Is anyone else scared of the impending economic crash?

Question

*shiver*

Answer 1

In a way I am worried.  But I also have faith.  The US has been through much worse before.  The Great Depression was a lot worse and America pulled through it.  I think the same will happen.  Right now, things are bad, and our debt is up, along with inflation and yes I agree the future doesn't appear rosy currently.  However, I have hope that things can turn around.  For one thing it is 'normal' to have not so great economic occurances.  There will be booms and busts in every nation's economy.

Along with having made it through worse busts and problems, I have faith the US can make it through because of another reason...I'm sorry if this sounds like a biased answer, but I think Obama's economic plan would help.  He calls for the Bush tax cuts on the rich to end and that would help bring surpluses.  More surpluses= less deficits.  Less deficit means smaller national debt...and that would decrease inflation and help reduce some problems (many of today's financial problems are created by the huge nat. debt).  It will take a while to pay it down, but if we can start cutting it down a bit, we can get the economy better.  Furthermore, Obama's plan is predicted to bring surpluses and his diplomatic approach (and enviornmental approach) will help as well; his desire to strengthen American ties and diplomacy will improve America's image (and reduce tensions in middle east, which have caused oil prices to skyrocket, not the only cause but it is certainly one cause), and invest more in alternate energy (less dependence on oil and more on pernament energy, better reliable source).

Answer 2

Yeah, but there's not much we can do.  Unless we throw ourselves into war, that brought us back after the Depression...

Oh wait, we're already in a war...

We're screwed.

Answer 3

Impending???

It's already happening, babe

Answer 4

I am scared of such questions. I am an optimistic. I believe in my knowledge. I believe Law of Conservation. Matter/energy/wealth/soul/God can neither be created nor be destroyed but can be changed from one form to another. Nothing will happen to economy and nothing will happen to mankind. It is impossible to change this universal law. Please study wealth the way chemists study matter.

Answer 5

no, i don't think a major crash will happen, unless the total global economy will collapse. it would take global failure to kill the american economy since everything is so intertwined as a result of globalization. what will happen tho is the middle class will shrink, but in all of human history there have always been poor starving uneducated people, so i dont know why people think the 21st century is different.