I need realistic answers about the US economy?

Question

I think it's disappointing that our economy is not doing good at the moment. It seems to get worse every day. I'd like to see the US dollar most powerful again, but will that ever happen? I believe the country is going through a bad time at the moment, it's happened before, and we came out of that, so surely, the USA will survive this as well?

Answer 1

too many people  get wage increases, which makes the dollar worth less.

If anyone can do anything for less than america can, then the dollar is worth even less.

we get paid too much.

Answer 2

The sub prime mortgage fiasco springs to mind. This situation has reduced credit availability and spending capacity of American consumers by dramatically lowering the value of their properties, consequently flooding the property market with properties nobody can afford to buy. The war on Iraq has drained Trillions from the US taxpayer for very little return. This is not a criticism of US policy. it is just an economic fact.

Wall street has also taken a hit with consumer confidence being so low and profits from huge corporations such as General Motors being forced to sell assets in order to pay short term liquidity debts.

Oil prices are also contributing towards this downturn because of the reduction of disposable income consumers have. Fiscal and monetary policy have failed in the short term to kick start the economy by cutting taxes through a series of rescue packages and further interest rate cuts may need to be considered.

Answer 3

Jesus Christ were not even in a recession

A weak dollar mean =/= weak economy

Answer 4

I would like to bring this back into the realm of social science. Beginning in the 1930's and really taking off since 1964, Americans have become enamored of getting versus giving. This cultural shift from responsible daily management of our lives to "if it feels good do it" has become a cancer to our souls. Faith has been replaced with selfishness, fiscal responsibility with greed, personal responsibility with entitlement. Not just corporate or governmental. We as individuals have succumbed to these vices. Many of the financial implications offered here are merely symptoms. Buying cars and homes we can't afford, looking to Washington for checks and trying to behave as though we are richer and better than our neighbors. Our society is so self absorbed that we have children being taught how great and special they are before they have even done something great or special. There is nothing worse than an uneducated kid that doesn't know he's uneducated. Are we the U.K. as she floundered and receded? I don't know. I do know that unabated spending, selfishness and faithlessness are signature traits of every great civilization before it fell.

I, like you, believe that America's best days are ahead of her. I believe that Americans, more than any other people, have the ability to correct their failings. I also believe we will.

Answer 5

That is uncertain at this point, we may be at a point of inflection, much as the British Empire was before it collapsed into just the United Kingdom.  The present value of our outstanding debt plus promised obligations to veterans, civil servants, and retirees exceed the present value of all private property in the United States.  If we were required to pay all of our bills, we would be bankrupt.  The next president will have to  steer a course of extreme fiscal conservatism, with extreme military reductions, tax hikes and benefit cutbacks, or we will see decades of problems.

Answer 6

if you need answers, don't ask these idiots. it's all about the value of the dollar against the world.

it's losing value.