Do you think that the American Economy will ever recover?

Question

for the past 2 yrs I have been hearing frequent reports concerning the bad housing market, and every time I hear about how a lending company has failed or how the rate of foreclosures have increased substantially i lose the hope that we can recover. the other day watching Bush's press confidence I was pissed because he spoked as if nothing was happening when in fact we have experienced rapid inflation and high oil prices. when I heard about how many were rushing to Indy bank to save their savings it reminded me vividly of the Great Depression because that was how it all started, I was like please dont tell me me theres going to be a second generation econcomic Depression. Then when I read an article about how china will be the next world power by 2035 I lost total hope of a back to normal ecomomy. So do you think our economy will ever recover?

Answer 1

The economy is cyclical and in strict economic terms we haven't even entered a recession yet.  Yes, we will recover, whether we will remain the dominant economy in the world is another question altogether.  I would also note various social safety nets were created after the Great Depression making another depression extremely unlikely according to most reputable economists.  Again, I'm using the strict economic meaning of the word depression here, laypersons and media tend to throw it around wily-nily.

Answer 2

the economy will recover.

but it may change.

kind of like I imagine some of the things that are changing now due to the high price of gas will stay changed ( like the sales of hybrid cars will probably stay higher than they were before the price of gas went up)

Answer 3

Not until we legislate against greed.

Will that happen?

No. Greed is our religion.

Our economy will continue to decline, and the US will become a country in which 5% percent thrive and the rest of us live in dire poverty.

Doubt me? Give it another year and you'll see. Debtors prisons and work farms are being planned even now.