Is the economy really going down?

Question

will prices for everything keep soaring? will it become another great depression due to stock markets are having downfalls? food and gas prices are rising due to less oil is being transported to US we dont have enough of what americans use daily...is it time to save cash or into a checking acct? is it a good time to buy a home (i live in NY) ? i need any info relevant to this thanks a bunch

Answer 1

i think it is, allthough im not sure that the new president will help it much, i dont think theres much for anyone to do about it, allthough if the gas prices keep rocketing, i think that the oil companies will crash and the economy will to if not before, soon afterwards, and if this happens, it think a current depression would be way worse than the one in the forties, because today no one knows how to farm and grow their own food.

Answer 2

The economic structure is heading for a downfall. The price of gas is going to hit $5 a gallon in the summer. Bread will become $7-$8. People will be forced to walk and ride bicycles to work. The only people who will be driving on the street will be people with huge wallets. I recommend that people walk, get exercise, and save money for really useful things.

Answer 3

It sure is. It's not wise to buy a home, because prices are still dropping and no one knows when they'll stop. You loose money by keeping in the bank due to the low rate of interest, the taxes you must pay on that interest and inflation. Invest in quality companies that are inflation proof, IE: energy and food. I think that a new President will 'start'  to turn things around.