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More than three in four Americans think the country is in a recession
Posted by bibitoribio • 3/18/08 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: business, depression, money, recession
USA TODAY/Gallup Poll over the weekend shows, reflecting a crisis of confidence that economists say could make the economy worse.As the Federal Reserve expanded credit to securities dealers and President Bush said his administration had taken “strong and decisive action,” the poll revealed pessimism about the economy’s direction.Seventy-six percent of those polled said the economy is in recession, The poll of 1,025 adults was completed Sunday... more about the story: youngnegotiators.com/index.php/2008/03/18/3-in-4-think-usa-is-in-a-recessio...
So.. here is the question what is the answer!!!!.. Are we in a recession or not, because i been reading about this for a few months now and some say no be not there yet or theres nothing to worry is good, or everything is under control not to worry. I think we should worry, but what do we have to be worry about exactly and what to do to prevent that it affect us ?
User Comments
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Um, in addition to totally ignoring the poster's thread topic, you've also spammed everybody and are trying to do link exchanges which aren't allowed here in the discussions.
Please read the first link at the top of the boards that says "Read This Before Posting" for guidelines.
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We are not in a recession. It takes six months of decline for that. We are in a serious downturn that could end up a recession, however, if business isn't taken care of (literally).-
Well, yeah, there's that technical definition that depends on two quarters' worth of shrinking statistics. There are also those pesky facts on the ground that people are experiencing.
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Thanks Thriftshopromantic..
Thanks for the comment ghostytwofish.. but do you think will should be preaper if we do get in a recession? -
Although technically speaking according to economic specialists we are not in a recession, many people who do not belong to the economic upper crust actually are.
In order for a recession to be considered a recession nationwide, it has to hit everyone, every business - unfortunately for those of us who do not belong to said upper class both individually and in business it does no good to only go by national, or federal standards of a recession definition. People and small businesses are already, and have been for some time, feeling the crunch of a collapsing economy.
Hence the disparity between a technical recession, and popular opinion about said recession.-
this is great comment thanks!
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We're not in a recession till a bunch of people start getting laid off. Oh wait... I AM getting laid off lol. -
Look media here is a shiny new subject to talk about...-
Sup Kevin hows the working for yourself thing going?
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eh I sold out and ended up working for a startup... I ended up moving to Boston
What you up to? -
Trying to figure out where to go from here. Finishing up an associates in a few weeks, but at the same time going to be laid off in a few weeks as well. So trying to see if I should put all my energy into a website for money, or just get another full time job. Dunno yet.
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You guys aren't in a recession yet. You're just experiencing a bumpy ride downwards. America will raise out of its ashes soon as a exporting country, not that the modal American will benefit much of it. They heyday of consumerism is almost over in the US. You'll have to scale-down and live more modestly. This will mean less Christmas gift, going less to the movies, going less out for dinner, buying smaller and less gas-guzzling cars, etc. It won't be too bad, but you just need to make the transition.-
I'm waiting for the US to become the next country for companies to outsource to, instead of from, because our labor will become cheaper.
Some companies have indirectly already done this, although not to any large extent. -
It's happening already. Many of our car producers here in Europe are thinking of setting-up shop with you guys and close factories or downsize them here. Even Airbus is moving to the US (officially to get the military contract, but mainly because it wants to produce cheaper planes).
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Well, on the brighter side of things, at least we'll have some jobs!
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On the bright side, we can visit the States and buy lots of things in cheap cheap dollars
I so want to shop-hop to NY. -
If only it was so cheap for us!
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People Need to start getting them self in a budget! if they do that and expense money wisely, it could be fine.. but we still have to wait and see what will happen eventually.
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Well, it's a little more complicated than that. One of the contributing factors to the largest recession in US history (AKA the Great Depression) was the wild misdistribution of wealth between the upper and lower clasess. When one group of people hold too much money, they can only spend so much to keep the economy afloat, while the poorer half doesn't have enough money to spend to keep the economy afloat either.
Fast forward to today, and you see the same glaring mistake - the top one percent holds the same amount of wealth if not more than the bottom 90 percent of citizens in the US. Top that off with predatory lending, predatory business practices towards other businesses (buying a business and intentionally bankrupting it), huge amounts of unresolvable debt and what you have is a recipe for disaster - no amount of personal budgeting is going to prevent that.
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We are in worse than a recession. Bear Sterns has folded, well, bought by JPMorganChase. Countrywide is gone. Many other banks are shaky. The Fed has cut the discount rate over the weekend and will probably cut it again this week. The housing market is completely flat. The stock market is teetering. The rich folks are getting richer. The rest of us are in for a nasty few years....or more. -
Well you lot are sensible then! -
Did you really think you could sustain an economy built on debt? When all the manufacturing went overseas wasn't that a hint?
You need to start building labour-intensive, high-technology, capital-unintensive manufacturing. Keep it in workers hands, and keep it community-centred.-
There you go making sense...
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Daniel, you are right.
Lucky for me I'm prepared and can even survive by hunting my own food for a very long time. Sorry city people, no room in my underground bunker for you!!
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Heyy.. what about this the Federal Reserve is expected to aggressively lower interest rates in its intensified battle against the credit crisis and spreading economic weakness. The question is whether all of the effort will turn the tide. The economy is not in a good cheap.
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Yes because what we all need here is more credit and debt.
Not.
Things will not turn around until we bring back our manufacturing jobs and strengthen the unions.
Period. -
That is exactly right!
Of course Chelle, you and I have talked about the wussification of the unions as of late - they aren't performing the way they need to.
Go back to a product driven economy, put an earning cap on large corporate CEO's and upper management people, take away corporation's status as "legal citizens" and make them be accountable for their actions again (again? were they ever?), and force them to be socially responsible - that would make a difference! -
Yes, and it coincides with the wussification of the American male, too.
I will be glad when that turns back around hehe.
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Kind of bizarre that the last technical recession ended November of 2001
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