Are We In For Another Round of Recession?

AmazingP

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USA remains to be the only world superpower in terms of its military capability. However, if we look closely at its economy, it is experiencing some very rough rides due to mismanagement and mounting debts it can no more shoulder to finance.

Just yesterday, Standard & Poor's downgraded the country's credit rating from its historic AAA to AA-plus which is actually a notch lower. The rationale of this move is hinge on the country's mounting deficits and inability of the country's politicians to come into terms in finding solutions to its enormous problems.

Unfortunately, due to its global influence and pervasive influence, whatever is happening in USA would surely be affecting the rest of the world.

Will there be another serving of recession on the menu?
 

songbird

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It certainly doesn't look good. I am personally preparing physically, mentally, spiritually and emotionally for difficult times ahead. Being prepared with some extra money and extra food is a great way to have piece of mind. A while back we were struggling financially, We had some extra food stored up and I was so happy that we had it.
 

SDavis2702

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I don't think we're headed into another recession. I don't think the first one ever ended. In order to keep Americans from freaking all the way out, the media will make sure we feel certain ways. "Slow growth" and all of that mess was never happening. We have been in trouble for a long time and we will continue to be until monetary policy is reformed and greed is brought under control (won't happen).

As Songbird said, it's time to prepare. Actually, it has been time to prepare. The only thing I would advise, Songbird, is not to go crazy stocking up on "extra money" as we know it. Dollars will continue to be inflated to the point where you're spending hundreds for a meal. You'll lose of you stash trash (cash). You need gold and silver... real money! But yes... you definitely need the food storage as well as guns and ammo. I know that not everyone is into guns. But when things get crazy, people will revolt. When they do, your stash will become a hot commodity. As the survivors of Hurricane Katrina. You need to protect your goods just as the grocery still does.
 

Matt

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Yes, I would have to agree with SDavis on this one. I think we are still in a recession. Part of the reason is that Obama needs to stop the spending. How are we going to get out of this is we keep spending more and more money. America is sliding and we all know it. We need to just stop spending on worthless junk and let the economy re-build itself.
 

Cecil Estrera

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Well I just hope that the recession would never take place again. The last time it happened was really hard for us. My husband lost his job and we have to pay all the bills in the house. We became really broke then and we ended up living with my in-laws. Oh, I think I really have to prepare now so that those terrible things won't happen again.
 

zararina

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It was right that recession in the US had affected a lot of other countries specially those who have a lot of overseas workers there. They have lesser or sometimes no money to send to their families. The economic problem had resulted to more unemployed and underemployed people. The first recession have not been ended yet since the financial problems are said to be not fully resolved yet.
 

SDavis2702

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Exactly, you all. The first one never ended. Matt, I would be so quick to blame Obama. He has a load of problems, don't get me wrong. But when it comes to spending, I would blame the monetary policy in America itself before I blame one particular person. Though we are feeling the heat down here, there are people in the world (elite bankers) that are really benefiting from the way things are going. Unfortunately, those are the people that control this country... because they control money.
 

DeeNeely

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Exactly, you all. The first one never ended. Matt, I would be so quick to blame Obama. He has a load of problems, don't get me wrong. But when it comes to spending, I would blame the monetary policy in America itself before I blame one particular person. Though we are feeling the heat down here, there are people in the world (elite bankers) that are really benefiting from the way things are going. Unfortunately, those are the people that control this country... because they control money.
The entire system is at a bad spot. We can't prioritize our spending. Our infrastructure is falling apart and it is only a matter of time before something major happens. This is not based on some doomsday prediction from some leader. It is based on a thorough analysis of the current state of the American infrastructure by the American Society of Civil Engineers. http://www.infrastructurereportcard.org/

Everyone just better hope that the rising solar storm cycle doesn't happen too quickly.

We don't score above a C in anything. However, we have spent massive amounts of money building weapons and fighting wars. We can't prioritize.

The recession was created by these kinds of short-sighted strategies. It has been developing for decades and we are just unfortunate enough to the generation that this strikes hard. Obama didn't create and Bush didn't create it. The system created it and we have to pay for it.

I hate to tell people this, but unemployment isn't going to ever hit the same levels it did while the real estate boom was taking place. The real estate boom/crash was an artificial support for employment. Many people keep talking about manufacturing being the solution but they completely ignore the realities of the manufacturing industry. All the jobs didn't disappear due to outsourcing. Many of the jobs were lost due to increases in efficiency which are part of the cycle of innovation. Unless we deliberately through away technological progress those jobs aren't coming back.
 

SDavis2702

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The recession was created by these kinds of short-sighted strategies. It has been developing for decades and we are just unfortunate enough to the generation that this strikes hard. Obama didn't create and Bush didn't create it. The system created it and we have to pay for it.
I couldn't have said it better myself! I get a little frustrated when my Facebook friends post statuses about presidents in relation to the problems we face. It's not because I care of the presidents. Instead, it's because it leads me to believe that the American people are under the impression that a president is going to fix it. No, a lot of this is at the core of our legislation.

I can give one very specific example. Article I Section 10 of the US Constitution states that we should only be using gold and silver as legal tender. Well, we you paper money as legal tendor. Those dollars have no cap!!! At one point in American history, the Department of the Treasury was in control of issuing currency and it put a $300 million cap on the supply. At least we understood something back then... even though were using dollars. Now, we just print when we feel like it and wonder why our finances are out of order!
 

iebo

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Only the corporations came out of recession. The people never left it. We still have 9%+ unemployment (and that's just the official number- probably closer to double). Wages are stagnant, unless you're a CEO. Prices for the most basic necessities have gone up 10%, sometimes more. It doesn't really matter if we officially enter another recession, because the country never really recovered from the last one.