Economic storm clouds gather

I believe that we are already in a recession, and that people aren’t taking it seriously enough. People are struggling to keep a roof over their heads, food on the table, and gas in the car to get to work. Of course, many people complaining of those things still want the luxuries of multiple cell phones, flat screen TVs, and the newest techno gadgets. I feel that if more people reduced their “want” spending and made smarter choices with their needs, the impact on their families would be lessened.

For instance, in our family, it made more sense for me to stay at home with the children, cook from scratch, drive less often (do all the errands together once a week), hang laundry up to dry, and grow a garden for my fresh herbs and vegetables. We also shop at farmer’s market and from local butcher shops to lessen the amount of oil used to transport our food. We live in a cold state, but the thermostat stays at 68 degrees and we wear warmer clothes in the winter.

bush has runied this country.bush
needs to live like all of us.if
bush didnt own oil wells he would get the prices down. but dont think the
check will help nobody but bush because it will go back in the gas
tanks and energy costs.

In other headlines, 3 out of 4 kindergarten students think our trade policies are wrongheaded. No offense, people, but our collective grasp of economics is pretty much zero, so maybe a poll of ECONOMISTS would have been more useful.

Also, wasn’t there a time when newspapers actually published WHAT HAPPENS instead of what they THINK is going to happen? Given the constant media drumbeat of “recession-recession-recession,” no wonder people think we’re in a recession! CNNMoney and the rest of you media jackals–this is your fault!

The US economy is in a downward spiral. I lost not one, but two state jobs, one full time, one part time due to budget restraints and found out about it one day before my return from unpaid family medical leave act leave after having a baby. This is serious. I think we will see families gathering together under one roof. The rich keep getting richer and the ‘middle class and poor’ keep getting poorer. All I can say is “Save, Save, Save” any penny you can.

Free trade provides a huge benefit to American consumers and American workers. It’s not just inexpensive T-shirts from China. It means paying a lower, fair market price for anything that is more efficiently produced in countries where the cost of doing business is lower. What American companies should be doing is seeking out business opportunities that take advantage of things that we can do better in America than anywhere else in the world. Companies that ask the United States government for protection from foreign competition are asking Americans to pay more than they should for goods and services.

Inefficiency should not be rewarded. However, unfair business practices that keep American companies from freely competing in foreign markets cannot be tolerated. Stiff trade sanctions should be enacted against any trading partners who let down their end of the free trade bargain.

Clearly we are in a recession, that is obvious today, and we are dragging the World down with us. Congress should have listened to Ron Paul and stopped this overspending. I agree with the world news I read that the “Economic Surplus” is too little too late. If we would have tightened the governments belts like we have had to tighten our own, this would not be happening. This is the result of a nation trying to build a global empire, we just can’t afford it.

Shareholders…Blame yourselves.

You bring in CEO’s for millions of dollars (per year). They and their very high paid staffs play “outsource, cut the job, take a bonus” game until the company fails. And when it collapses, they get paid even more! More jobs get cut to cover paying the CEO for failing.
You pay them to screw up. No backlash, no restitution.
What did you expect?

I am a single parent and only parent contributing financially. I am very worried about losing my job to India or china and then losing my house.

Most of us are very, very worried. I thought I was about to retire at 63 and now this looks impossible. As it is now, I don’t have a newer car, no DVD, no cellphone, no new clothes,never, never eat out our go to the movies. I’m single. Paying rent, utilities, food, gas. Work 40 hrs a week and make about 40,000 and find it hard now. My savings have just been hit with a loss of over $6,000 in the last 2 weeks. And that is working for the government savings program. We are at a loss. Help us Lord!!!!!!!!!!!!!1

Only ‘Made in America’ and Control on government spending can save the country and the economy.

Free money (previously from housing line of credit) and now from tax cuts will only quickly evaporate and add to the trade deficit;

if this country is in a ressesion why not help the ppl by lowering the gas at the pumps food would go down everything else would to

This is very frightening. I have begun stocking my basement with bottled water, canned food, whiskey, toilet paper and cigarettes. I cannot sleep at night. God help us all.

I am not really surprised at what is happening. As a student in economics I have been following the economic situation and in one study our class team had came to the conclusion that things like this would be happening in late January or early February. In one thesis that I wrote I had speculated that the housing industry and mortgage industry were going to be hit hard. My speculation and our team predictions are very close and I had prepaired for this long in advance.
As for the big give away by the congress and the president, unless it is centered to those making less than $60,000 per year then it will have no real long term effect on the economy.

