Economic Depression?

Question

there has been a lot of talk about the failing economy. I honistly think that we are too developed to have to be worrying about our economy, but why are we? Why has the cost of living gone up so drastically in the last couple years? Why raise minimum wage and raise the price of everything else at the same time? are we going to have to hit complete rock bottom; meaning rationing gasoline, and having business shut down, before we fix anything? I learned in History that we are the most powerful nation. Why the H E L L are we suffering like we are if we are so powerful? Is it the war? Is it our president? Will things go back to normal with a new president? Or is this how its going to be from now on? The price of gas is out of this world. Is it going to be fixed ever. Please someone put some light on my worry.

Answer 1

GAO Director David Walker has been touring the country for years warning of the impending bankruptcy of the U.S. I believe the worst economic depression in this country's history is about to strike, and no one in Washington wants to talk about it because they're all cowards. I predict the depression will strike in October, 2009. Markets will fail; banks will close, and tens of millions will be out of work.

We've squandered our resources for far too many years. It is only a matter of time before this nation sinks into bankruptcy.

Most of us are not "suffering". We're simply over-spending. The things we think we 'need' are often things we can do without (like all that [petroleum-based] plastic junk we buy from WalMart at low prices - everyday). It's time for Americans to wake up and recognize that we can't continue to live in the kind of consumer squalor that we've been conditioned to believe we deserve. There are people in this country - and around the world - that are sick, elderly, disabled, disadvantaged, underprivileged, unemployed, homeless and hungry. It's time to share the wealth with our fellow citizens - and with the rest of the world.   -RKO-  06/24/08

P.S. My God, we complain about waiting in line at DisneyLand when there are millions of people that wait in line for a bowl of rice!! where are our priorities??

Answer 2

blame gas, gas is affecting the economy the most, we dont have that much  gas so price goes up since we have lots of demand but low supply, people cant afford it if the lowest wage doesnt raise and therefore if people cant pay to get to work or their work cant afford to pay the extra min. wage then they go out of bussiness, there are lots of things gas affects but its most supply and demand these days supply is going down and demand is going up

Answer 3

i don't think anybody can answer those questions, they can speculate and make predictions but theres just no way to tell.  we're still the most powerful country but other countries are catching up, which in turn makes the value of the American dollar go down.  personally i believe we will never see low gas prices again, $3 a gallon maybe, but not like they were 6 or 7 years ago around $1.50.

Answer 4

Economic depression we are far from, but we are going into a recession. It doesn't matter how developed a nation we are, everything goes through it's "business cycle". Price goes up because of inflation and falling currency value. That's why something the cost $10 15 years ago may cost $18 today. Remember the US dollar is just "paper" to collect on debts. It's not back by gold anymore like it was before President Nixon did away with that. Ask in history class about all great nations throughout history and you will see that every great nation falls and a new nation takes its place. I'm not saying the US will fall anytime soon or in 10 years, 50 years, or 100 years; but it will fall someday. To not be nieve to history and the past because it tells the future.

Answer 5

No Its is not the War or the president !

The true is that we are scaling up to head a very large war ! The world is starting to buckle under the mass population !There are just far to many people and there all out to be on top ! As we are already  forcing the Earth there is no way possible that we can maintain the cycle of life or our life style! There is only one way to save humanity and that is to set back the population ! that is sad but true . There is no other way that we can compromise we are just to stupid or just to stubborn to find a diffent way !

Answer 6

Don't believe everything you read in the NY Times.  We went to Disney World today.  It was CROWDED.  Ride times for Space Mountain, Mission Mars and other top rides reached over 100 minutes before lunch.  The restraurants were full in Epcot's World Showcase and the gift shops were humming.  95% of the public still have jobs and other that the real estate bubble and high energy prices, things are going along fine.

Answer 7

1)Regarding UK Scotland has still the highest job growth and the lowest unemployment

2)Prices and cost of life raises but the minimum wage as well so no fear no pain, that means we are getting more and more.

3)Industrial revolution is over. Check everything in your house, all your stuff, laptops, mobiles... Everything is made in china. The money changes hands. China will be the next arrival of Eu and USA, but that has just started. It takes a lot of time until things will settle and who knows then... it would be our graveyard or a good balance....