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What is your opinion? Are we just facing a slowdown, or do you think we are in a recession?
If you do, why do you think so, and how severe do you think this recession will be?
If you don't, why don't you think so?
As for me, I'm not really sure. Yes, we lost 17,000 jobs (unrevised) in January, and the service sector has been contracting, but at the same time the manufacturing sector has (barely) been expanding, exports have been growing, etc.
Individually, the people won't experience the recession as most people are as stable as they would be either way, and spend/save/borrow will stay the same. As a government, 5 of the 9 trillion dollar debt is to people who hold treasury bonds, savings bonds, Government securities, and such. So, it's really not as bad as it sounds, unless everybody does a margin call on the government all at once.
Individually, the people won't experience the recession as most people are as stable as they would be either way, and spend/save/borrow will stay the same. As a government, 5 of the 9 trillion dollar debt is to people who hold treasury bonds, savings bonds, Government securities, and such. So, it's really not as bad as it sounds, unless everybody does a margin call on the government all at once.
The problem is not so much that we have 9 trillion in debt,our GDP is about 13-14 trillion and as a ratio its nowhere rear as bad as during WW1 and 2,and some other times in our earlier history,the problem is who we owe it to,notably China,Japan and the Shieks,we have previously owed large sums of money to foriegners (Britain and France),one to build the western railroads,the other to finance the revolution,good things,and both countries wanted us to suceed in our endeavours,today we owe because we are gluttons and consume on a scale that is unsustainable and borrow from people who wish us harm!
I'm really surprized that people are still debating the recession at this point because it seems obvious to me that we're definitely in one. But I guess nobody wants to hear bad news.
I agree with that for SO many reasons....too many to list at the moment (I'm off to work in a few). My finances are fine and while I know that's not an indication of what the rest of the country is experiencing, I can honestly say I have not felt the impact of this recession. Now are we on the verge of one? Possibly. Are we in one now? No.
I agree with that for SO many reasons....too many to list at the moment (I'm off to work in a few). My finances are fine and while I know that's not an indication of what the rest of the country is experiencing, I can honestly say I have not felt the impact of this recession. Now are we on the verge of one? Possibly. Are we in one now? No.
We are in one and face many headwinds,continuing house price deterioration,slowing job market and more importantly(you'll notice this if you food shop) rising inflation,due in no small part to the governments energy policy,i.e. Ethanol.Helicopter Ben will not save us by lowering rates,printing money only stokes the engine of inflation!Government BS's us on CPI index because thats what entitlement programs like Social Security are pegged to.
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