Every aspect has to be taken into consideration, jobs, jobs overseas, oil prices, taxes, housing market, etc. With that said, data can be skewed either way depending on which side of the fence one falls...know that regardless of which news channel you watch...you are getting some of the truth but not all of it. Want to better understand the economics of it, take a few classes and/or read a few books. KNOWLEDGE IS POWER
edited: to the person above me talking about renting over mortgage...just a piece of advice: if you really are in such good financial standing, i would suggest buying a home and paying it off early so you don't have to pay all the interest on the mortgage...regardless of temporary trends, land and housing has only gone up in this country--prime investment :) and then you are investing in your own future as you admit to already be doing, vice paying a rentor every month for the rest of your life. once your home is paid for, maintaining it will be less than what your monthly rent is, for sure!
2007-11-08 11:51:04 · answer #2 · answered by Christine M 3 · 2⤊ 2⤋
The definition of a recession is a two quarter of no growth in the GDP. Even after 9/11 we did not have a recession, however during the last months of Clinton's term we did have a recession.
Weather or not we do not have a recession one thing is for certain, there will be a slowdown. However with the weakened dollar more foreign countries have starting to buy more American products.
2007-11-08 11:49:22 · answer #3 · answered by Anonymous · 2⤊ 3⤋
A recession is already here and economic indicators predict that it could grow worse. The media and government are presenting the worsening economy as a slight problem when the country could shut down next year if something isn't done about oil prices and other threats to the economic structure of the US.
Why isn't anyone holding the Bush administration accountable?
2007-11-08 11:49:22 · answer #4 · answered by Anonymous · 3⤊ 3⤋
Certainly. The amazing thing is that we aren't alrady /in/ one, and that inflation isn't higher. Really the stage is set for an economic nightmare like the Carter years. Ironically, one thing that's saving us from that in the short term is the artificial pegging of the Yuan to the dollar, which is keeping Chinese imports cheap, and thus holding down inflation. Of course, the economic (and other) consequences of that will be disasterous, as well, a little furtherdown the line.
2007-11-08 11:42:33 · answer #5 · answered by B.Kevorkian 7 · 5⤊ 1⤋
yes, and the softest landing will be only if ron paul is elected and he is able to rid us of the IRS and the illegal federal reserve. a private bank lending us our own currency is criminal. we fought the revolutionary war over this very topic.
this never ending war on terror that is pushing our debt into oblivion, up to 9 trillion now, is what is convincing foreigners to dump the dollar which is causing the value of the dollar to drop like a rock.
Dr. Paul is the only one who understands this. he wants to end the empire we cannot maintain. bring home all of our troops. not just the ones in the middle east, but close the 800 military bases in over 130 countries we have them. its insanity. people say we are the richest country in the world. our policies have caused us to be the poorest truly by being the country with the largest debt. meanwhile the criminal federal reserve PRIVATELY owned bank is making trillions by pushing america down the toilet. one of the reasons JFK was killed was becaused he outlawed the federal reserve. after his assassination, Johnson's first official act as president on air force one in the air on the way back from dallas was to reinstate the federal reserve.
2007-11-08 11:47:24 · answer #6 · answered by ashleyrobinson 2 · 4⤊ 2⤋
it may not be that simple.
i think that our economy is so large that certain things will never impact some people.
i have no debt, not even on my new car and save aggressively for retirement.
i'm a terrible consumer and take credit card offers and put them directly into the shredder.
get out of debt and stop giving your hard earned money to the corporations.
also think long and hard before taking on large debt like buying a home.
i rent and because i don't have the huge debt over my head, i can live a life that appears to be far beyond my means.
i do this by only using money that is in my bank accounts.
pity our govt can't do something so simple...
2007-11-08 11:50:45 · answer #7 · answered by nostradamus02012 7 · 2⤊ 2⤋
The media, I've noticed, is pushing it real hard, so people
will stop spending and thus create a Recession. The media
seems to be antiAmerican anymore (always blaming US and
not the enemies) and they would like to see our downfall. They
have the airwaves every single evening on tv and big audiences to hear them, and mostly gullible people that even
believe t hem whether it's "we've lost the war", "global warming is going to get us", we're headed for a Recession",
"cops are the bad guys", "Republicans are liars, cheaters,
and plan bombings like the WTC". Can't you see how they
try and lead us into oblivion? Turn them off and get the good
news from Fox and Friends, Fox News that really is fair and
balanced unlike CNN, ABC, CBS, and NBC.
2007-11-08 11:49:32 · answer #8 · answered by Anonymous · 2⤊ 3⤋
Start stocking up on 39 cent Mac and cheese
2007-11-08 11:46:09 · answer #9 · answered by Anonymous · 3⤊ 1⤋
Some also believe that we are far from a recession and are set to huge growth. Analysts rarely agree on anything. I dont know what our economic future holds but I know business is doing well for me and the outlook for the next year is more than promising.
2007-11-08 11:41:42 · answer #10 · answered by Anonymous · 2⤊ 5⤋