Do you think America will go into recession in a few years? What can we do to prepare for this situation?

Do you think there will be another Great Depression?
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Our US dollar is already going down in value.

Yes, and there are a few states that are already in one. Michigan is one good example. Building an economy around a single industry proved to be disastrous; people have lost jobs and are losing their homes and can't afford to pay their bills. The Fed's rate cuts on prime have helped very little; they did it to SLOW inflation, but guess what? We are still suffering from it because although the prime rate has been slashed, if people are on the brink of default, a small cut is not going to do anything for them. It's a wicked game the Reserve is playing to get people into more debt. But look around you: Countrywide had to get another bank to bail it out (BOA), and Bank of America will only purchase Countrywide on a contigency that the latter will not file Chapter 11. But that is probably what it will do. Citigroup had just report nearly $10B in loss for its fourth quarter. What this means is more job cuts in the next several months. More lenders are tightening up their guidelines because of the subprime disaster and this means that many people won't be able to refinance to pay off debt or to even drop their payment. In addition to which, if a person tried to qualify for even a smaller home, they may not be able to if they had credit problems; people's homes have been listed for sale for over a year.

The same can be said with foreign investment. You've got investments in hedge funds and real estate, but this simply means more foreign owned real estate. More jobs for Bangalore. Our jobs are shipped overseas and what is left are lower paying jobs that we are all fighting for.

True, there are tools in place to curb inflation and to bail out corporations, but what does this mean to the person who has lost their job?

My income has dropped by nearly 50 % over the past three years. I work in sales and it has been tough. I have never overspent and tried to live within my means, but I am seriously considering bankruptcy because I cannot afford to pay back my creditors and I cannot sell my house because it's declined in value (I live in Michigan); moreover, when I tried to get an apartment, I got turned down by six apartment complexes. All these inquiries hurt my credit score and now I am screwed.

Hyper inflation is already here. Unemployment is on the rise now over 5%. The dollar is at all time lows vs other currency. The top 2% makes over 16K for every dollar the rest make. What your seeing is the complete destruction of the middle class. Millions of americans see their standard of living being reduced by high energy costs which get passed on to every other sector. Foreclousure is at an all time high because jobs are not paying livable wages. I have a 4 year degree and can't find a 15 dollar an hour job. I was making over 200K a year in the Real Estate market and now that has been reduced to about 1/10. Their are millions just like me really feeling the pinch of losing their job and facing higher prices on everything. My home has decreased in value to where I'm upsidedown it it now despite the fact I put 90K down on it 2 years ago. By 2009 I expect them to declare a full blown depression, who knows what kind of world that will make for. With all the greed and coruption going on at some point the poor people will have had enough and fight to take this country back.

Come visit Michigan, I have no idea where you folks have been living but I would say we have been in one for a long time. Jobs continue to go across borders, crime is on the rise because there are no jobs at all, and yes this means even fast food. People are resorting to lives of crime to feed their children. When there is no work, no aid available and you have to look at your children's hungry faces and hear them cry what would you do? People will rob and steal to feed their families. Hope things turn around soon for it is sure to get much worse. Look at the job losses in just Holland Michigan alone, their crime rate has soared, shootings, robberies you name it. Sad sad sad to see, Holland used to have one of the biggest festivals in the U.S.A (The Tulip Festival), Now folks are afraid to come and it dropped from the top 5 years ago to below 50.

A recession yes... a depression No. China and India make to much money off exported goods to the US. If we went into a recession we would stop buying imported goods and really hurt their economy. The Great Depression had never happen to the US before... now the government is aware of what needs to happen so that we do not slip back into a depression. A recession is going to happen. The only thing you can do is put money back into a personal savings account, get your credit cards paid and invest in the stock market. A strong stock market is going to help the it rebound.

Check out this youtube video of the comptroller general of the US he has no party affiliation just the facts! Watch it and then make your own descion. If you don't think we are on the wrong track after you hear this guy you need to crawl out from the rock you are under and open your eyes!

WAKE UP AMERICA!
RP '08

Chill out. I bet you think it's

ALL A CONSPIRACY!!!!!!!

certainly not. USA has good ways to keep its economy strong.

Nah, I don't think so

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