Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

Is the US economy about to collapse ?

The dollar is on a downward plundge

The debt is massive

The sub prime morgadge fiasco is now taking out major lenders and needs help from the taxpayer - (more debt)

Natural disasters seem to strike with increaseing severity and frequency - costing billions in dollars and uncountable sums in humans lives

Is the US going to be able to sustain a worthless dollar as China and others purchase more and more of the US -

The US spends borrowed money on foriegn policys (Iraq)

The average person is becoming more and more likely to lose their home and job (less tax revenue and more demand for it )

Is the economy of the US about to collapse ?

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  • 1 decade ago
    Favorite Answer

    Well, it is possible, but it's happened before and after a big huge ol' crash, the Americans who had their heads stuck up their you know wheres pulled their heads out and started working to improve things.

    As long as people still drive gas guzzlers, as long as they continue to buy crap that doesn't mean a thing with Chinese or other foreign labels on them (Can you say Toyota?), and as long as they stop infecting their foods (salmonella in tomatos and bell peppers) we will have trouble.

    It's time for Americans, Chinese, Europeans, and the rest of the world to realize we are lining the pockets of speculators and oil barons.

    We should stop that crap, buy a stupid fan, buy a reasonable American built automobile, and plant a garden, or a tree.

    The economy and the environment are both battling each other. Hear lately the environmentalists are saying "NO" to drilling for more oil because of the ***chance*** it may harm the environment... not that it most assuredly WILL, but that it MAY... Then there is the talk of effecting coastal businesses, but again, the technology is good enough, if all the safety and environmental measures are followed there is no problemo, right?

    It's getting bad because no one wants to bend a little, they expect the next guy to do it for him.

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  • Cindy
    Lv 4
    4 years ago

    Ah, NEWS FLASH. It already has. Just because people aren't lining up outside soup kitchens as of yet, doesn't mean they aren't on the brink of doing so. The US economy failed long ago, when the DOW jones went below 10K that was the beginning of the end. America has sold out their own people at the behest of the Jewish people who run our cabinet and our president. Obama is only a propped up puppet and a talking head for the policies that don't work and won't work in the long run. The crisis in the Middle East could have been solved decades ago, look at how we have the strongest military in the world, and we throw our weight around everywhere else, but still continue to let the Jewish people of Israel decide where our military dollars go. Just look into this and you will see the truth is painful. The real evil lies within the minds of the Jewish race. I have said it before and I will say it again, look into this elsewhere and with an open mind and you will realize it is not for no reason we are in such economic straights.

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  • 1 decade ago

    To be honest, I don't know. I expected the DJI to be around the 2003 levels by now and it has not happened despite everything. Frankly, I am quite amazed at the resilience of the market, and I think it's been buoyed by all the foreign investments propping up giants like Merril Lynch from the developing nations in the East.

    I have no doubt that the DJI will go below 10,000 this Summer - nearly all the forecasts are predicting it, and if/when it goes below 8000, that will be the turning point - a collapse of the market or a rally. The US economy is in serious trouble - there's no doubt about it - but as in the years past, it might stave off a collapse by borrowing from other countries again. Somehow, I doubt anyone would be mad enough to lend Americans money this time after the sub-primes frauds, but you never know.

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  • Probably. At least, I believe it is. This is what happens when you take away REAL money and substitute worthless dollars. Then on top of that, anytime a large corporation gets in a jam the Fed prints billions more and pumps back into the economy, effectively stealing from every American that has any money whatsoever.

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  • 1 decade ago

    At any other point in my life I would have said we can just ride this out and everything will be alright but this time, we are so entwined and reliant upon the rest of the world that I don't believe even our government is aware of how to fix it without causing global chaos economically. I have never seen everything in such a strange state and I have no confidence in our government to fix things. It just seems as if they are selling out our country as quickly as possible.

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  • 1 decade ago

    According to many predictions and resources unfortunately it seems v likely. It is very worrying as we already have an economic recssion here in Ireland. I am currently reading an excellent book about it called 'Futurecast 2020' by Robert Shapiro. He predicts China becoming the world's economic power in the coming years. It's worth reading.

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  • Anonymous
    1 decade ago

    It would be a fitting end to 8 years of not only a Republican president, but probably the cream of the crop worst one America has ever seen in it's history. Definately the dumbest.

    Kathryn P- You need to do some research. Toyota builds just about all of the cars they sell in America, in America. The rest are built in Canada. Meanwhile, Dodge is having it's Ram trucks assembled in MEXICO by cheap sweatshop labor. Probably why those trucks are so problematic.

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  • Anonymous
    1 decade ago

    Its like the Perfect Storm....Its all coming together, yet is seems that Washington is caught like a deer in the headlights, completely incompetent. Yes our economy is headed for some bad times and maybe even collapse.

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  • jdw
    Lv 6
    1 decade ago

    Everywhere I look I still see huge gas-guzzling SUV's and their occupants speeding off to the nearest shopping mall and loading up. I would say no. There seems to still be a lot of money out there.

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  • 1 decade ago

    the econemys been in a down fall for a while now cause where in a recession a the time that right before a depression so lets hope our next president can clean up the mess president bush started

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