I am in the real estate business and the only thing I can say is that ALOT OF MY FRIENDS have been fired or “layed off” from this business. I don’t know how the decline in real estate sales and refinances came about but I know that this will probably continue for some time, unfortunately and I believe that this is what has been affecting everything else along the way. When many, many people are out of work then the economy has to be touched in every aspect after that. When gas prices soared was another factor because people were debating on getting gas for the car or going out to a movie. Guess which choice had to be made and the theater lost their money. Everything effects everything else and I believe it will be awhile before we see things come back around again.

It’s time for those in leadership to stop making decisions based on what the general public (who generally have little to no understanding of what the best economic policies are) and start listening to real economists, especially on issues of welfare, social security, health insurance, taxes, tariffs, etc. It’s time we start entrusting our economy to economists who actually went to school for and studied economics, not politicians who went to school for and studied politics and are only concerned about winning the election by talking about policies that sound nice in fantasy land where everything is free and the poor have just as much money as the rich, even though the rich actually went out and worked for it (fact: 90% of millionaires DID NOT inherit their wealth). I wouldn’t let my Senator perform heart surgery on me, why would I want them to set economic policy, especially when they are basing it on polls of people who, most of which, didn’t even take ECON 101? Take a poll of economists to see what we should do.

Wall Street owns the Govt. The dot com boom. Wall street got greedy and destroyed it. The sub prime lending, let me help those were and are BAD LOANS period. Wall Street created that beauty.Now we have to bail them out like McCains friend Keating
The Govt needs to stay out and let the markets self correct.
The Congress and President I include Greenspan and theh Federal reserve, really don’t have a clue.
Stop the GOVT spending and giving everything away.
Congress has destroyed this Country and We fight over Democrats and Republicans they are one party “The washington Party” and we are the surfs that support it.
We need a new party the two we have don’t work!!

I absolutely love our country, it is still the best in the world. If only we would go back to the founding roots and everyone would start working for what they are given we would be a much stronger nation. Let’s teach our kids to have better work ethics and we will withstand anything.

What we need is to GUT Wallstreet and Government. Everyone making over $1 million will be taxed 200%. Lets start with money grabbing Politicians. Anyone of them taking BRIBES or REBATES, whatever they want to call them will placed in Prison for 20 years. Close our borders to anyone except 20 day visitors/tourists. Buy American products. Taxes based on consumption.

Recession! LOL Ha ha ha.
This is the start of the Depression.
American’s are strapped with heavy credit card debt coupled with high int. rates on credit cards.
There is very little disposable income after credit card payments. There will be a record number of Chapter 13 Bk’s. unless the Congress forces lower credit card rates on the Banks by about 50%.

To jean and maddawg, the hilarious part is that we subsidize the milk and gas, artificially creating the inflated prices by our own hand! Duh.

You know, folks complain about health care costs, and yet we as a nation spend TRILLIONS on XBox’s, designer clothes, unhealthy dining, smoking, drinking, cars (a truly crappy investment), and drugs. Whatever…

History will declare Bush a great president. Well informed people will know otherwise.

Intelligence, education, information, and careful thinking are the only tools the middle class has to make the correct decisions. If we continue to waste these tools, we will expire. One hour of American Idol is worth three hours of stupidity.

The top .1% of the world’s wealthiest are raking in the cash through the global economy while laughing on their yahts. Ignorant, fearful Americans will install the puppets (Clinton, McCain et al) of these wealthy.

The one worlders will have their way, regardless of the wiped out middle class. Then, when there are only two classes, rich and poor, some will wonder how it happened.

Stupidity and TV, it’s the opiate of the people and the tools of the rich; enjoy them while you can afford them.

I was at the mall this weekend and people are spending money like crazy. You can blame corporate America for giving all these low-income wage earners credit. They will get caught up but it is there own doing. If one is smart about their credit, they will be OK. I am sick of people I know that do not make as much as I do, buying material things I know they can not afford. Good career track for non-college bound high school students: Repo-man!

Seems to me getting good jobs back on U.S. soil which pay reasonably well and give benefits is the answer to the problem we are facing.

People are heavily in debt and their credit cards are maxed out. Throw in high oil prices and that repercussion -higher prices in food and well, there is nothing left at all.

Bush is not for middle America. That is obvious.

