Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

How important is the issue 'state of our economy' now that the US is in worst financial crisis since 1933?

Can you believe the headlines in the last 24 hours??

All this btw has been happening since yesterday when the stock market dropped over a staggering 500 points and the ripple effect being felt around the world.

Economists are ALL warning us this is a huge problem, it may be hard to get loans for cars, houses, etc. The state of the economy could get exponentially worse. People are being encouraged (not by economists, but by fear) to withdraw from the banks and sell their stocks, etc.

"Once in century kind of phenomenon!"

"This is the financial storm of the century!"

"Congress must recapitalize FDIC immediately!"

"1 trillion at risk, FDIC can only cover $50 billion!"

"Wall Street is now at the mercy of Washington."

So would you agree or disagree that the economy is the MOST IMPORTANT issue in our country NOW?

PLEASE ANSWER THAT QUESTION, AND THEN WHO IS LIKELY TO BRING THE BEST ADMINISTRATION TO WASHINGTON?

On the trail... latest from our future leadership...

McCain: Fundamentals of Economy Remain Strong

On the campaign trail, Senator John McCain said that the fundamentals of the economy remain strong.

Sen. John McCain: “You know that there’s been tremendous turmoil in our financial markets and Wall Street. And it is—people are frightened by these events. Our economy, I think, still, the fundamentals of our economy are strong, but these are very, very difficult time. And I promise you we will never put America in this position again. We will clean up Wall street. We will reform government. And this is a failure.”

Senator Barack Obama accused McCain of subscribing to the same economic philosophy as President Bush.

Sen. Barack Obama: “For eight years, we’ve had policies that have shredded consumer protections, that have loosened oversight and regulation and encouraged out-sized bonuses to CEO’s while ignoring middle-class Americans. The result is the most serious financial crisis since the Great Depression. And I certainly don’t fault Senator John McCain for these problems, but I do fault the economic philosophy he subscribes to, because it’s the same philosophy we’ve had for the last eight years.”

I posted two other questions on this in 'Current Events', includes a lot of good information and responses, one last night and earlier today...

Is American in trouble? Are bank deposits for once at risk?

http://answers.yahoo.com/question/index;_ylt=Api3D...

CRASH? Do you agree with Forbes? That the United States facing perhaps the worst financial crisis since 1933?

http://answers.yahoo.com/question/index?qid=200809...

10 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    Very Important !!! ... You should try to do some MORE research !!

    Republicans have NOT done ANYTHING without the Democrats SUPPORT !!!

    Isn't expecting the Socialist / Communist / Liberal / Marxist Democrats to correct what they have done to America for the last 65+ YEARS the equivalent of adding gasoline to an unwanted fire ? ?

    Democrats are TRYING to BLAME Republicans for the FAILURES of the Socialist / Communist / Liberal / Marxist Democrats of the last 65+ YEARS !!!

    Democrats have to recognize that since the 73rd Congress in 1933

    ... for a MAJORITY of THE LAST 65 YEARS

    ... Democratic Houses of Representatives and Democratic Senates have

    ... CONTROLLED the nation and the President.

    A TOTAL of 38 Sessions

    ... with Democrats in CONTROL for 28 of those!

    WE need to inform/TELL our political representatives that WE NEED TO PASS a Constitutional Amendment for the LINE ITEM VETO.

    This will keep the SPECIAL INTEREST GARBAGE from being attached to valuable legislation.

    If Congress wants to give the president that power, they will have to pass a constitutional amendment, Supreme Justice John Paul Stevens said. "If there is to be a new procedure in which the president will play a different role in determining the text of what may become a law, such change must come not by legislation but through the amendment procedures set forth in Article V of the Constitution," Stevens said, on June 25th, 1998.

    IF your special interest is SO valuable, why do you have to HIDE it in valuable legislation?

    So, with them REFUSING to PASS the Line Item Veto, in reality, the House and Senate have REALLY been controlling the country!!

    AND, with the CURRENT Senate and Congress having the WORST approval rating in HISTORY, hopefully we will see a LOT of changes after the general elections.

    A recent Reuters poll is out and Nancy Pelosi and Harry Reid have pulled an upset: They have managed to make George Walker Bush twice as popular as CONGRESS.

    RECENTLY - - JUST 8% of Likely Voters now say the DEMOCRATICALLY CONTROLLED Congress is doing a good or excellent job.

    Democrats generally believe in heavy fines for honest work, while rewarding sloth and indulgence.

