When do you think the economy will return to normal?
79- glass etching
- 3 posts
- Joined: 5 months ago
- Hubs: 4
- Followers: 0
I know it takes time for the economy to return and you never know how long it takes to recover, but this is just kinda a poll to see what everyone thinks.
Even though almost none of use are experts and the real experts can only guess; When do you guess the economy will recover?
I thought this would just be interesting to see what everyone thinks. Leave a quick post (or a long one if you desire)....It has already recovered somewhat.
See a bit of a pullback in September and October it will grow further, make sure you don't miss the bus.
Jobs will follow July next year.- Scott.Life
- 1298 posts
- Joined: 4 months ago
- Hubs: 0
- Followers: 279
When consumers and businesses turn off CNN and stop hearing about how bad things are and get over their fear and start spending again things will pick up.
From a financial standpoint all the resources for recovery are in place and waiting. Honestly the money never went anywhere, it's still there in the economy its just not being circulated and spent. Much as the depression of the early 30's was fueled by fear so has this one. What I want to know is why with the amount of money Obama put into the stimulus, he simply didn't give the 300 million Americans, a million dollars a piece. That would have left another 400 million to prop up banks. Instead money was given to the auto and banking industry , two institutions who have proven time again that they are incapable of wise financial management and oversight. Giving the money to the citizens would have allowed people to clear out doubt, buy new homes and cars and boosted spending tremendously.We are still going to pay for it though. I never got a dime from the government over the last 5 years. Yet I will have to pay off the debt same as you.
It seems to me that this government really had no desire to help the common working man recover or be free of debt. There's no money in it for them, no profit. Look how much banks are prospering just from all the overdraft fees.I think it's turning back to growth in most places already, but soon we are going to be having another problem, one that was beginning to show just before the credit crunch. As formerly very poor countries continue to grow very quickly , especially China and India but others too, there will be more and more pressure on the prices of basic commodities. Pretty soon after the recession has ended we will go back to high price inflation, initially on food and oil but then extending to other things. This will mean that even with an economy in growth many people will feel like they are getting poorer rather than richer.
86- SparklingJewel
- 1330 posts
- Joined: 2 years ago
- Hubs: 48
- Followers: 266
glass etching wrote:
I know it takes time for the economy to return and you never know how long it takes to recover, but this is just kinda a poll to see what everyone thinks.
Even though almost none of use are experts and the real experts can only guess; When do you guess the economy will recover?
I thought this would just be interesting to see what everyone thinks. Leave a quick post (or a long one if you desire)....I don't want it to return to normal! if normal is the way it used to be.
We need BIG change in our economy...common sense and ethical reasoning and care for others is greatly needed. The lack thereof is the core problem in all situations. We need a "Golden Rule" economy.
We need a sound monetary system, where others do not artificially control inflation and can print money whenever they want to suit their own purposes at the expense of the majority of the population.
94- Misha
- 11226 posts
- Joined: 2 years ago
- Hubs: 18
- Followers: 1924
If by normal you mean crazed out borrowing and lending, I would say never
96- Nelle Hoxie
- 1814 posts
- Joined: 10 months ago
- Hubs: 257
- Followers: 454
About six months. Misha the bankers and wall street types are already working on designing new unregulated ways to borrow and lend to the American consumer. Guarantee it.
97- Mark Knowles
- 11268 posts
- Joined: 2 years ago
- Hubs: 266
- Followers: 2344
Nelle - you are wrong. We are nowhere near bottom yet and we will not be returning to "normal," any time soon.
- 96
- Nelle Hoxie
- 1814 posts
- Joined: 10 months ago
- Hubs: 257
- Followers: 454
Maybe that's why I'm so depressed today.
- 97
- Mark Knowles
- 11268 posts
- Joined: 2 years ago
- Hubs: 266
- Followers: 2344
Nelle Hoxie wrote:
Maybe that's why I'm so depressed today.
Sorry to hear that. But let's face it - the last 15 years was pretty messed up and we need a change. For once I agree with SJ
93- readytoescape
- 838 posts
- Joined: 5 months ago
- Hubs: 38
- Followers: 93
I agree with Mark, to many negitives are still to hit the economy, pending tax legislation particularly Cap in Trade will skyrocket pricing and continuing unemployment and foreclosure impacts are not even close to peaking.
Mark Knowles wrote:
Nelle - you are wrong. We are nowhere near bottom yet and we will not be returning to "normal," any time soon.
I understand there's going to be another housing bust. This caused by all the formerly employed people who can no longer pay their mortgages. These being the people who are the latest victims of this down-turn. We have a long way to go yet.
That this happened again galls the hell out of me. There are a lot of guilty people involved too. None of whom seem to be suffering as much as those of us who had little or nothing to do with it*.
I freely admit that this latest downturn caught me completely by surprise. I thought there enough regulations in place to prevent another fiasco like this. Apparently not!
All I can gather from this is that there is no limit to greed or sociopathic attitudes when it comes to making money.
