I don't know if you lived in California right at the moment you might reconsider....It's a real close call here. In short, I am leaving here to anywhere USA.
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Bowtech Destroyer 350,Elite XLR, Crimson Talon 125's and NAP Bloodrunners also 125 Grim Reapers
Like any other poll, If you don't know the specifics of how the questions were asked, it's hard to know how to interpret the results.
With that said, I would say that the economy is slightly "depressed". There are many variables that effect the economy, and more often than not, any one person is not directly effected by more than one or two things.
However, the uncertainty of future gas prices effects pretty much everyone. The expression "pain at the pump" has never had more meaning than now. Hence my opinion that the economy is slightly "depressed"
On a side note...During the gas crunch of the seventies, cars were manufactured that got incredible gas milage...The V.W. rabbit got some 45-50 miles to the gallon. And yet here we are, thirty years later with the average milage in the "teens" for larger cars and only in the "20's" for economy cars.
I don't know if you lived in California right at the moment you might reconsider....It's a real close call here. In short, I am leaving here to anywhere USA.
Same thing here except our gas is somewhat cheaper here.. So you do not want to head this way or you would be dissapointed..
Americans just accept what they are spoon-fed by the media. Remember that well before this current downturn in the economy began, polls showed that a majority of Americans believed the economy was bad.
However, I will say that as gas prices continue to rise, there really is no limit to how poor our economy will get. I wouldn't say that a depression is impossible.
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Politics, it seems to me, all too long, has been concerned with right or left instead of right or wrong. ~Richard Armour
Indeed it will be interesting to see how this plays out. The fed has been cutting the discount rate, which fuels inflation, a low dollar, and an oil price increase. I've heard this approach as being like hosing out a house fire. You do what you can to put out the fire, knowing and acceptingthat there will be a lot of water damage.
"I would suggest that 38% of Americans take an economics course."
FYI, I have 45 semester hours of economics courses at course levels of 100-600. I can tell you that this is theworst economy thatI have seen in my 69 years on this planet. Several respected former members of the federal reserve state thatthe present economic situationis the worst since the beginning of WWII.
Folks with money in the bank and in CDs are getting royally screwed every time the fed lowers the prime lending rate in order to keep the NYSE from going boobs up. Wonder what will happen when the fed rate gets to zero and the stock markettanks anyway.
The fed had never bailed out an investment, stock trading firm until now:
"The subprime mortgage meltdown made 2007 a disastrous year for Bear Stearns, one of the nation"™s largest underwriters of mortgage bonds. Beginning this summer with the housing slowdown, Bear Stearns has stood as the prime example of how Wall Street"™s big bet on securities based on risky home loans went south.
While many of its peers, including Merrill, Morgan Stanley and Citigroup, have announced far more in devaluations, Bear Stearns draws far more of its profit from its trading operations. That was reflected in its fixed income unit, which reported a net loss of $1.5 billion, down sharply from the $1.1 billion in profit the bank reported for the same time last year.
While there were rumblings about the weakness of the subprime mortgage in the spring of 2007, it was the collapse in June of two internal Bear Stearns hedge funds that had been heavily invested in mortgage securities that kicked off the full-fledged market panic that peaked in August."
how the heck can we be talking about a depression, when we haven't even had the 1 quarter of recession yet????? I agree, some people need to take an economics course.
how the heck can we be talking about a depression, when we haven't even had the 1 quarter of recession yet????? I agree, some people need to take an economics course.
I judge this here in California by my plumbing company over 1 year ago we employed 11 and had that same 11 employed for the last 9 years,here in Southern California, today we employ one...I cannot speak for the rest of the nation, but here in California the recession is a little bit further along that 1 quarter, over a year now...no one just wants to admit it. I don't need an economics course on this one. Common sense will do!
I am not the only contractor here that has been pummeled by the economy. If ya look around here, its just not construction related either...all you have to do is open your eyes and LOOK.
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Bowtech Destroyer 350,Elite XLR, Crimson Talon 125's and NAP Bloodrunners also 125 Grim Reapers
Economic Depression?
