Are we heading towards a depression?
I keep hearing different things. One week it's: we are on our way to recovery! Another week it's: Greece could default throwing the world economy into chaos and the US economy into double dip recession!
Will the US economy recover in 2012 or are we headed for a depression and negative growth?
I think its the 'Aftershock' going into effect, after the recession.
May be the next global meltdown!
They don't call the Economics the dismal science for nothing! For years Economists have been warning global dominance in monetary holdings and "bubbles bursting" could cause chaos. The up/down is the media and the stock market doing the cha-cha along with the sound of politicians and world leaders. The issue at hand is who stands to benefit if there is a depression? Its hard to imagine that some entities may want a depression as it will be to their benefit if they can orchestrate things their way and the jockeying for position is what is being seen now. While the Economists disagree on what the proper methods are and well meaning and not so well meaning try to help things along (for the benefit of the many or for their own gain). Its hard to say where it will all lead. It's important for everyone to keep their heads on straight and do their part in a positive rather than negative way giving up or giving in to the mass hysteria is not the answer. Support and vocalize business growth of both small and large businesses (like it or not companies must be profitable or they don't need employees, if employees aren't needed there is no work and if people aren't working they aren't buying things...If Apple's iPad wasn't profitable there wouldn't have ever been iPhones and iPads...). Keep a positive step forward don't give in and hold back on living, working, hoping and dreaming.
Not sure about the US, but one thing is for sure; if the US gets a cold the rest of the world sneezes. Europe may under normal circumstances be better placed to avoid a recession simply because one happens in the US, because Europe has become less dependant on trade with the US than it used to be.
But the current economic problems seem to be worldwide and stem from debt. We will all recover from it one day, depression or not. And when we do we have to make sure that we don't go down this route again. That means governments have to be honest with voters and not try to fool them into thinking they can spend an ever decreasing tax take on more and more commitments. The public do not mind paying tax if they are getting the services they voted for. We should pay for them, not borrow for them.
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