* I refuse to use credit and as a consequence have nothing to do directly with real-estate. The last economic downturn about a decade ago convinced me to "get off that bus."- 97
- Mark Knowles
- 11268 posts
- Joined: 2 years ago
- Hubs: 266
- Followers: 2344
Liam - after the commercial property bust that one will come. The 5 biggest US banks are currently teh biggest property owners in that country. The same in Spain - 4 banks own more property that anyone else.
If anybody thinks all this bailout n=money is going anywhere other than to support that - they are sadly mistaken.
If all that property was on the market and market forces set the price - every American would be able to afford their own home.
And nobody wants that
I was lucky enough to have seen this coming and got out of US property in 2004, and UK in 2006. We are nowhere near done ...... 
96- rebekahELLE
- 1821 posts
- Joined: 4 months ago
- Hubs: 20
- Followers: 189
can someone define normal?
the same people that got us in trouble are the very same people who are doing it again, with the housing market~glass etching wrote:
I know it takes time for the economy to return and you never know how long it takes to recover, but this is just kinda a poll to see what everyone thinks.
Even though almost none of use are experts and the real experts can only guess; When do you guess the economy will recover?
I thought this would just be interesting to see what everyone thinks. Leave a quick post (or a long one if you desire)....I don't think it will ever pick up. I think that the middle class will become dirt poor and all the same stuff will all start over again. I don't think the economy has ever been good. I guess it depends on what you think is good, but it has never been good enough. Only for the ones who have been rich all of their lives. I think the ones who have lots of money are the ones who think that the economy is picking up.
I have educated people in my family who struggle with low paying jobs. I think unless you have a product that everyone needs and will always buy, then you will probably be somewhat struggling too. If you have a product that everyone wants to buy and you have it manufactured, then you would have to be rich in the first place to even get to that point.
This economy stuff is a joke. I hope the economy doesn't return to 'normal' or it will still be a joke.rebekahELLE wrote:
can someone define normal?
the same people that got us in trouble are the very same people who are doing it again, with the housing market~I can say that this is my definition of normal....worthless.
Mark Knowles wrote:
Liam - after the commercial property bust that one will come. The 5 biggest US banks are currently teh biggest property owners in that country. The same in Spain - 4 banks own more property that anyone else.
If anybody thinks all this bailout n=money is going anywhere other than to support that - they are sadly mistaken.
If all that property was on the market and market forces set the price - every American would be able to afford their own home.
And nobody wants that
I was lucky enough to have seen this coming and got out of US property in 2004, and UK in 2006. We are nowhere near done ......I often agree with you Mark, but this is the one time I wish I couldn't.
I do believe that "If all that property was on the market and market forces set the price - every American would be able to afford their own home." would likely be the very best thing for jump-starting and keeping this economy going.
I also received, via email, an unlikely proposal, a joke really, that would have had the U.S. government give every fifty plus year old in the country (U.S. of A.) one million dollars with the provision that they 1) buy a house and 2) buy a car. Anything left of the million to be spent as the recipient desired. As silly as that sounded it would have cost less than the current efforts and actually worked in restarting the economy.rebekahELLE wrote:
can someone define normal?
the same people that got us in trouble are the very same people who are doing it again, with the housing market~F.U.B.A.R.?
*cough* Fouled Up Beyond All Recognition?glass etching wrote:
I know it takes time for the economy to return and you never know how long it takes to recover, but this is just kinda a poll to see what everyone thinks.
Even though almost none of use are experts and the real experts can only guess; When do you guess the economy will recover?
I thought this would just be interesting to see what everyone thinks. Leave a quick post (or a long one if you desire)....Just wanted to share this with you. Many (many) years ago I worked for an engineering firm. They designed and marketed computer equipment to/for the U.S. military. Every morning started with a lively discussion of the day's planned events, some observations about the previous days efforts and some techie jokes.
One of the engineers asked me if I knew the definition of expert. I told him what I though it was and he corrected me with the following.
Expert: Three lucky guesses
Expert: Ex as in "has-been"; "spurt" as in drip.
I laughed my arse off.
95- Jane@CM
- 1614 posts
- Joined: 6 months ago
- Hubs: 30
- Followers: 178
I think after the November deadline the $8,000 credit to new home buyers, that the housing market will sink again. Right now people (here in the cities) are stumbling over each other and multiple offers are very common right now on homes. The ever so smart home seller & Realtors have been "smart" too, by increasing their home price by $8,000, if not more, but keeping it at the cap.
I have seen a price increase across the board at the grocery store over the last month. Generally after Labor Day gas prices go down, they've either stayed the same or have increased.
School supplies & school clothing costs were unbelievable this year.
We are on a strict budget - as my husband was recently laid off. I feel fortunate though, we follow the no credit card rule in our home, so we have no debt, except the mortgage & normal monthly utility bills & insurance (oh I forgot, the biggy, college tuition).
I don't see the economy turning any time soon. I think we'll continue to see a rise in prices and people will continue to cut back on spending.