It’s biblical this world is heading to it’s own destruction ,no matter what the people of this world will do ,we will never be better,it was already said in the bible it will happen ,so people don’t believe what is written ,just hold on !!!!!!!!!

We are in a recession and it’s getting worse. I have a good retirement amount that barely covers my meds. My child graduated from college last year and can find only part-time jobs, no benefits, and we’re both sick about parent- and student-loan payments.

Easy Money? Yours, that the Harvard bank CEO’s loaned out. When you can afford a home that’s when the recession will end, thanks a lot smart guys, Bush WHO? Iraq What? Where’s the oil? Pass the Wong.

I definitely believe we are in a recession. I think most of the recession is due to high oil prices. I am considered a middle class citizen with a family of 4. The price at the pump and our fuel bill has drained us of any extra spending money. It makes me laugh when I hear people say they have to gain consumers confidence so we will start spending our money and boost the economy. Are they under the impression that we have extra money lying around that we are hording? Trust me we don’t, the middle class is being striped of any extra cash and we are now just trying to make ends meet. Lower the gas and fuel prices and maybe the economy might recover.

I’m not following how mailing out billions of dollars to Americans will ease financial concerns. Isn’t our national debt at trillions of dollars already?

I say, throw all these CEOs in jail; Charles Prince, Jamie Dimon and the like.

It’s great that we’re in a recession. Now we just might wake up and actually take actions to correct this country.
OR take our normal course of action, watch TV and go numb.

I’m not certain that we are in a real (recession) ? but we are certainly in a real economic slowdown…my income has NOT risen in three years, my time, effort, and even sales have, but my company is not making a big-enough profit to do nything about it, gas is 30% higher, food, services and just about everythng else has risen …everything but the average Americans buying power…hand on to your hats folks…’cause a big wind is a’coming !!!!

I muat say that at this time I have great consurn about the direction this country is going. The loss of good paying jobs, stagnent wages, the increase in the cost of living cannot be sustained by the working people in this country. If we continue to drive our wages down who will beable to buy the cars and homes etc.

Compared to the economics of the 1970s this is small potatoes. Unemployment at 5% pales in comparison to the double digit inflation and nearly double digit unemployment of the Carter years. Frankly, much of this panic is driven not by economics but by political posturing by those seeking to benefit from the misery of others.

It seems that whenever we have broad economic problems we look to government to solve them. Unfortunately, they cannot be solved by government. Re-training, while intuitively attractive, does not provide the number of workers needed by this economy alone – the jobs must come from individual initiative and you cannot give someone initiative, it must come from within.

Well, its obvious where the blame is on this. Our economy is driven by consumer spending, so when the price of nearly EVERYTHING i.e. groceries, gasoline, the basics of life soar to astronomical prices, the average joe doesn’t have the money to spend on big screen tvs and Playstation 3’s. So if something could be done about the staggering level of inflation, the economy could quickly correct itself.

This whole mess was started with cheap money from the Fed, an out of control banking sector willing to loan anyone with a pulse money, and our first MBA President whose loyalties are to those in the markets, and not the average American. No wonder there is the greatest discrepancy in the haves and the have-nots since the days of the robber barons. Thank you Republican domination of Congress, Senate, and the Presidency for the last 7+ years. Finally, there is light at the end of the tunnel with Democrats picking up a majority in the legislative branches.

Great, the last time the market tanked, a boatload of boomers nearing retirement were forced to change their minds, and instead stayed in the job market, creating a situation whereby tail-end boomers were forced to wait in line even longer for promotion. The boomers hung on, pillaging positions for power and salary so that they could make their retirement scratch. Looking forward to it happening all over again now, as downsized professionals from both coasts invade the midwest and either marginalize or edge their younger sibs out of the workplace. Remember this when we’re changing your diapers in 20 years, you greedhogs!

Unfortunetly, I think we are already there. We give too much money taking care of other countries and there isn’t enough left to take care of our own! Keep the jobs here, not overseas. I am a single parent and have to watch every penny. My life pretty much revolves around my gas tank! I know we have oil in this country, where is it. We’ve been on this path for 8 years.

