We are definitely headed for a recession. The only questions...how deep will it be and how long will it last?

Question

All signs point to a potentially deep economic slump!

Gas prices could well DOUBLE within 18 months - maybe even worse than that!

Unemployment in the USA is getting pretty bad.

Food prices rising everywhere!

I don't mean to be negative, but it doesn't take any expertise in economics to tell that we are headed into a potentially severe recession - maybe even a recession!

My questions:

How bad will it be?

And how long will it last?

Answer 1

too big questions atanswers! You know when the economic Tsunami hits none knows which is which -only atter its passage we start considering what has happened-and apply the same rules at diagnosis to get more stuck up next time.

Answer 2

I think it's more than a severe recession, or even a depression.

     The middle class in this country has been so decimated during the past 20-30 years, with 80-90% of the wealth perculating to the top 5%, I don't believe that it's possible for this country to ever regain its former pre-eminent economic status in the world.

     With the national debt now close to(I've really lost count)the 11-12(?) trillion dollar level, and the perpetual drain of the on-going two wars, no matter who is control of congress or the Presidentcey, there's no realistic prospects for our getting any meaningful handle on it in the forseeable future.

     With China and the Muslim world holding most of the notes for all our debts, all they have to do is to cut us loose; and we would be down the tube.  This is not a remote possibility, but a real strong probability.

     The job(s) flow out of this country, continues unabated: no end in sight.  

     Currently, our dependentcy on forigen oil, is bankrupting many of our once viable corporations: lower profits, diminishes an already strained tax base.

     If anyone can show me a "silver linning", I would be very happy to take a look at it.

                                        Alberich

Answer 3

hehe.. I guess even Milton Friedman don't know this answer.. Anyway, just some personal view, I am worried about a global hyperinflation if oil price is still not gonna come down, as for the reason, you may check out my blog http://pianoism.blogspot.com. However, I hope that when the new US president might be able to do something to stop this disaster from taking place. I strongly believe that the US government has the power to change the situation, it is greed that forced them not to do so. Just my personal opinion :)

Answer 4

It will be far worse than 1929

and will probably become another Dark Age,

the scenario is very bleak, but don't call me a gloom & doomer

The USA dollar is collapsing, McCain and Obama together couldn't come close to stopping the crash, but probably will happen it time to blame Bush.  It's not just Bush, it's the entire political socialist scheme.  I hope we get back to reality someday, but I'm older and doubt I'll see that.

Answer 5

i know i just found out they are sutting down my job in september it sucks