Is there a recession? now in america?

Question

15 years ago i made 5;10 an hour had my own apartment, and financed a used truck. This is impossible now. Rent has doubled, energy costs have doubled, food had doubled and the kids are making 6 bucks an hour.

The poor are struggling more than i have ever seen in my adult lifetime? Small local business have died and nice new corporate stores have taken over paying people minimal with minimal benefits. am i alone in this perception

i was 18 i am 33 now

Answer 1

One of the easiest ways to see if our dollar is in trouble is to first check it against foreign currencies then see if the prices of gold and silver are rising.

Currently our dollar is at an all time low versus other currencies. Gold almost broke it's records a couple of months ago and is back on the rise thanks to the new interest rate cut.

My friend, a recession is a summer picnic compared to where this country's economy is headed.

Answer 2

"Recession" has a very specific meaning: A decline in GDP for two consecutive quarters, and that has not happened. The Federal Reserve thinks there is a significant chance that a recession will occur in the next year or so and is doing what it can to avoid that contingency: lowering interest rates and increasing the money supply.

Unfortunately, these things the fed does to avoid recession can also cause inflation, which is another source of human misery. It's not too far off to say that the fed's job right now is to balance risk of recession against the risk of inflation and try to avoid too much of both.

Answer 3

As of right now, no there isn't a recession. Although, one may be on the horizon to some. The fed cut the rates again in hopes of holding off the luggish economy and boosting it up. With the housing market still taking a hit and the mortgage industry continuing to slow, it's making many investors more cautious in what to do with their money.

Answer 4

Times aren't easy and the problem is complex. Minimum wage hasn't come close to keeping up with the cost of living. The average wage is down while prices are up. However, this is typical of a republican driven government which caters to the wealthy. Recession is a broad term that applies to government statistics which don't reflect how the average citizen is living. Next election keep all this in mind and vote.

Answer 5

What of the principal of equality and equal opportunity for all in this the 21st century? This much cherished ideal found in the country's founding documents is made into a mockery as permanent prosperity for the rich is enshrined through congressional legislation, i.e., tax cuts, inheritance tax elimination, bankruptcy laws, so-called energy policy, and the legal recognition of corporations as being de facto persons. The workers, meanwhile, are subjugated by minimum and low paying service sector employment with decreased rights and benefits, often without health insurance. Post-modern capitalism has turned life in the United States into neo-feudalism with the token figurehead noble, the president, serving the corporate masters of war. The monarchy may not look like traditional kings, yet it exists within the community of billionaire and multi-millionaire power brokers that make foreign and domestic policy decisions. The chains of 16th century feudalism have morphed into a 21st century version where slaves without chains hustle to make ends meet as the nobility dines on the world's carved up resources.

Answer 6

What you are talking about is not a recession. a recession is 6 months of shrinking economy. That hasn't happened. The economy has continued to grow. My opinion is that the job market is very competitive. You must further your education to get good paying jobs. You also need ambition. the truth is that many people are successful and getting rich.

Answer 7

No you are not along.I also have noticed how things such as Gorceries have sky rocketed .I personally cannot understand how a young couple making minimum wages can even pay rent anymore.I sure feel for them.

Answer 8

I'm sitting across the pond and it looks to me as if you lot are heading for a recession. Especially in light of the recent collapse in the housing market.

Answer 9

No, there is not a recession. There has been inflation, and various items have seen higher-than-inflation rises in costs for a variety of reasons (e.g. lawsuits, political special interest groups, illegal immigration, growth of government, etc.)

The poor have always struggled, less in the US than most countries, and as a percentage of total population less than any time in our history.

As for big corps swallowing up small businesses, it is part of the cycle of life for business.

Answer 10

Uemployment is 4.7%. It will need to get a great deal higher to trigger a recession.