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View Poll Results: Do You Think America is Slowly Going Downhill?
Yes, America is headed in the wrong direction. 211 68.73%
No, we're fine. It's just a little downtime. 96 31.27%
Voters: 307. You may not vote on this poll

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Old 09-22-2008, 06:41 PM
Location: Twin Cities, Minnesota
3,940 posts, read 13,065,751 times
Reputation: 2200


With all of the recent Wall Street issues, the rising prices of energy, the dying mortgage markets, and all the crooked politicians/CEOs do you think America is headed towards another Great Depression -or at least a recession? Why or why not?

Old 09-22-2008, 06:48 PM
Location: Orange, California
1,572 posts, read 5,508,116 times
Reputation: 718
Originally Posted by DannyBanany View Post
With all of the recent Wall Street issues, the rising prices of energy, the dying mortgage markets, and all the crooked politicians/CEOs do you think America is headed towards another Great Depression -or at least a recession? Why or why not?
Yes. I would not go so far as to call the coming storm a depression, but I think that many of the promises and "funding" that Congress is talking about providing to investment banks will cost taxpayers in the trillions of dollars when all is said and done. At some point, either taxes will go up dramatically or rampant inflation (because of devaluation of the dollar in light of America's decreased creditworthiness on the international stage) will strike. No matter how you slice it, it will be tough times ahead for middle class aspirants 10-20 years from now. I do not want to see my own taxes go up dramatically, but there is going to have to be a day of reckoning for all of these tax cuts and massive government spending (war, bailout, farm subsidies, medicare/medicaid, etc). Even in the current election campaign, both candidates tout a plan to cut taxes. The only way tax cuts are viable is if we curtail spending. I do not see that happening and I think America is going to slowly decline in an economic sense as a result. Sad.
Old 09-22-2008, 06:54 PM
Location: New Albany, Indiana (Greater Louisville)
9,583 posts, read 20,459,831 times
Reputation: 9077
The US won't experience 1990s like propserity until we start creating jobs en mass for the energy sector. Just like the US is currently service industry based (people make money at McDonald's and go spend it at Burger King) we could develop an energy based job market where people make money creating biofuel and then spend money on biofuel when they get home.

The bottom line is new innovation fuels job growth, like the automobile boom did in the 1950s and computers in the 1980s and 1990s. There have been no new major innovations this decade, but simly improvements on 1990s technology
Old 09-22-2008, 07:04 PM
365 posts, read 1,106,339 times
Reputation: 252
No, I don't think the US is slowly going downhill. I think it is quickly going downhill.
Old 09-22-2008, 07:37 PM
2,506 posts, read 7,611,958 times
Reputation: 827
I have never sat through an economics class. My ideas come from deduction and a religious reading of newspapers. Anyways. In the Depression, Wall Street crashed and took many other places with it. However, the Federal Government was still viable enough to support unemployed peoples. It didn't bail corporations out as much as it found new things on which to base economies, and made capital improvements in the meantime. It was a forest fire, if you will. We shed our 19th Century economy and had the power and wherewithall to build one for the 20th. Corporations still invested back into America. People lost savings, but they had actually saved in the first place. Our economy was based on tangible goods. Pittsburgh steel, Detroit trucks, Akron tires. It took a temultous decade to make these reforms that were needed to modernize, but regulations were put in place to ensure that the economy would remain sound and in Sen. McCain's words, the economy was still fundamentally strong.
Today, our economy is not based on tangible output. It is based on buying things that we can't afford. It is based on building tract homes and Miami condos. we have not saved, and the only thing we have as a country to offer as collateral on out bad loans is ourselves. Budwesier goes to Belgium, Chrysler to Germany. We do not have an educational system that produces workers that an international company would want, so the information economy really doesn't work too hot for us. We are a nation of consumers that can no longer consume. In order to consume, the Feds have decided to print $700,000,000,000 that we don't have. Weimar Germany tried that one. This system is jerryrigged and bound to fail us. The only thing that I see keeping us afloat is the size of our market. it doesn't particularly matter if you call it a recession, depression, bank failure or a Argentine clusterbang. The point is that for thirty years we have been losing our manufacturing. It would have been fine had we chosen to base the economy on something else. We didn't, and now lack the resources to do it. truth be told, we are a nation of nostalgics. Look at us, we still drive on gasoline. Our buildings are faux-historic, we resist change. When our economy needed a fundamental change, we clung to what we could no longer have and to cheap things that we no longer made. Momentum has been good to us so far, but we can't throw our weight around anymore. If the United States had a population of ten million, the economy would have collapsed a long time ago.
Old 09-22-2008, 08:23 PM
Location: los angeles
5,031 posts, read 11,054,258 times
Reputation: 1477
I am quite concerned about the current economic crisis & how bad it is going to get. The word from WashingtonDC is that it will get much worse with people losing their IRA\ savings & more unemployment that could last at least 2 years. I worry about how serious this crisis is becoming.
Old 09-22-2008, 08:43 PM
Location: Chicago, Illinois
3,047 posts, read 7,965,994 times
Reputation: 1367
Slowly? lol...it's obviously by design. You have to ask yourself what is to gain by a populous that is dumbed down, apathetic, and has the attention span of a gnat?

lots! and lots and lots and lots! especially for those already in power...

the usa is filled with apathetic overweight nobodies. it's a joke and it saddens me to see. this is why i wish i grew up in the 60's. you better believe the good, REAL people, of the 60's would have taken to the streets over the Iraq "war" and the 9/11 inconsistencies, not to mention the so-called "Patriot Act aka put a pompous American prideful tag on it and nobody will notice it." it's like calling hell "heaven's gate." it's like sugar coating a poison pill.

bottomline is the american populous is despicable. and it's not really their fault because they have led down this path like a mouse in a maze. the sad thing is you ain't seen nothing yet. do you think this "housing market" crunch is by mistake? oh, please! look at how many billions of dollars worth of assets the government is gaining by default banking institutions. The bottomline is the Federal Reserve System should not be a private organzition and this is where some of the problem stems from. I always said the Nazis didn't lose the war, they just moved across the pond...

at the end of the day, i can't fault america for failing or going against the grain. why? because america would never be if they did not rebel from the king. so in that sense, all of this corruption makes 100% sense.

Last edited by At1WithNature; 09-22-2008 at 08:54 PM..
Old 09-22-2008, 09:14 PM
Location: Phoenix metro
20,005 posts, read 67,950,554 times
Reputation: 10048
Yes, its going downhill. Very fast, too.
Old 09-23-2008, 12:15 AM
5,619 posts, read 13,301,589 times
Reputation: 2880
We are 3rd World status. Rich get richer while poor get poorer. CEOs get money for bankrupting their business while their consumers lose property and posessions and become impoverished. Even Mexicans are leaving CA b/c of lack of jobs.
Old 09-23-2008, 03:05 AM
Location: Southwest Washington
2,316 posts, read 6,694,043 times
Reputation: 1689
Originally Posted by CarolL View Post
No, I don't think the US is slowly going downhill. I think it is quickly going downhill.
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