The Economy Crisis

Well as many of you may know, our economy is not doing so well, and we are on the verge of a recession. Post what you think about it here.

well........ my fam and school has bascilly talked aboutabout this alot how banks are bankrupt because they gave so many loans and they keeped forclosing on them yada yada and now realastate is going down because people cant get loans for there houses because they dont have perfect credit which means they dont but the houses and real estate dosent get money because of that they try to lower the money yada yada and yeah i think we basiclly aready are in a ressecion so yeah thats what i think anyways...................

We're in big trouble....

The banks kept loaning out money to people with poor credit. The banks expected that the people couldn't pay for their homes, and therefore the banks could remove it from them, and sell it for more money. This "Smart" plan backfired though because the cost of living is going up and the property value is going down. The banks are out of money and don't have any more money to lend to people who actually need loans.

STOCK MARKET: I don't know how many of you follow the stock market, but DOW went down 780 points in the course of 6 hours today (10 a.m - 4 p.m). This is really bad, because this is exactly how the Depression started. Also, now that we are in the middle of this whole ordeal, the japaneese companies that have money invested in the American Economy are begining to pull their money out, and that makes people panic. In turn, the american people are pulling their money from the stocks that they own, throwing off the whole economical balance.

Sure, the government COULD bail out the banks, but at what cost? The 700 Billion Dollar bail out plan was rejected by officials in Washington today, and that means that there won't be any bail out by the government. The banks are screwed now, and many people are losing their jobs, homes, and possessions.


My Dad came home today and said that his company was laying off a bunch of people. I hope to God that his job doesn't get taken away...this is terrible...we're on the verge of another Depression, and like George Bush said in his latest speech- "If not rectified immediately, this economical crisis could reach the degree of the Great Depression."

This crisis was not rectified, and i have no idea why. The officials in washington vetoed a plan to help our economy, even for a little while. We NEED change right now, i hope that Obama wins this thing, because i've heard McCain say that anyone that makes under 5 million dollars a year is middle class....and yet he continues to accuse Obama of not understanding the common person??? McCain has numerous houses, but Obama knows what America NEEDS right now. If Obama does not get elected, then i'll lose complete faith in my government and my country because that shows that the system doesn't work.

Please God make this go away....

You know I can resist posting about Obama....lol But really this economic crisis is no laughing matter. Everyone is suffering from this crisis in one way or another. We do need CHANGE in the next president. Thats Why I hope Obama does become President. I too will lose faith in my government if Obama is not elected. John McCain speaks very general about the middle class. I love the new Ad by the Obama camp entitled "Zero". It show thats John McCain didn't even speak of the middle class NOT ONCE during the debate. John McCain has even said that the Fundamentals of our economy are strong. John McCain doesn't get it. There is no other way to say it. But my thoughts on the bail out is that i won't work. Many people in Congress know that it won't work but they know that something has to be done. The sad thing is that When people on Main street are in their own crisis there is no government bail out. But I will just say that I hope that no one loses their jobs. But times are hard. Its disheartening to see that the American people are being urged to save 3-6 months worth of money to get by just in case. But I don't understand how the average person can save 3-6 months of bills if they have a hard time paying for the bills they have now. But We will see how all this plays out.

Ok first of all I had NO IDEA that the US is haveing a economy crisis. Well I'm just going to think postive and hope that things will turn out for the better when Obama becomes president.

Yes.. I think we have to all think positive but be realistic at the same time. Many Americans young and old will be and are being affected by the economy. But the American people are strong, we have faced many hardships and have over come them. We have done it before, And we will do it again.

did anyone metioned about america owing billions of dollars to china and other countrys if you did im sorry that i was to lazy to read your post lol

yeah, we owe soo much money to all countries...

How come we owe money to countries and what happens if we don't meet the dead line of our national debt?

we owe money because our government borrewed money for the war and other things and if we dont pay back our money the other country bascilly takes over

Oh crap take over you serious. And thanks for explaining.

np man

They don't take over but I will have to find some links to prove it.

Well you don't really HAVE TO prove it. But you can if you want, and I belive you anyways.

Well, my dad might lose his job.. he said that there were some major cuts at his office. he said that nobody's job is safe right now, so wish us luck...

i wish you luck that really sucks but hopefully you get through it

thanks anger, i really hope that he doesn't get fired because then we'll have to move