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Economy crash

Just wanted peoples opinions on what they think will happen when the economy crashes. I personally beleive we will all go crazy and start a huge war.

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Answer #1

First of all the economy isnt going to crash, we have already seen the reaction of the mortgage crisis, which is about a 17%-20% downward adjustment in the value of stock for the time being. We should NOT pass this bailout, let the people who made money loaning money to people who could not afford their big house lose that money, and let the people who lied when they stated their income lose their houses, they should never have gotten them to begin with. We should not send the message that people who lie and try to take unreadlistic profits will be helped when the bubble burts. The economy will recover fine, and businsses will learn that they should not give credit to people who can’t afford to pay a loan back,. Did you see the market went back up some yesterday even when they didnt pass the bailout? We will be fine, this is not a crash, people have not lost everything, and we should not panic and pay for other people’s mistakes.

Answer #2

The economy will not crash. I see this financial crisis as a blessing more than a problem. The markets are simply correcting itself. And this is good.

People believe that the US Economy is crashing. However, why is it that the British Sterling Pound has lost 19% of it’s value in the past 10 months against the US Dollar? And the Euro, 14% reduction of value against the US Dollar? Why is it that American exports and productivity are at all time highs?

I do not deny the fact that we are in some serious heap of trouble. But did we not bail ourselves out of the Great Depression? THe American economy is and has proven to be resilient. If you want to point blame to someone for the credit crunch. Don;t blame President Bush. It was the banks who exercised poor judgement in handing out loans to people who clearly knew that they could not afford to keep up with payments. Wall Street is now placing the burden on Main Street.

Unlike what all of you would like to believe, the US so far has avoided a recession with no contraction of it’s GDP to speak of as of yet. The same cannot be attributed to the Euro Zone which by economic standards, is now officially in recession.

Put “spin” and doom it if you may, but I will stick to the facts before I conclude that the economy is indeed collapsing as all of you want to believe.

Answer #3

Ok, so since the economy is exploding and there’s no cash, America is going to land itself further into debt by spending on another war! Spot on! -.-

Answer #4

the economy is crashing… and uhm there’s no money to start a war…

Answer #5

It would be a good thing to turn this economic mess over to people who understand business and money…Steve Wynnn, Warren Buffet…even Donald Trump!! Every time I hear one of these Congressmen talk about stockmarket, the economy, the “fixes”…and point fingers at one another I cringe. They don’t appear (or sound like) they have any more knowledge about what’s happening to THEIR money, as I do mine…maybe even less…and definately don’t have enough knowledge to know how to fix it.

phrannie

Answer #6

I very much doubt these economic problems will start a huge war.

Answer #7

Too many wars all over. But I’ll admit wondering about it can make you scared.