New Depression?

[Neverender]

Do you think the economy of the U.S. is headed for a complete collapse? what are your thoughts? and do you think that the $700 billion will help?

[Whisper]

I think the GLOBAL ECONOMY brought on by Americas substantial chunk of it
Is in a recession
Its bad
But its nowhere near depression levels
Looking at the news I've so far anyway only seen small bursts of civil unrest, protests, etc...
Its getting worse
The protests bigger and more violent
But ya not there yet


Money makes the world go round
an EXTREMELY small minority or the first worlds population, the elite of the elite; the kinds of people all high ranking politicians and military commanders listen to very closely, made a big mistake...
And it is the lower and middle class that are going to suffer greatly around the globe
That's life

So pay the fuck attention
and do NOT spend rashly or out of your means
treat credit cards with a great deal of respect for the damage they can do is vast
build a solid credit rating
and save for a rainy day
and you
will
be
fine.

[Junky]

I think the GLOBAL ECONOMY brought on by Americas substantial chunk of it
Is in a recession
Its bad
But its nowhere near depression levels
Looking at the news I've so far anyway only seen small bursts of civil unrest, protests, etc...
Its getting worse
The protests bigger and more violent
But ya not there yet


Money makes the world go round
an EXTREMELY small minority or the first worlds population, the elite of the elite; the kinds of people all high ranking politicians and military commanders listen to very closely, made a big mistake...
And it is the lower and middle class that are going to suffer greatly around the globe
That's life

So pay the fuck attention
and do NOT spend rashly or out of your means
treat credit cards with a great deal of respect for the damage they can do is vast
build a solid credit rating
and save for a rainy day
and you
will
be
fine.
wow Just wow :eek: thats some of the best advice I've heard in a long long time, yet it would seem like common sense. rep+

[iJack]

Nowhere near another depression.

[tbboltz92]

I think were screwed either way. America dosnt hav e700 billion dollars to bail anything out. So how do we plan on bailing out a whole country.

[iJack]

The bail out is off people, and we are nowhere near another depression. Not even close

[Attax]

I totally agree with iJack, we are not near; however, if the bailout does fail we could fall into a slight recession like we did earlier this year.

As Sen. Bernanke said "Our economy is in a decline and we need a plan to fix it or else it will worsen" (that is paraphrasing), we need a plan, whether it is 700 billion dollars (which we now know that it is not) or something else we must do something to get out of this crisis.

A depression is out of the question, it is just the fall of the housing market right now. With many major banks being bailed out by the government or bought out for very cheap by other banks (such as Morgan Stanley, etc.).

And as it was said earlier, money is not a toy and just because you have it does not mean you should spend it, for you never know when you will just need it and it won't be there. Do not be wreckless and you will be better off in the long run. WHo knows, chances are with the way S.S. and Medicaid, etc. are going we will not have it whenever we are old enough to draw benefits from it although we put money in it. So remember to be smart, responsible, and most of all stable.