What happens when our economy collapses?

Question

Do we lose our home and belongings? How will America get out of its economy troubles?

Answer 1

It won't, we will go to war before that happens.

Answer 2

Our economy will not collapse. It is still rising. The economy will definatley slow down until McCain is elected, but it will not collapse.

Answer 3

It amazes me how many people base the world existance on their short life experience. The 80's and 90's were great times economicaly so they expect it to always be that way. All they have to do is read to broaden their perspective.

Answer 4

I will dip into my stash....

I don't keep my money in the bank two of my houses are paid for if i lose the last one oh well

I'm not worried

Answer 5

Unemployment will skyrocket, many will lose there homes, inflation at first then deflation which is worse, companies fail causeing many to lose there retirements, the stock market collapses, banks fail causing many to lose there savings, cats and dogs will become a delicacy, and republicans will once again lose the white house and congress for at least 12 years till the democrats once again pull us out of it, but besides that not much.

Answer 6

Things just keep getting more expensive as time goes on until you can't afford anything anymore. But I doubt that'll happen, America seems to have a knack for getting out of problems but they'll only do something about it when in an extreme pinch.

Answer 7

Here are some good example in these videos

Answer 8

OMG. Recessions happen. Read a history book for goodness sakes.

Answer 9

If it went that far we would have another depression like the 30's when the stock market crashed.I don't think that will happen.

Answer 10

We go into the great depression II.  I doubt that it will be that bad but I could be wrong.

Answer 11

The middle class suffers the most. Those of us who work for a living. Not the poorest, who live off of Welfare, nor the Richest who live off of Dividends... rather those of us who work. Blue collar, White collar.... if you work for a living, you will suffer during times of Economic collapse. The Rich will take their money to countries that are doing well, and continue to make money. Only the government can work to raise minimum wages, which will raise the wages of every worker who works for more than minimum wage.... and according to the economic laws of Aggrigate Demand, the economy will thrive once again. i.e. When people have money to buy stuff, they buy stuff. Bill Gates would never have made his money off of Computer Systems if nobody could afford those systems.

As corporations are a government entity (created as a safeguard for those unwilling to take the risks of a free-market) they must be regulated in a way that only the government can do.

Here's a visual... Drive through a unregulated mountain...i.e. with no roads, and you'll have trouble. However, if the government builds a road, you can drive through that mountain with no trouble. Like it or not, the economy is the same. The government must design roads that work.  So that people can drive them. (Entropreneurship)

Answer 12

Our economy isn't collaping, it's called a recession, there have been several.  The second depression isn't coming, we'll bounce back after everything settles down and industry realizes they're losing money.  We'll be fine.

Answer 13

It won't.  This is all cyclical - the economy historically has ups and downs.  We'll be just fine just as long as the lib's don't tax us to death

Answer 14

You'll have to move to Mexico to get a good paying job.  Perhaps illegally crossing their border.

Answer 15

Not going to happen.  Fuel prices will come down, one way or another.  When enough businesses that do not sell necessities collapse, the government will have to step in and stop the gouging.

Answer 16

TOTAL ANARCHY.  Polticians flee the country with the millions they scammed off the American people and militants blame the problem on ethnic minorites like Hitler did.

Answer 17

Until we find something to replace fuel, witch we won't, we will lose more and more money until people start giving up thier cars, and it gets worse from there.  Just a whole bunch of fun stuff.

Answer 18

A collapsed economy looks like Zimbabwe.  I think we're ok.

Answer 19

In the past the economy has always gone up and down. We could be facing a depression era. And if you own your home with no debt to it, no you won't lose it, if you owe mortgage or something and don't make the payments, that's the only way you'll lose it. I don't think the government is going to take it from you. America is facing a possible depression era. And I have no idea how were going to get out. I guess move back to England. Or just continue to work and do the best we can.