What is a recession and what effects will we see?
954076
A recession is a slow down in the economy. A recession is defined by two quarters of no growth in the gross domestic product (GDP).\n\nThere are many negative factors for Americans. Since companies are not selling as many products, they lay people off. Usually prices go up, since companies are still trying to gain the same profit on fewer sales. Homes become harder to sell. Wages either stagnate or go down.\n\nThe truth of the matter is that the government declares a recession over after the first increas of the GDP. The problem is that the jobs and income increases take much longer to come back.\n\nTake care,\nTroy
560157
The large problems are:\n\n- open-ended costs of wars of unknown duration in Iraq and Afghanistan\n\n- essentially uncontrolled costs of entitlement programs\n\n- effect on Social Security, Medicare, etc. of population age shift toward more retired and fewer working.\n\n- off-budget obligations of Fannie Mae and Freddie Mac.\n\n- Congressional pork spending\n\n- the possibility that oil price inflation will weaken the economy\n\n   Essentially what we do is tax and borrow to fund our federal obligations. As long as we can produce enough revenue and credit by those means, the budget can go to the moon and nothing will happen. If the economy is cooking along, tax revenue goes way up and a big part of the problem is taken care of. If the economy is strong, other countries will gladly invest in our treasury bonds and another big chunk is taken care of. But if our economy recesses, which it can be expected to do periodically, especially after a boom that encourages larger and larger deficits, watch out. Then tax revenues go down, maybe suddenly, and other countries may begin to retrench on their buying of our debt. No one knows what the Federal debt should be to avoid problems but a key thing to watch is how countries like China, Japan and Germany are buying our treasury bonds and notes. If the buying begins to slow, we need to cut back until it picks up again. To look for fiscal restraint from Congress is not an option to plan on. The best solution is a strong economy.
1062741
they didn't give ya the time of day cuz you are doing good probably. you can cause recession with any thing you put in your mouth- the trick is to be gentle yet thorough
586254
Better technology and medicine is a given. Gas prices will probably be higher. People will continue to complain about the economy but no one will do anything about it. We'll have a different president (the way things are going now, probably a Democrat), but we'll still have troops over in Iraq. TV shows like "The Simpsons" and "Friends" will continue to be on reruns every other hour. Americans will continue their dieting craze, but won't stop eating fast food. More doomsayers will emerge, just as people did right before Y2K. And as for resolving the immigration issue, I really have no idea...
136111
< The Great Depression was a massive global economic recession (or "depression") that ran from 1929 to 1941. It led to massive bank failures, high unemployment, as well as dramatic drops in GDP, industrial production, stock market share prices and virtually every other measure of economic growth. It bottomed out in 1933, but it would be well after World War II before such indicators as industrial production, share prices and global GDP could surpass their 1929 levels.
153110
What is the effect? Double digit unemployment. Lowered tax revenues. Jobs disappearing at an alarming rate. Combine this with socialized medicine and health care and a growing social program saddled with ridiculous deficits, and you can guess the effect it would have on hospitals, police and schools.\n\nAnd this is what people want for the US? I say, "No, thanks!"
266203
in the next 5 years there will be a lot of people unable to pay their mortgages, so a lot of repos.  in 10 we will be recovering from the disaster of the "hidden inflation" technique of money management by the Fed.  in 25 years we will be asking China if we can have some input and a share of their base on the Moon.  in 40 years there will be no unions, and no consumer protection.  in 50 there will be a great depression, followed by the rise of a labor movement, and the restoration of consumer protections.  Rinse & repeat.
571257
i don't know what the final outcome in iraq will be, but i have made this very point to people i know. i heard the same thing in 1969 myself. we were in an unpopular war then, gas prices were soon to rise, people, for the most part, were becoming disillusioned with our government, jobs were soon to start drying up and many were to move overseas, interest rates were starting to rise. sounds like deja vu all over again today, doesn't it?
823758
Quite likely, as we can't afford to fund the future pensions (Government), the way pop.  incomes are going.\n\nWill
276492
Looks like it.\nBad government, numerous tragedies and natural disasters, slowing economy, lots of outsourcing, jobs are going to foreigners who're going to take jobs for less pay and more hours...\nTime to buck up, and head back to the glorious days.
339491
Modernization means a great change for many countries. As you can see some effects of modernization is the outsourcing of business in other countries. That means less job for some countries while a great opportunity for other countries offering cheap labor cost. Other effects of modernization I think is the way people lives. Like now at our times, technology affects how we live our lives everyday. Cellphones and internet have largely affected the way we communicate with each other.
321626
The market is alright just now...the boom of around 4-6 years ago has gone, but there are jobs.\n\nGood luck!
67009
I think that it will crash soon.\n\nTheres too much instability in this world right now!!\n\nFor example:\n\n1. All these strains of the flu- affect the health care system\n2. War in Iraq and God knows what other places in the future!\n3.Gas will run out\n4. etc.\n\nI think we're heading to a bad place soon. Make sure you look out for yourself! And think ahead for yourself and your family.\n\nI think that the government is gonna take us for a ride....\n\nCheers! danae
316749
You are asking a loaded question. In the next ten years there will be 76,000,000 people retiring, that alone will shift much of life as we know it. Real estate may peter out as baby boomers sell their big homes for smaller ones. Stocks may not do so well with less people working. Commerce (GNP) will slow as there are less buying dollars. Foreign powers will gain strength, economic and political.
443975
Really, I do not think there will be much of a financial impact.\nRemember the campaigns last year urging people not to buy gas from Exxon-Mobile or not to buy gas on certain Mondays?\nDid that work?\nWhat about the anti-war protests? Any effect?\n\nI am guessing that, like most of us when we take a day off, Hispanics that take May 1st off will have to work more the day before and the day after.\n\nAt the end of May, we will celebrate Memorial Day. All government business will be closed. Millions of people will not work that day. This happens every year and somehow, we all seem to get through it without a catastrophic collapse of the American Government.\nAs for the schools. If parents are going to protest the fact that their children are receiving a free education for their children they are just ungrateful!!!\n\nIf I ran a business and people decided to take May 1st off to protest. I would fire them. I am sure a lot of people feel the same way.
394549
no, it is just part of the business cycle. sometimes it's up - sometimes it's down.\n\nbtw, we have not been in a true depression for many years - mostly only recessions which is defined as 2 quarters of negative growth
410198
nothing really.\n\ntake a look at the climate statistics in last 200,000 years and you will see the changes happening currently is negligible compared what happened in the past.\n\nit does not mean tough times are not ahead, with global warming sea levels will rise up 30+ feet. \nBye bye Venice unfortunately... Probably that will be the least of our problems. Warm water currents will be disrupted severly and Northern, Western Europe will be frozen...\n\ni still believe in an eternal balance.. as long as we human beings dont push it too hard it should manage to find a equilibrium of its own.\n\ngood luck and dont buy a house near the coast line.