Is the economy going into a deppression (soon)??

Question

im 13 and i think so. im looking for other reasons and/or opinions.

Answer 1

well if gas prices go up then the country might have a huge problem.

Answer 2

Let's put it this way..this is technically an economic slowdown, not a recession or depression.  As long as the economy is growing, (and in most areas it actually is, at least until this quarter, where the numbers are not available yet), you can not have an economic recession or a depression.

That being said, with energy costs skyrocketing and no agreements on how best to domestically cope with this in sight, I think it is safe to say that a recession does loom, and it probably will not be like ones we have had before.

I know some economists have called this a recession, but for my argument, I use the strictest definition of the term.

Answer 3

Yes and We are going Bankrupt - According to the Liberals.

and yet Obama raised 200+ millions for his election so far.  wonder how he got his money and why does he NOT donate to the poors since he care about them that much??????

Answer 4

Do you know the definition of a recession?  It's two consecutive quarters of negative growth in the GDP.  So far we have not had one quarter with negative growth.

Answer 5

The absolute earliest we would know would be sometime in October probably....we need 2 consecutive quarters of negative growth, as of first quarter we were still positive, we don't know 2nd quarter yet....assuming 2nd quarter is negative, third quarter would have to be negative too.  I don't think we're headed for one...lets wait and see, speculation drives the markets and this type of speculation is what may force us into a recession/depression.

Answer 6

Probably not, we haven't even experienced recession (technically).  Many in the media will say we have, recession has come to mean hard times in an economy according to pop culture, but according to its definition, it hasn't occurred.

Answer 7

technically my butt!!! i don't care what the "definition" is.  we are in trouble!!!!!!!!!  as far as i m concerned this IS a recession.   h**l, even the red cross is out of money!!

Answer 8

No where near it.  But if the democrats in congress continue to impede progress, which they have done since 2006 - when our economy was doing well and we had seen nice steady growth for a few years - then we may be in trouble.  If Obama the dictator is elected...then you can bet whatever dollars Obama allows you to keep that we'll all have a gloomy next 4 years.

Answer 9

Maybe that's what has to happen before Americans will unite and realize we are all one people. We've had it too good, too long and Americans just take everything for granted as if they deserve it just by being American.

WWll brought us out of the depression when WWll started and people of all parties became one and focused on what's really important. FREEDOM.

And WWll was truly exactly about that. Had the Americans not gotten involved and the n**i's were successful in invading and occupying England, we would be living in a very different world today.

Answer 10

I wouldn't be surprised. I'm scared for the next president who has to pick up after everything President Bush did. I think we will probably have a party though, once we get a new president.

Answer 11

Amy, just like Bush did for Clinton

Look at the stock market and employment numbers.

They are healthy

The news tells you its bad times becuase they want you all to vote for Obama.

Things will never be good as long as the other side is in office.

If the world market crashes, it will have nothing to do with Bush. External forces are driving the world economy