What does the condition of the US economy depend on?

Question

I hear 2 opinion today some saying we are in recession some say we are not. Some say we are getting worse other say it will turn around. I am not an economist so it is hard for my to say. So what are the main things that it depends on and where it headed? I have a couple ideas like: energy efficiency or alternative energy so that we don't depend on foreign oil, produce, birth rate, technology, US businesses, and of course good politicians who will make the right decisions. P.S. I dont mind a long answer.

Answer 1

Well, generally things are really bad when economists all agree we're in a recession or really good when they agree we're in a boom.  So everything in between is just bickering.  When you turn on CNN and every news story is about hardship and people losing money I'd say you're in a recession.  When it's about waiters turned dot-com ceo millionaire overnight I'd say those are the good times.  

Our economy depends on growth which depends on keeping things affordable and giving people good returns on their investments.

Answer 2

Conditions:

1. Make a new war. Iran is the next target. The new war could raise economy.

2. Import less goods from China.

3. Don't bye anything produced in the rest of the world:-) For example, bye a Nokia phone, or a German car....

Deficit is very big.

Answer 3

I would say everything is linked to each other in various levels.

I think the word recession is hopping for the last several months due to gas prices. Certainly, inflation is more fearful when one of the indicators is running wild. Still, I am not sure we are there yet or even get there any time soon. Unemployment rate has gone up, yet it seems somewhat prospective. Wages have gone down in non-farm sectors in recent month. Well, you can worry, yet you can also make an assumption that kids are going back to school so take it easy on those stats. Housing market is in a slump and finance sectors are shaking up with it, or rather other way around. People make all kinds of assumptions and economists do the same everyday. Is that mean they are right? Maybe so, but someone is wrong... Just have to wait it out.

NVM... you can actually decide whether we are or going to be in recession...one source would be here: http://www.bls.gov/news.release/empsit.n...