To one & all,
I heard and/or read from every “talking head” on tv, radio, newspaper & magazine. Save but a handful only begin to get the “Big Picture”. We, as a nation, have been laying the groundwork for this scenario since the 1960’s, internally & internationally.
What do I mean by this? First off, our root problem is spiritual, not financial, not political, not anything else. From our ’60s failure of disregarding the Scriptures, acknowledging God’s Christ, and compromising Israel, we set our course until this day. And it’s just begun.
I’m sure many are shaking their heads, blowing me off as some religious nut(BTW, my IQ is near 180, and I’m a Radiation Physics & Computer Engineer) . PAY Attention People!
There’s an obscure article called “Divine Retribution” (2005), which correlates our nation’s calamities every time we’ve made Israel compromise or put them in peril. It’s more than coincidental that our present crises have been running directly parallel with our present dealings with Israel and her Arab neighbors: $20Bln arms deal to Saudi Arabia, pressure on Israel to give up more land, make more concessions to the PA. This is no joke, look into this and make your own decision.
After extensive study on every front, there is only one conclusion & remedy. On every level, personal, familial, local & nationally; we must return to God’s Word (repentance), accept His Christ as revealed in these Holy Scriptures & pray. Only then will He forgive our iniquities & begin to heal our land.
If you still think I’m loony, just remember this post, watch as things unfold over the next weeks, months, & years.
The other posters are correct, the ride is getting rough, but this is only the beginning of the “Beginning”.

Read the “Black Snowball” available from Lulu.com

Recession isn’t likely…we are already there. We can’t trust our own government anymore. They say Bin Laden is responsible for 9/11. So, um, why did we get Saddam and not Bin Laden? But, hey…now we control a middle-eastern country and their oil. (Which reminds me…why is gas so high?) We blindly trust the government and whatever it is they say and do. We never seek answers for ourselves anymore.

Quick fixes aren’t the answer. People aren’t asking the right question. The question is…HOW DID WE GET INTO THIS??? Let’s eliminate the real problem. Oh, that’s right. We can’t. The power was stripped from the people a long, long time ago.

Mr. T. Sinclair I agree with you completely. Just want to add that military spending needs to be cut if US were to entertain any thoughts of regaining the growth levels. Earlier these were OK as long as there was no threat to US’ leadership position in innovation and manufacturing. Now there are host of other countries which can beat US. So they need to cut wasteful expenditure & why not start with militart

The USA is now Rome is Decline. We had our time, it was abused by business and crooked politicians. We cannot compete with $.36 an hour labor wages from China, illegal alien labor dropping labor rates in the USA, unbelievably un-fair trade aggreements created by politicians to protect certain Corporations and not the American public, a 2 trillion dollar collosal war blunder and failure. Minority people think that education is worthless and 75% out of wedlock birth rate. While the rest of the entire World values education to get ahead, here in the USA the only thing valued is MTV, drugs, sex and alcohol. We have criminals , an ignorant moron of a President and a greedy, miserly, tyranical, egotistic V.P. what should we really expect? We now live in a country where wrong is right and right is wrong because of litigation and attorneys. These same attorney create law to protect themselves while the public suffers. Oh well, it is nice to live in San Diego anyway!!!

impeachment now!

Free trade could have worked, but give a greedy CEO an inch and he’ll want the mile. Instead of creating jobs or securing jobs, corporations used it as a club to beat labor over the head with the constant threat “there is someone in -insert third world nation here- that can do your job for a tenth of what we are paying you”.

It even goes farther than that. China and India are now gearing up and demanding more resources which drives the prices up. $5/bu corn, $9/bu wheat and $100/brl oil, but hey you get your lead laden, chinese trinkets at WalMart for half price.

To make matters worse, our “trading partners” control their currencies and artificially keep them below the dollar so that the markets will never reach equalibrium so we continue on the downward spiral.

I’m all for free trade if the field is level, but it’s not so it’s time to level things up.

Very worried. Some areas like my home town are slipping into a depression. Nationally the younger home buying genereation is leveraged out of the market since they are over burdened with school loans. Plus the US dollar is about to loose its status as the world currency. Honestly I don’t see a near term turn around to all this.

Where do you begin. We have people who think some are just plan lazy, and the rest taking heed that something is drastically wrong. One week I walk and Sams Club and pay 1.87 for an 18 count of eggs and then the following week it is a whole dollar more…..Come on. Consumer have to re-invent their budgets or take away from something in order to see above water. I work for the federal government and a veteran. During the holidays it was talk of a furlough because the budget had not been signed and the war in iraq was eating all the funding. Please don’t be so vain and ignorant and not see the harsh realities that we or even worse our children will have to endure. Wake up America!!!!!!!!!!

The Michigan economy has been in recession for a long time. So to everyone else, “welcome to the party.”