    Do YOU think that people should be able to do absolutely nothing productive and get government hand-outs for sloth and indulgence - healthcare, tobacco, alcohol, drugs, STDs, etc. ??

    Do YOU want to have YOUR MONEY TAKEN from YOU and YOUR FAMILY to FINANCE these people ???

    .

    The MAIN, bad idea of Obama, that I believe ALL True Americans should research and READ is .. Obama's Global Poverty Act (S.2433) which will surrender America's sovereignty to the United Nations !!

    I .. HAVE .. and .. WILL .. Vote for the BEST person for the job !!

    JUNIOR U.S. Senator Obama is NOT the Best person to be THE President of THE United States of America !!!

    .

    Why would WE want ANYONE that does not have ANY mangerial experience to TRY to be THE President of THE United States of America ???

    Can YOU get over the FACT that JUNIOR U.S. Senator Obama IS going to turn over the sovereignty of the United States to the United Nations ???

    ALL ... TRUE Americans need to READ the Global Poverty Act (S.2433) !!!

    .

    Governors MANAGE ENTIRE STATES !!!

    JUNIOR U.S. Senators TRY to Legislate !!!

    JUNIOR U. S. Senator Obama did NOT complete his FIRST term in office !!

    ... with just 143 days of ACTUAL experience

    ... HE decided

    ... that he DESERVED to be THE President of THE United States of America !!!

    .

  • 1 decade ago

    So would you agree or disagree that the economy is the MOST IMPORTANT issue in our country NOW?

    You must be kidding because the bad American financial situation seen from outside (Europe) is getting REALLY serious. Lehman's bankruptcy must be the largest failure of an investment bank since I don't even know, it was founded in 1850, not yesterday, and now it doesn't count a cent. (Even worst than during 9/11) I mean how can you explain that lots of banks are filed for bankruptcy? So this is not a small sign of what's going on over there... I guess Capitalism time is getting over. Sub-prime mortgage crisis is a huge proof of a bad government and bad financial policies; I mean people who were in charged of checking or taking control on what was going on, where were they? I am not saying that economy is not getting better and I don't think it would happen soon, because Yes people Economy or in other words MONEY makes the world goes that you like it or not! Besides I think American Supremacy is in danger, and the beginning of this was 9/11, I haven't seen a superpower being more vulnerable. They wanted to destroy the financial symbols (Twin Towers)? well now American Economy is being attacked too. So when you vote ''REMEMBER to take the right decision'' whatever it is!

  • Anonymous
    1 decade ago

    McCain has stated numerous times that he does not understand the economy as well as he should. He also has a history of ignoring advisors or just going with the most recent idea. Most, if not all, of his staff is lobbyists and they certainly don't have us as their priority. He does not know what it is like to be poor and unable to pay the mortgage or buy food. I think he is dangerous.

    Many financial geniuses have stated that Obama's plan is the better for us (i.e. Warren Buffett).

    Do a little research and it seems that McCain is more of the same.

    Typically, Republicans promote lack of oversight and I feel that more of the same, less oversight will just make it worse.

    In the end, all I can say is learn to grow a garden, you may need it to feed the family.

  • The writing has been on the wall -- we have been headed for economic meltdown .... and now here it is.

    Where was SEC ?? - whose mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

    How did Republican Phil Gramm persuade congress to support and Clinton to sign a bank deregulation act ??

    Americans need to ask more questions of their government not just accept some broad stroke as McCain has put a spin on.

    BTW, Phil Gramm is McCain's pal and campaign finance manager that said that we were not in a recession and that it was all in our heads -- that intstead of mental depression we had mental recession

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    It will be the major issue defining the elections. Try as they might(mccain/palin), I for one, do not think that they will be able to distance themselves from the republicans and the president and run on the change,outsider,maverick image. When people go to vote they will see only D's or R's and maybe I's

    Source(s): Years of watching the republicans F things up.
  • 1 decade ago

    Personally, considering that I have to choose between buying gasoline to go to work and providing a nutritious meal for my children, pretty darned important.

  • 1 decade ago

    It is the most important issue in this election. The Iraq war is a close second.

  • Anonymous
    1 decade ago

    McCain is so out of touch with America!

  • Anonymous
    1 decade ago

    The economy? What's that?

    We have to concentrate on abortion and gay marriages (oh and drill, drill, drill and more tax breaks for the fat cats)

    Tchah!!

  • our economy is of no importance what-so-ever. we have no control over our economy. our economy (& our military) is controlled by the multi-billion $$$ corporations & always have been.

    have-a-loving-day!

Still have questions? Get your answers by asking now.