Not to sound like a pessimist, but is our economy on the brink of collapse?

Question

Not to sound like a pessimist, but is our economy on the brink of collapse?

Answer 1

We are currently in a recession which may become moderately severe.

Brink of collapse or depression is not the right terminology.  Capitalist economies are cyclical.  The US went through some tough times in the early 80s and in the 70s, as well as many other periods in the past.

In each of those times, the economy recovered and moved much further along.  There is nothing to indicate this cycle is any different.

The one exception was the depression of the 1920s.  Yes it did come back, but it took a very long time, and the economy got very very bad.

Answer 2

Our economy is based on money that doesn't exist in the first place.  The only reason the economy would collapse is if a bunch of investors get their undies in a bunch and get scared and try and take all of their money out of the stock market all at once.  If that happened, even when the economy was BOOMING it would collapse the market.

I'm NOT saying the economy is in a good state, or that our country has made a lot of "good" decisions with it as of late, but it will not collapse unless morons freak out and create their own demise.

Recession, yes....a definite shift in how things work...but maybe this will force people to start investing in companies that produce NEEDED products and services, instead of the frivolous investments based solely on growth potential that have ruined our financial system.

Answer 3

Yep.

Stock up the basement with non-perishable food

and weapons.

This country is going down the tubes.

Answer 4

no it is just hitting a recession which is common. every economy has a cycle of upward and then downward growth and up again. you are just going down and i really doubt that you have hit a depression yet. and if you do well the world will not end and the economy will not die just hit hard times

Answer 5

No, but a shift.

If our economy were collapsing you would already be in your basement with a shotgun as people would be raiding your house for supplies.  Think Great Depression.

Answer 6

Yes.

Answer 7

I don't think our economy is on the brink of collapse right now. If our leaders in Washington (both parties need to wake up and think of the American working man for a change) if they don't than yes I think it will collapse in the near future like the next five years.

Answer 8

Yep.  And Pres. Bush saying it's not doesn't make me feel anymore comfortable.  To quote him, "Our troubled economy is basically stable."  How can something "troubled" be "basically stable"?