Funny how the same oil money is being used to buy up the US stock.

We are a buying country, importing good and becoming more dependent on others countries. How much longer can we sustain it.

First it was manufacturing now it’s service sectors affected. We are seeing other courtiers prospering at our expenses. Dubai has the world tallest buildings (oil funds). India (IT outsourcing) and China(manufacturing) are doing exceptionally well. Their growth rate is over 9%.

Financial, pharmaceuticals and other sectors are now sending all the jobs to other countries getting it done cheap.

Companies like Sony, Pfizer, Bristol Myers Squib, Merks, Citi, are sending all their jobs. The top management is asking the lower ones to stop recruitment and get the job done cheaper in India or China.

Every other nation except US has there own set of protections and safe guard. We are open till it starts hurting.

The top layer wants more tax cut, more millions and billions. They want their work to be done cheaply anywhere anyhow. They are the CHEAP CEOs. Have not vision at all.

Our founding fathers (CEOs) all wanted the best for the laborers…not today’s CEOs. They have a cheap mind set. Their only aim is can I make a few buck more…. can I fire another few hundred guys and get a handsome bonus.

Cheap CEO have not back bone. Shame on your guys!!!

HUGE LOLs to jean…

fyi….

a recession is not defined by the cost of milk and gas or the amount of your income.

want more income?? make it happen dont EXPECT someone to give it too you.

some posts are just worth…..well, nothing.

We have to be able to take our lumps along with the good times. The idea that the economy will never correst itself is silly.

Our main problems are the ones that persisted right through the last expansion: rising health care costs, stagnant wages for many workers, and uncertainty over social security. These issues were there during the recent “good times” and they’re still here.

The storm is on horizon. Hold on!

As a European who has lived in the us for many years i am saddened by the fall of this once great country. A total absence of leadership from the president down to the corporate level. The insane war mongering and so called nation building in foreign lands. The current slate of president wannabees and silly journalism does not spell hope for this nation. It is like watching a great tragedy unfold.
We do not need a charming or popular politician to take the helm. We need someone who can use a compass.

Time to buy stocks is now!! What you want to buy them when they are at the top? Instead of buying the gadgets, buy the companies that make them.

The trickle down policy of the past several years is a failure for the 95% of our population. Fundamentally, the political leaders of both parties are beholden to foreign and corporate lobbyists who are disloyal to the U.S. and the greatest common good. Democrats gave us NAFTA and 3 million less manufacturing jobs, Republicans have granted massive amounts of corporate welfare and pork. American consumers hold the key to reining in these so called free trade policies and ignorance of the greatest common good. Americans need to dramatically reduce spending on anything foreign, and in addition, demand the return of production of critical infrastructure (defense electronics, weaponry, tool & die, steel etc)as an immediate step. Economists will tell you that trade and cheap prices benefit consumers. Really? To the extent that good paying jobs are outsourced and average income remains flat or declines, it is unlikely that a significant enough decline in prices will cover fixed costs such as mortgage, tuition, healthcare, infrastructure and other costs not to mention putting food on the table. Since Americans have incurred massive amounts of debt, I suggest that the “cheaper prices” goal of free trade is a fundamental and absolute failure. The populace needs to demand rules that reduce the power of lobbyist, eliminate these foreign caucuses with our representatives, immediately leverage a 25% VAT on Chinese and other foreign imports where an imbalance exists, and eliminate any tax incentive that drive offshoring through foreign subsidiaries. Finally, we need to secure our borders from illegal immigration as the social costs to our hospitals, schools and safety net programs has become unmanageble.

The only way GWBush is going to have his “New World Order” is for the monetary system to collapse. This will happen in steps.
Lower the Prime Rate so investors lose interest in loaning money.
Spread the word “Recession” so buyers lose interest in spending.
Using taxpayer money, the Western Hemisphere power-brokers ride in with a “Stimulous Package,” which includes a “new monetary unit,” perhaps, “The Amero.”
Of course, this NMU is worth more than your current money, so you’ll have to exchange for it. The rate of exchage will be, like the Peso. Market rate is 3000 Pesos to the dollar an official rate is 30 Pesos to the dollar.
Using this analogy, 3000 dollars could equal 1 Amero.
End of Recession and long live the “New World Order!”

Its pretty bad when the cure for the deficit spending, is more deficit spending!

Wall street is behind most of the problems as they promote more financial schemes!and the congress goes along with every thing they want!

