Are We In A Recession NowI am not sure how a recession is measured, but from what I have been reading we are not in a recession at this time, July 20, 2008. I will say this though, the U.S. has made it through a number of recessions in the last 60 years, but we are in worst shape now than we were in any of those recessions. The reason we are in worst shape is because in those recessions all we had to do was come together as a country and solve the problem. The world doesn't revolve around the U.S. today. Other countries have developed and taken away much of the power we had in the past, so now we have to come together with other countries to solve the problems and if they are not willing to help with the problem there is nothing we can do about it. One of the problems we are dealing with are high gas prices. The more demand we have for oil the higher the price of gas will get. Now we can use less gas here in the U.S. but that won't solve the problem because other developing countries like China and India are increasing their demand. I am sure you know this, but in case you don't we use oil to produce just about everything we use here in the U.S. We use oil to make diesel fuel to transport our food in trucks to the grocery store. Prices for everything we use are going up. I am not going to go into detail about all the problems we are facing, but here are a few. More foreclosures in the housing market including the depression. The U.S. dollar is at an all time low to other currencies. In 1964 if I exchanged a dollar in Germany I would receive 4 German Dollars (Marks), today I would need to exchange 4 U.S. dollars to receive 1 German Dollar. The U.S. is 9 trillion dollars in debt, can you imagine the interest we are paying on that debt? Ok, let me get to the point, if prices keep rising most people will buy only what they need, when that happens businesses will start to close, when the business close people lose there jobs. People with no jobs will not be able to spend money even on things they need. When that happens the life style you have now is over. In the depression the U.S. Government came to our aid, it won't happen this time, remember our government is 9 trillion dollars in debt right now. Could this happen in the U.S. I hope not, but can you tell me how it won't happen short of another war. Visit My Home Page For More Answers Odd Things To Know
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