Since the economy is in a recession and seems to be getting worse everday...are we going into a depression?

Question

Since the economy is in a recession and seems to be getting worse everday...are we going into a depression?

Answer 1

A recession is when there are 2 consecutive quarters of negative growth.  The economy is in a bad slowdown, but isn't technically in a recession.

Answer 2

Honey if you listen to the media, we will be in a rotten economy until the DEMs get power, and then everything will be rosey again.

The stock market is still higher than when Bush took over from Clinton.

The US is going away, they are making room for the new money and government

didn't you get the memo?

Answer 3

No, we are not. The media ratings are based on fear. Most of the reports coming out are fabricated to cause false alarms to go off.

Answer 4

Well, my mother work at a bank, so i kinda know the answer....no... we are not going into a depression....i am from romania so here our economy is always the same...it still has some influences but not like in usa....an euro is $1.6 or something like that...that's not very good....

Answer 5

A depression would require the dollar to be increasing in value (due to it being in shortty supply).  You can't have a declining dollar and a depression.

Answer 6

No, there's just a lot of insecurity and uncertaintly going on right now. Once we're past the election year, I think things will get better.

Answer 7

2 timothy 3:1-7

1  But know this, that in the last days critical times hard to deal with will be here. 2  For men will be lovers of themselves, lovers of money, self-assuming, haughty, blasphemers, disobedient to parents, unthankful, disloyal, 3  having no natural affection, not open to any agreement, slanderers, without self-control, fierce, without love of goodness, 4  betrayers, headstrong, puffed up [with pride], lovers of pleasures rather than lovers of God, 5  having a form of godly devotion but proving false to its power; and from these turn away. 6  For from these arise those men who slyly work their way into households and lead as their captives weak women loaded down with sins, led by various desires, 7  always learning and yet never able to come to an accurate knowledge of truth.

Answer 8

By definition, we aren't in a recession.  We were in a small one in 2000, but the Bush tax breaks for the middle class pulled us out by 2002.

We've had a slowdown since 2006 and many think it's due to the democrats winning the house and senate.  Economics is tricky, but the economy always works best when government stays out of it.

That's why we had a pretty good economy during the first term of Clinton.  He stayed out of the economy and it flourished.  It started declining into a small recession after he raised taxes to an all time high in 1996.

A depression is quite different.  Most economists agree that the one in the 1930's was prolonged by the New Deal and FDR's inability to understand and allow the market to correct itself.  We've learned a lot since then and would possibly not go into another depression of this type ever.

The economy's doing pretty good really.  Anyone who's been investing for the last 8 years will attest to that.  I've done well myself.  

The economy can be adversely affected by pessimism, which is what the media is hoping to do by making people like you believe we are doomed.  Try to be more optimistic and you'll be happier and richer too.

If you think the economy is bad now, wait til Obama wins.  They predict a stock market crash like the great depression once he puts his economic plan into place.

Answer 9

Apparently you missed the Presidential news conference wherein our leader told us everything was good. But then again, it was the same guy who said Iraq had all those WMD's.

Answer 10

First of all, as it has been stated over and over, we are not in a recession.  And the Administration is doing all they can to help the Housing problem.  If the Democrats would stop blocking everything Bush is trying to do, things would be better.