States are no better with all their search for federal matching funds and their high tax rates!

This country has no oil so lets figure out somthing else out besides War to help us to be more energy independent!

Why does such a great news organization like yours constantly emphasize the negative about the U. S. economy versus offering ideas for changing the economy of the future so negatives are less likely to occur or be less severe?

It has been obvious for years that individuals could not continue to live beyond their means by spending want they don’t have. Why haven’t you been cautioning people about this and trying to help them see the consequences of their behavior versus simply watching it happen? Is it because of who generates your advertising income?

Please don’t say you are merely reporting the news because you are not and you know it. Your current approach to reporting actually makes matters worse because a lot of people blindly believe whatever you say or report since you are supposed to be the experts.

Please start helping by offering ideas for economic alternatives versus encouraging panic and sympathizing with those individuals who have created their own problems.

My lifestyle will change until this storm of economic weirdness passes. I am 66 years old and rely on investement income to supplement my social security. The key words for me, and others affected by the roller coaster ride known as the stock market, should be “diversification” and “patience”. It would be insanity to bail out of the market now while stocks are beaten down. This financial bad dream will pass. I hope within a year or so. In the meantime, I’ll cut back some on my spending, work a little harder to generate some income from my parttime business of graphic design, and watch for the dawn of economic wellness. What I won’t do is bailout and convert to cash or gold. This downturn will pass. It always does.

We live our lives, and we don’t need pollsters to tell us what we knew for quite some time now, that the economy is heading into recession. Although I live comfortably, I certainly feel poorer. I don’t want trips overseas since my spending power is severely hamstrung by the weak dollar. I cringe every time I go to gas station even though my car sips gas with good mileage. The grocery bag feels lighter when I shop for grocery with the same budget. My 401k and other investments are down, way down in fact that it pretty much wipes out all gains from last year. Not that the housing woes affect me since mine is fixed and I don’t plan on selling, but it’s distressing to see so many good neighbors getting forced out for various reasons, justifiably so or otherwise. While all these might not fit the usual definition by economists of a recession, it’s a recession to ME, and that’s all it matters, isn’t it.

I am extremely worried. If our country was a typical household we would all be living in the woods. I don’t use credit cards, but am starting to run up my equity line of credit, as I try to sell my home. I sell real estate, or try…what is up when we limit foreign nationals to only 3 months stay at one time,( the ones who want to buy from me) but leave our border wide open, for all to cross? We have given all of our manufacturing jobs away, and allowed China to hold tremendous amounts of our debt? Why not just let them take over the whole country now? 2/3 of the economy depends on us buying another t-shirt? Good God, what do they do in Washington except spend what is not theirs…We got what we deserve. No energy policy, and we have known for 30 years that we were too dependant on foreign oil. You are telling me that we can’t figure out how to power our country on anything else? As Dave Ramsey and the Bible would say, the borrower is slave to the lender……

What a disaster for my country. I love the US but since Bush took office we’ve been so mismanaged economically that this can be seen a mile away. What if 8 years ago we had gotten ourselves off of oil, spent more money on scholarships for science and tech, increased regulation on the mortgage industry, insisted China stop pirating our goods and making theirs with devalued currency and the equivalent of prison labor, invested more in Latin American instead of turning them socialist, enforced immigration laws to help American companies, and lowered our taxes to make us more competitive globally and help keep jobs in this country. Instead, now we’re trying a band-aid with a one-time tax rebate. I hope it helps, but I’m not optimistic, and my family really can’t handle a recession.

We are beginning a recession. And as bad as the one in the late 70s and early 80s was, this may be worse. Middle and lower income Americans, to a large extent, have debt and not savings. And jobs are shaky. The place I work for had 2 large layoffs in the last 6 months.

If the government sends me this magical economy fixin $800 Im just going to send it right back to Mr. Bush and tell him NO THANKS! I dont need his welfare money because I work and earn my money and I dont waste it buying stuff I cannot afford. This is just another example of how the government wants to control our lives and make us dependant on them. We need lower taxes and less welfare. If there are so few jobs out there then why do people sneak across the border to work here? There are too many fat and lazy Americans that dont want to work and prefer to live off the government.

The so called housing decline is not the cause but a symptom of a more ominous trend in todays economy.
Namely,the Mcjob situation.

When will corporations learn that moving industrial production overseas moves not only jobs but the educational, technological and logistical subsystems that accompany them.

