Are we in an economic crisis?

Discussion in 'Economy' started by Uknow_me72, Oct 7, 2008.

?

How Real is the Economic Crisis to you...

Poll closed Oct 17, 2008.
  1. Very, The Market Might Collapse and we would be in doo doo....

    2 vote(s)
    18.2%
  2. I haven't changed a thing in my daily routing, I guess it wasn't enough. My Bad

    7 vote(s)
    63.6%
  3. I don't think that there is a economic crisis, the government and media contrived it.

    2 vote(s)
    18.2%
  4. Don't know....

    0 vote(s)
    0.0%
  1. Uknow_me72
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    Uknow_me72 Member

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    I am just trying to ask. How real is this economic crisis to you?

    If you are like most people. Nothing has changed in your life. You go to work. You buy things. Pay your bills. Taxes come out of your pay check. Nothing has changed in your life but some how the economy doesn't work.

    So if nothing has changed in your world. Who's has it changed in to cause the stir in the market?

    Do you think about the status of the market and check the news about it once a day or hear it on some news program you watch.

    Is it really that easy for the media and PTB to say we are in a crisis and spam it every where and tell the American People that we have a problem? If they mention it enough times it will finally sink in.

    So what is your take. Did nothing change for you, the way you been doing business as usual and this problem just occurred?
     
  2. Bern80
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    Bern80 Gold Member

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    It could be for some. It won't be for everyone. If the credit market really does end up crumbling, than those peolpe dependant on it will be hurting and possibly to a lesser extent those indirectly impacted from the need for credit. Those that carry little to no debt, I believe will probably be able to ride this out.
     
  3. Zoomie1980
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    Zoomie1980 Senior Member

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    Even during the Great Depression, it affected only about one in four Americans, daily. 75%, even then, were employed and paying their bills. Over 90% of us are largely unaffected by this one, so far. Many of us have seen paper losses but unless we sell they are not actual loses. We are still employed and pay our bills. For many, things are actually pretty good. Gasoline is down under $3.00 in many places, food prices are down 10% or more from their peak, interest rates are at an all time low, and if you can afford to buy a house, you are going to get one at an outright STEAL in some places.

    But if you are employed by one of those firms who can't borrow to meet a payroll, then you are in a pickle. If you are among those low skill, manual labor folks that companies typically shed when times get tight, they you are in a pickle. And finally, if you are retired and living off a private retirement fund largely invested in stocks, then you are in a pickle. But that is fewer than 10% of us at this point
     
  4. Uknow_me72
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    Uknow_me72 Member

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    Now is a fewer then 10% but those 10% count also. They still have rights and are equals to us all. That number will grow more until it hits the lower end middle class. That is really when you will see alot of complaining and the heat rise on this issue.
     
  5. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    Even if Wall Street burns, another system of buying and selling will rise from the ashes. People have to eat. Companies that were worth owning a part of a month ago are still worth something. The forklifts and factories will still be there. Eventually, the bleeding will stop and healing will begin. Even if the Union breaks down, Americans are clever and won't live in caves any longer than is absolutely necessary.

    Keep doing the best you can and try to create opportunities for yourself and your friends... Wal-Mart may not sell quite as much cheap Chinese crap this year, but Christmas will come.

    -Joe
     
  6. Richard-H
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    Richard-H Gold Member

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    There has been a long slow insidious economic collapse of the middle class that's been going on for years.

    The current crisis is just the final product of a long degeneration of the economic status of the middle class.
     

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