How many people think we are in a resession ?

Question

i believe we are , as a retailer , my taking are down over 25 % , what is the answer and what can the government do about it !

Answer 1

In.

Answer 2

Oh please! The western world has it better right here and now than any other collective society that has ever existed.  Sure we have lots of poverty, but we don't have "Hoovervilles" in every city full of teenagers, old men and children shining shoes, thieving and turning tricks and most of us can still put gas in our cars.  Just because people are finally spending their money more responsibly, doesn't mean we are going into a recession.

Answer 3

Definetly a resession

Answer 4

Yes of course. Do you think the government really cares?? They are the ones that started this whole mess to begin with. The rich keep getting richer, while to poor keeps getting poorer. I feel bad for seniors who can't even afford to pay for their medicine or anything else for that matter.

Answer 5

The UK economy is crumbling, bit by bit everyday. Inflation is above 3% and the Bank of England has left interest rates at 5%. Houses prices dropped 2% in June and the construction industry is going into freefall. Petrol prices are higher in Britain than anywhere else in the Western World and the Labour Government squandered the tax surplus. Recession is not the word! I imagine the U.S economy is feeling it too.

Answer 6

When people are buying Gold and not Shares, I think that that is a good indication.

People are buying Gold, and are selling Shares.

Our Prime Minister could stop shovelling ''Sound Bites'', and say something serious, that may give us the feeling that we actually have a leader; that would certainly help.

Answer 7

we are on the cusp of full blown reccession. people are cutting back and hoping things will blow over. the first signs are builders out of work and shops cutting prices. the government need to take the correct action at the right time to avert it, wether they do or not is another story.

Answer 8

A recession is 2 consecutive quarters of negative growth - which we have not had.  Having said that, between the oil/gas prices and the housing, financial and automotive  sector problems we might as well call it a recession.  It could easily spread into an overall economic contraction.  

The government needs to do more on making progress in drilling more domestic oil and developing non-oil energy sources.  The automotive and housing markets will adjust without government intervention.  A costly nationwide health insurance plan or higher taxes at this point would tip us into a deeper recession for a longer period of time.

Answer 9

My takings are down 83% since the recession hit, nobody can afford to go out anymore..

Answer 10

I agree, we're in a recession, even if some people deny it left and right.  The government should take Big Oil windfall profits and redistribute that wealth to the American people, similar to those tax rebates they did this year.

Answer 11

officially were not, but every who lives in the real world knows we are.

Answer 12

It isn't that bad. It's a normal part of the economic cycle to have a downturn. The important thing is for the govt to smooth out the ups and downs. If they do things like reduce interest rates, increase govt spending, etc. it may cause too much economic activity and high interest rates later.

Answer 13

Many believe--All poor, middle class (if exist) and some wealthy people realize low profits.

Answer 14

i think we are in a depression, or very close to one.

with the job problem, the gas problem, prices going up yet the product is smaller...

the government won't do anything until we end up in a Great Depression..and the people refusing to re-elect the current (future technically) president.

what can be done, is what the consumer can do....cut down on wants...and focus on needs...walk more than drive. go for generic foods rather than brand names. swallow our pride....

Answer 15

we are. Our dollar is worth nothing....it use to be great to go to Canada with american money and get it converted, it was like play money! And now, they can do it with us, cause we have no value behind our dollar... its sad what Bush did to this country

Answer 16

i was made redundant due to financial crisis within the company, and this is the first time in 7yrs ive been out of work due to the country struggling..... therefor i feel it has a circle effect, more people become redundant, more people sign on (fortunately i havent needed to due to husband working extra hours - bless him!) the demand on the dwp becomes higher and more tax is paid, and with there being less people with jobs and the cost of food, petrol etc being higher everyone becomes worse off.

It doesnt seem to be effecting everyone in the same way though, some people are going about life fine, some people are really struggling...so i dont know how itll end up...either way the government needs to sort out the fuel crisis, higher fuel costs mean that public transport charge more for people to travel to work, it costs more for people to run their cars to get to work and lorries pay more in fuel so therefor supermarkets charge more for food, and then businesses say they cant afford to give their staff pay rises, so there needs to be some URGENT action by the government asap before it becomes worse....

Answer 17

According to a recent Gallup Poll seventsix percent (76%} of the Americans now feel we are in a recession.

Answer 18

We are NOT in a recession.

Answer 19

oh yeah, we're in a recession

at this point the govt needs to work on finding ways to stop outsourcing and start creating jobs here!

Answer 20

What's a resession?  I believe you are under educated.

Answer 21

The recession (you spelt it wrong:P) is nonexistent

Answer 22

Recession???  Americans are soooo whiny!!!  The recession is in your "mind". LOL   Be sure and ***** slap the guy that said that about Americans from McCain's staff.  Yes, we are MOST definitely experiencing a recession.

Answer 23

hmm. its just a matter of time the government declare such officially.

Answer 24

A recession is defined as two consecutive quarters of economic shrinkage. So yeah I think we are - they are trying their best I think but the panic caused by a recession feeds the monster.

Answer 25

It's beyond that. we're in a DE-pression now.

Answer 26

My parent's restaurant business is slow. We are definitely in some kind of recession. People don't want to spend money. For example, the stimulus check probably went to paying for the bills , instead of jump-starting the economy.

Answer 27

Can't wait for the monsters.

Answer 28

Yes I think we are but its a natural rebalancing of the economy, you cant have people living with so much debt it has to reach a crisis point to break the cycle. What can the governmant do? stick thier heads in the sand and give themselves a pay rise, its too late to stop so it will have to run its course. I am in manufacturing and our turnover is down too, just tighten your belt and ride it out.

Answer 29

Technically we are.  It's a recession if there are two exconomic downturns in two quarters.  We are noe on our third.

I'm not feeling it though.  I've cut right back on my spending becasue I want to get some savings to go travelling but I guess because I'm not spending so the government will blame the recession!

Answer 30

Resession is two successive quarters of negative growth.  So that means even if we get 0.1% growth it's not a resession.  There is certainly an economic downturn though, which could easily turn into a resession.  

You say your takings are down 25%, based on what, based on when you were at the height of making money, or based on your first year in business?  If it's based on your first years profits, then you have cause to worry.  If based on same time last year, then even you are not in a resession, just a slow down.

Answer 31

It's people panicking about what MIGHT happen that is going to lead us into a recession.  Things are getting a little tight what with the cost of oil and food soaring, but that alone does not make a recession.  House prices are only levelling out after soaring for years, that was always bound to happen, just a matter of when.

Seriously, be a little prudent maybe but don't panic just yet.