All for what, 2 or 3 cents on the dollar? I recently saw a gallon of windshield washer fluid in a store MADE IN CHINA. How much energy was wasted in this business model?

This “tax rebate” baloney is just a band aid that will last as long as one on your elbow. Congress, do your job and boot the lobbyists. Grow some teeth, stand up to Bush and do something good for America for a change!

I am not of the belief that we are in a recession. Where is your proof? Where are the numbers to back up your belief? People’s opinions are based on perception and the media. My wife and I are in a great place and continue to pack away thousands each month in savings and retirement and have no problems paying our mortgage and other expenses. Everything is cyclical, I see this down turn in the market (which is all based on investors perception)as an opportunity to buy. The market and the economy will bounce back to reality…mark my words

I think those crooked mortgage brokers did this to us all and they should pay the price!They are just about the lowest of the low right under used car sales men and just slightly higher than attorneys.

It’s awesome to hear all you say how bad things are. When there is blood in the streets it’s normally the best time to jump in the market. All the scared people dump their stocks and people like me swoop in and buy them at deep discounts. Everyone knows you should buy low and sell high but it’s funny how most do the exact opposite.

This whole idea of “free trade” and globalism is the opposite of what the founding fathers envisioned for this Nation. Besides this thing the government calls “free trade” is actually unfair trade. It has destroyed our industrial base and eventially will cause a lower standard of living.

I have NEVER fully recovered since being downsized in 1995. I lost ALL financial assets…living on small pensions and not spending a dime more than necessary

This issue, has been growing for years, too bad the leadership of our government is so detached from real life, the un-balanced budget, the cost of war, and the big one, the PRICE of gallon GAS is going to bring us to our knees. Not only for us but our children as well. And I do not believe giving a tax rebate is the answer,all that is is giving us our tax return early, lowering our return if any for 2008. I for one will not spend a dime of it! I’ll have to set it aside, to pay my taxes in 04/2009. We been fooled before by this rebate, and when it comes down to it a year later, we end up with a tax bill and no tax refund for 2008.

I see that we are on the tip of the iceberg. As home values continue to fall we are going to see people who CAN afford their mortgage payments let their home go back to lenders as it makes no sense to thow good money after bad.When this happens, and it will,the american economy will most likely get very close to or enter another great depression. We will become the laughing stock of the world.

Unlike so many americans my family has always saved for a rainy day. We have one years mortgage payment in a money market fund along with full contributions going to our 401K’s and IRAs. We carry no credit card debt and live as healthy as possible. Our biggest expense is our halthcare premiums but they are managable because of company contributions. We live a modest lifestyle and we eat out about 4 times a month. People brought their own ruin on themselves financing $50K Escalades and homes there was no way they could ever begin to pay off. If the President thinks another $50 check in the mail is going to “stimulate” our economy he’s crazy. All it will do is let me take my wife out for Sushi next Friday night.

In 2002 when the bull market started:
> oil was $20 per barrel > the prime was at 4% (now it’s 7.25%) > A housing and construction boom was starting putting a lot of people to work > People were refinancing their homes and putting the extra money into personal spending > Home eqity rose at a history pace and cheap home equity loans were plentiful and at good rates > Foreign investors were buying governement bonds by the ton putting that money into our economy.

All those things fueled an economic boom that lasted almost 5 years. They’re pretty much all gone. Does anybody see anything out there that we can use to put (reliably) some gas in the tank. I don’t. The government is making all kinds of noise about helping the economy but I think that, even with the best of intentions (which we rarely see out of Washington), what they can do amounts to a drop in a very big bucket.

The recession is real. However, 90% of the negative fallout (stock prices, reduced spending) is due to the media hype, not real economic hardship for the majority of the nation. The stock market is a manipulative tool used by brokers to “grace their palms with silver”. Major swings in the market on the EXACT SAME NEWS is absolutely manipulation. Not true economic impacts or implications. Thanks Wall Street and our “doom and gloom” media for creating the situation we are in today.

The only ones working overtime are the debt collectors. Wake up Mr. Bush the American people need help. $800 is nothing. Heaven help us

The last seven plus years of the Bush administration has done nothing but create numerous problems for this country, bringing us to the brink of recession. The economy is awful, the loss of jobs and unemployment goes unreported, the cost of living is much higher than the average person’s income, and the country itself has huge debts. We are owned by foreign countries and foreign companies. We are in a mess and need to find comprehensive answers now not next January. First and foremost, vote Democrat!

