Are we headed for an economical depression?

Question

With the cost of living and bankruptcy on a constant uprise, where do you think this nation is headed economically? What would be the most financially beneficial solution?

Answer 1

We have been in a downward spiral. It looks that the situation may improve, stocks have gained, when oil prices fell from $146.- a barrel to $124.- two days ago. Hope it continues.

Answer 2

Immediately the congress should lift the ban on off shore drilling. Immediate effects would be creating thousands of good jobs, and a boost to the economy from the sale of infrastructure materials and of course lower gas prices which hurt our economy.

Answer 3

The nose of the plane is pointed down.  Will it crash?

The best solution would have been to get the foxes out of the hen house before Nixon moved all the gold out of Fort Knox.

(3) At this point, if you don't have big bucks, precious metals or euros to play with; your best financial bet is a crash program in self sustained living and disaster survival.

This is not a joke.  This situation has been coming on like flaking paint for about 50 years and now is compounding like interest figured hourly.

Consider oil prices.  In the past two weeks up over $150 and then down with other futures.  Stocks are up and then down further.

.

*One news story says the cause is Middle East tensions.

*Warren Buffett says it is nothing but supply and demand.

*The President hits up the Saudi's for more production.

*The Saudi's say the problem is not supply and demand but speculation in trading and hedging.

*Many others say the problem is the ever weaking dollar.

*Another summary says low production, manufacturing sales and costs, general economic conditions and big problems with supply managment are at fault.

The latest story says oil is going down because people are afraid that high oil prices are going to ruin the economy.

So what does all this mean.  First, people are investing in products which come from the earth which is the only true source of real wealth.  Second, if we are to believe all these stories, they invested in the basics because they were afraid.  Now a story comes out telling us they are selling because they are afraid?  The President, along with Alfred E. Newman of Mad Magazine, says:  "What us worry?"

Bottom line.  Fear & nobody knows; even the people with power and money.  -- Back to paragraph (3).

Answer 4

It has already begun

Answer 5

I think we are heading that way.

Answer 6

yes...we are in a depression...=[

Answer 7

Yes

Answer 8

Drilling does not solve the problem. Alternatives solve the problem.  Just because we can lower the price A LITTLE for 10 or 20 years is not a reason to s***w over the environment.  Anyone who thinks so is not thinking economically or environmentally.  We have enough energy, they say, for 50 years.  People act as if 50 years is a long time.  It's not.  We should not damage the environment for a savings of 10 to 20 cents on gasoline.  50 years is a long time for a human but not for the environment which as been around for how long?  If humans are not smart enough to develop energy that last forever and causes no damage to the environment, then maybe humans aren't as smart as we think.