US economy going down? Will it recover? - THE US Financial Crisis.

[vienzel]

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probably, it been all over the news about US economy having hard time these days....its been receiving blows and hits for awhile now. recently, Fannie Mae and Freddie Mac who are big firms involved in mortgage loans to be more affordable across america, even reduces housing cost etc... is now being controlled by the federal govt. they used to be independent in its position before, but the company cant stop the inevitable so......mao na ni!

Do u think its really going down the drain? they have corruption too but very subtle...they know how to make it discreet. job cuts has been made, budget per state were reduced and taken out to help the federal govt. etc...prime commodities has not gone down yet and the gas as well. a lot of people feels the TRUE PINCH now

what do u think....everyone is invited to share their opinion wherever we are in the world!

thanks.

[AMD_infinium05]

not just the us... but the global community is experiencing crisis.

[mo0nstar88]

agree. i think not only us

[vienzel]

that's gud opinion point taken for sure. if its global then do u think this will linger longer? wud the world be able to regain balance or should i say....even just relative balance sa economy man lang?

[Dorothea]

I hope so, vienzel. As someone here has said, everyone's feeling the pinch. Even some multimillion dollar homes have been foreclosed. So many people are losing their jobs. It is honestly really scary.

[LytSlpr]

The economy may be going down but not necessarily the country or government. America is still the world's super power regardless of what people say about China's potential.

[Vince Russo]

I had to look at the date of this topic... The US economy is much healthier now. The Dollar is at a 7 month high, and oil is in the $100 zone and dropping... The US economy, like all others, experiences troubling times now and then. But "going down?" - No way.

[EZRA]

I had to look at the date of this topic... The US economy is much healthier now. The Dollar is at a 7 month high, and oil is in the $100 zone and dropping... The US economy, like all others, experiences troubling times now and then. But "going down?" - No way.

I guess you really don't know what's going on bai.

Banks are in trouble (and that includes the big ones like Citibank, Wachovia, Wamu, etc..), and some banks are even closing or has already closed.... the 2 largest mortgage firms are being bailed out by the taxpayers' money .. the credit card companies are in deep crap... real estate are almost at record lows with houses costing as much as 30% lower that what they used to be... unemployment rate is at near recession level... and you still think we're doing good?

[EZRA]

Vienzel: people have been feeling the hurt for a year now. If you look at the market graph of all the financial establishments for the past year, you'd see a gradual dip from most of them.

Did you hear about INDY MAC (a large regional bank in Cali) closing over a month ago or so with people lining up the banks trying to take their money out?? Did you know that Wachovia sold their midtown Manhattan building at a 40 million loss. An, did you hear about BEAR STEARNS a few months ago?

Now think about this... with the government bailing out Fannie and Freddie, who is left to bail out the other financial institutions? More financial institutions are going to fall.. at least that's what I think.

[Vince Russo]

Yes, Ezra, I DO know what's going on.. The topic asks, "US Economy Going Down?" "Will It Recover?".. I took "Going Down" to mean "collapsing", not "in a temporary decline".. So, if YOU knew what you were talking about, you would agree with my previous post. The Dollar is UP, and that's a FACT. The US economy is not on the verge of collapse. Recovery will be gradual, but it will occur. Watch the financial news every day (I do).. The Dollar is up, and the Euro and Pound are down. Recovery from recession takes time... Give it another year before your next Doomsday prediction, bai.