Can you predict how long we will be in a recession?

Question

Can someone give me a good detailed answer for this question. And will gas prices ever go down ever again? Doesn't rising gas prices make other things more expensive like groceries?

Answer 1

Since we are not yet in a recession, that's rather difficult to answer. The earliest a recession could have started is April, and it takes two consecutive quarters of declining GDP to make one.

Answer 2

Technically, the United States is not yet in a recession (meaning the US should have had at least three quarters/nine months of negative economic growth). Maybe you should ask, "Can you predict how long the US economy will slow down?"

Yes, gas prices will go down if the following three points are met:

1. The geopolitical problems in the Middle East are solved. That basically means Iraq and Iran.

2. The demand for oil/gas goes down. That means people should be more green and scientists and government should introduce more green technology and mass produce it

3. Oil/gas supply will increase. That means, oil-exporting countries should put more effort and efficiency in delivering oil to the world market. There is recent news that the fast melting glaciers in the Arctic will bring potential oil fields to be exploited.

About the groceries and other goods, yes, it becomes more expensive because production and delivery of  products require using electricity (other electric sources come from gas) and gas. You have to transport raw materials from farms  to factories, and finished goods to groceries. These products travel a lot and consume so much gas. Factories and groceries use machineries and lights (and electrical equipment), hence, they consume electricity,

Answer 3

Um, hello.

We're not in a recession right now, if you are in fact living in America.

And today, gas prices in my town went down 20 cents.

Not saying that they won't go back up tomorrow.

Just live for today. It's okay to plan and be prepared for the future, but you shouldn't hope for the worst.

Answer 4

Um, we're not in a recession.  Our GDP growth hasn't been negative and even it is, it hasn't been two economic quarters with negative GDP. (Growth negative).   We are not in a textbook recession.

What we are in is a slow economy.  Unemployment has risen.  Though its not as high as it was in the Great Depression. Then, it was 25%. Its 5 point something today.  Housing is down and prices of it are down.  Gas prices are high and yes, oil prices affect food prices too because the food needs to be transported.  So yeah that makes food prices higher.  They've shot up- but also due to bad weather.

People fear. And people think we're going into a depression.  We're not.  We aren't in a recession, so we shouldn't start worrying about a depression unless there are clear indicators that there will be one.  Until then, hang tight and just do what you can.  The economy will rise again.  Its normal for an economy to go through bad times...it has good ones and bad ones. *thinks* and yes I know its bad, I don't DENY at all that problems right now are bad (and inflation is not so good..but its moderate-5% not high) and that people are hurting, but things will get better- how long I don't know, but the housing market will take months (months which is good cause some thought it would be years) to recover according to Secretary Paulson (US Treasury).

These are rough times.. (though gas prices could go down later thanks to oil decrease)and hard to go through. But we'll make it, the US has a strong economy and it will strengthen.