2007-12-12 08:54:19 · 3 answers · asked by IS 1 in Social Science ➔ Economics
Not bad...yet. The credit crisis is doing the most damage. Top that off with the war in Iraq and we may some serious trouble. To battle the credit crisis, the Feds just cut the interest rate by a quarter point and plans to pump more money into the economy. The short term effect will increase inflation but if there is a good turn around in the economy it might balance out.
2007-12-12 09:06:50 · answer #1 · answered by physical 4 · 0⤊ 0⤋
Greenspan's book "Age of Turbulence" indicates worries over upcoming inflation. Since the economy moves in cycles; 30-60-100 year cycles ... well, we're paralleling the 30 year cycle (1977) where we suffer stag-flation and the 100 year cycle (1907) were we were on the tipping point of a major economic switch (industrial revolution).
Both cyclical periods have great benefits, and wounds to us.
2007-12-12 09:06:43 · answer #2 · answered by Giggly Giraffe 7 · 0⤊ 0⤋
dire
2007-12-12 08:57:23 · answer #3 · answered by Felix Arcanus 5 · 0⤊ 0⤋