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Recession or Depression?
Not wanting to sound like a doom-sayer, but as a realist, I think the US economy is spiraling.
Protecting markets and “consumers” from the truth of how bad our economic reality is will backfire. We do not need to “panic.” But citizens do need accurate news and analysis to get ready for the potential of a radically diminished economy. We are living in a time of unprecedented planetary crisis. People need to prepare physically and psychologically for massive changes.
How bad do you believe it really is for the US? Rampant consumption, addiction to growth, and failure to accept limits to growth damage and over-consumption drives the increasingly extreme and chaotic climate.
We have contaminated our air and waterways, clear-cut our forests, and our inner cities are dying. The pollution of such natural resources often preceeds economic and societal collapses.
3 Answers
- john cLv 41 decade agoFavorite Answer
I don't understand the mechanics of economics apart from the fact our own in UK is worse than they let on. One bank has collapsed with the tax payer forking out for the deficit? So, when banks which are institutions fold or lose money then no one is safe?
- silverbulletLv 71 decade ago
As long as everyone keeps their head, the economy can keep on chugging along, even with credit and oil price issues.
If everyone panics and stops spending, THEN we'll have a problem. "Getting ready for the potential of a radically diminished economy" as you put it, is generally the CAUSE of recessions.
Just keep on believin' and everything will be fine.
Source(s): degree in Economics. - JamesLv 61 decade ago
I find that the pain of reality only occurs when expectations were greatly in excess of actual. If you are overly pessimistic, it can be self fulfilling....
So long as people believe in hype, the spiral will not be so rapid. When belief and credibility is destroyed, that is when it is best to anticipate the worst. When you anticipate the worst, the losses you actually make do not seem quite so bad!
