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If the stock market keeps acting the way it is do you think we can get into a new Depression cause I think were already in a Recession which is the first step to a depression. What is your opinion on this topic?
Last edited by Bo; 03-03-2009 at 04:02 PM..
Reason: Moved from San Antonio forum.
Actually we are not in a recession yet.We have certainly seen recessions and they were much worse than this. Unemployment around the country is still low with some pockets being high.If we go into a recession we would not know when it started for sometime.I remember the recession during the carter administration . Inflation in double digits;gas prices triped quickly and unemploymant was very high.the main problem is in housing causing ripple effects in other areas similar to the banking crisis in I beleive the 80"s.
Wasn't Carter Stagflation? Were you had a non growing economy, yet prices on everything went up? I think there is enough liquid money floating around were we maybe safe from recession, again we won't know until about six months from now.
If the stock market keeps acting the way it is do you think we can get into a new Depression cause I think were already in a Recession which is the first step to a depression. What is your opinion on this topic?
Until you see job growth affected, it is NOT a recession. I believe that the real cause for the changes in the stock market is actually a correction (which the market does cyclically), and has been forcast and "overdue" if you will now for almost 14 months.
That, coupled with high gas prices and poor risk "creative financing with adjustable interest rates" are the issue here, not job growth.
SA is supposed to add another 85,000 jobs in the next 5 years (according to MetroStudy). Our unemployment is low. Stocks have dropped some, but they've also had record days in between. This is nothing close to a recession.
The problem is that we're in a generation of cable news and everyone stays glued to their televisions to see what doom and gloom is on the horizon. Bad news gets ratings, but honestly, we're in a great economy. Talk to my grandfather who lived through the depression. We're not going to be anywhere near that.
Our economy is too diverse to go through a depression. If we're standing in bread lines and 70% of the workforce is unemployed, then we're in a depression. There are too many safeguards against that. Won't happen.
Like Paka said, the market's just correcting itself, which it needs to do from time to time.
The problem is that we're in a generation of cable news and everyone stays glued to their televisions to see what doom and gloom is on the horizon. Bad news gets ratings, but honestly, we're in a great economy. Talk to my grandfather who lived through the depression. We're not going to be anywhere near that.
Exactly! It seems like people are getting nervous about this based on the news, not on any real issues like loss of job etc. If all the news stations just got together one day and stopped talking about it, most people would have no idea one way or another how the economy was doing unless they personally got laid off or got a raise.
Kev Crawford nailed it, this is more media hype than anything else. Remember this is an election year, and the media tends to lean left. Secondly, how often does the media, and I am including the major news networks here, really do the homework on an issue they are reporting? Rarely. Usually, they will interview one so-called "expert" but it is far from being accurate research. Lastly, when was the last time the major media outlets reported any good news? Other than the occasional story to boost ratings, 95% of what is reported is negative and usually sensationalized. That is one reason I try to avoid watching the news, which is tough as it is on all day all over my building on big screen TVs. I just tune it out, and if I want accurate reporting, I go online or watch BBC World News.
Even though the contract I am on is subject to renewal every year, I am not worried about being unemployed. There are lots of jobs out there and we can still afford to buy all the items we classify as basic needs. As a matter of fact, we can afford quite a few luxuries as well. If the US was in a recession or on its way to an actual depression (which is simply a severe or long recession), there would be many more obvious indicators and no doubt about it!
Much like all the hype behind the fall of the housing market, the belief that there is a recession coming is pure hyperbole that is political motivated. Don’t fall for it!
Confucius says, "he who will not economize will have to agonize".
Banks freezing credit lines, increases in foreclosures, investment banks writing down assets, etc., are all early signs we (the U.S.) are headed for/in a recession.
Recession is defined as 2 quarters of negative growth. That hasn't happened. We are not in a recession. Not in a depression. Are we in a period of decline, yes. No need for alarms, just preparation and foresight.
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