The economy is in trouble

[avatar4321]

As much as I hate to admit it, TM is right that the Dow is probably going to drop like crazy tommorrow.

But I am creating a separate thread on what do you think is going to happen with the economy. Are we heading for a recession or even a depression? Can we sustain our financial economy?

Another interesting question, if the economy tanks, does Ron Paul look more and more appealing?

[NATO AIR]

As much as I hate to admit it, TM is right that the Dow is probably going to drop like crazy tommorrow.

But I am creating a separate thread on what do you think is going to happen with the economy. Are we heading for a recession or even a depression? Can we sustain our financial economy?

Another interesting question, if the economy tanks, does Ron Paul look more and more appealing?

No. I don't think he does. I do think the budget is going to be taken seriously from now on though, for both parties. That's good for the country.

Likely a recession. The banks screwed up badly with the subprime deal and too much of the economy is tied up with that mess. There's far too much easy money globally and that will not only hurt us but will hurt the speculators globally who haven't been paying attention to the risk factors like they should.

Jobs & skills training programs are going to get a boost from Romney & McCain, especially as a lot of people worry about losing their jobs. That's good for the country as well, our workers need that to help sustain our economic health and success in the future.

Have you read the James Fallows piece in the Atlantic about the 1.4 trillion of dollars the Chinese have and what that means for both countries? Fascinating stuff that leads to a lot of really good policy questions across the board.

[truthmatters]

It is going to be painful. The largest asset most Americans will ever own in their lives is their home. That is in real trouble. Many people are going to be hurt for years by this type of financial situation.

[Classact]

It is going to be painful. The largest asset most Americans will ever own in their lives is their home. That is in real trouble. Many people are going to be hurt for years by this type of financial situation.If you have stocks just hold them and maybe buy on the dip? The market loves to see investors scared selling at the bottom and the experienced investors will time the market and turn it around.

America isn't in a recession!

If oil prices fall, and I think they should fall to around $50-60 a barrel our economy will bounce back. I'll guarantee there will be advertisements on TV for advance fed recovery checks once congress agrees on an amount just like they do with income tax returns... the money will be in the economy but to make it work oil has to drop like a lead balloon. Bush could make that happen by releasing oil from the Strategic Petroleum Reserve.

[manu1959]

does anyone remember:

the s+l crisis

enron

sept 11

black monday I

black monday II

the run on the london banks a year or so ago

the meltdown of the yen

the world survived

anyway if the market starts to tank they will stop tradding just like they did on sept 11.....

it is just legalized gambling....not sure why everyone is freaking out.....

[avatar4321]

It is going to be painful. The largest asset most Americans will ever own in their lives is their home. That is in real trouble. Many people are going to be hurt for years by this type of financial situation.

The largest asset most Americans have is their brain and their willingness to work.

[avatar4321]

does anyone remember:

the s+l crisis

enron

sept 11

black monday I

black monday II

the run on the london banks a year or so ago

the meltdown of the yen

the world survived

anyway if the market starts to tank they will stop tradding just like they did on sept 11.....

it is just legalized gambling....not sure why everyone is freaking out.....

i think there is a bigger problem here that isnt being addressed because of the overspending in government and the sheer amounts of debt people take out. history can repeat itself. We've had a depression before, we can have it again.

[NATO AIR]

The largest asset most Americans have is their brain and their willingness to work.

Indeed, which is why sending people back to school (who've been laid off or outsourced) is key. I love what NC has done with many of its textile workers... if they were willing to work hard and study, they could get a new, even better-paying career in the biotech industry (among others). Now many of the bio-tech employees in the state are ex-textile workers... the talent of the American worker in play....