As seems to be the norm, Wall Street and all the corporate and investment sheep follow either their over exuberace in good times and their panic in bad times.

What bothers me most is that the average American investor continues to believe companies can continue to bring in 20% growth forever. It rarely happens, if ever. They also trust their advisors/brokers, who make money by buying or selling.
Things are never as bad as they sound, and there are constant contradictions everyday re: the economy. Let’s try to all calm down, stay put, and maintain some stability vs.the roller coaster that WS wants to keep us on.

What happens when you outsource $25/hour jobs to India and China, and replace them with $7/hour jobs service jobs in the U.S. is that eventually people will not have money to spend in the U.S. economy. Why is this so surprising to Wall street, politicians and the news media? Duh !

Changed my mind about going on several cruises this winter. Will just sit here in Mn and wait for the snow to melt.

I WORKED MY WHOLE LIFE TO BUILD MY 401K SAVINGS PLAN UP WHERE I COULD RETIRE.JUST TO SEE IT GET DESTROYED IN THE FIRST MONTH OF 2008.

The greed of the wealth set the stage for this fiscal collapse inviloving mortgage loans and the credit crunch. Now the wealthy want the rest of us to spend what we have left to stave off recession. The question is, why don’t the wealthy spend their millions that they acquired from the profits thatthey reaped.

The problem is the media. If the economy was in a recession or going into a recession, the doom and gloom stories are feeding the public’s fears. Not the other way around. NOW, everyone I talk to are cutting back, not spending as much, are going to save, etc. This effect WILL put us into a recession if we aren’t there already. Craziness! Just think, if we didn’t have a 24 hour news cycle and most people didn’t watch the news or read blogs, etc. Maybe the economy would be doing okay to average.

I figure the writing was on the wall over a year ago. As a distributor of Septic Supplies I’ve seen pricing on brass, steel and rubber double, after 7 years of minimal increases.

I disagree with the “rebate”, especially if it is like the last one. It is only an “advance” on your taxes. A rebate is just that, ‘a give back’-well, I am not giving the government a rebate with my taxes! KEEP YOUR CHECK!

I’m really tired of the “Johnny One Note” Republican panacea for all economic problems (ala CNBC’s Larry Kudlow), towit, cut taxes. As we see now cutting taxes has very little to do with economic cycles and if implemented under the wrong circumstances (like when waging a trillion dollar war) it can probably hurt the economy. Any politician who reflexively preaches cut taxes without ever specifiying a time when it’s proper to raise taxes (as rare as that may be) is simply appealing to his simple minded and selfish constituency.

The current state of economy is a combined result of the followings:

1. Greedy financial institues;

2. Greedy consumers who borrowed more than they can handle.

Both parties absolutely deserve no sympathy by anybody, including the government.

About time, we need to curb our debt! When are we going to learn, if you can’t afford it, don’t bye it!

When people look back, they will find the recession started around July, 2007. Depending on how you look at it, we are about 20% below our highs now. With luck, it should turn around in about six months to one year. One of the pluses of people being in denial about the economy is that the worse is almost over by the time they acknowledge it. Now, if only people will recognize when the upturn starts instead of insisting on ignoring it, this whole process can be as painless as possible. By the way, a downturn was necessary to correct for one of the longest bull markets in our history – it is nothing to overreact to- accept, adapt, move forward.

You fear for your job only when your efforts are marginal. Engaged, proactive employees are always in demand.
Recession is fueled by the liberal press that prevails in our society and makes misleading Americans their prime effort.

The fact that the cost to fill my vehicle is 70 dollars and I must drive is taking a toll and is being ignored. The economic “attitude” in the US is largely depressed.

I’m not worried about the economy. I know it is in the crapper already, and I’ve started making provisions for one heck of a crash-landing. In fact, I’ve been chirping about these issues for three years, but everybody was too focused on Natalie Holloway and Britney Spears to give two shakes. What a dumb, dumb country we have let ourselves become, all for the sake of the Establishment Elite, who know no party boundaries.

Oh, and if God can be given credit for all the good things that happen to people, then I say he can be blamed for the bad, too.

Blame him. LOL

Everyone I know is tapped out. They, and myself included are carrying quite a debt load and there is nothing to spare. The real cause of it is that we are exporting jobs and manufacturing overseas. We have been cruising for a recession for quite a while but it was “masked” by the cheaper goods coming in from China. China now makes more goods for export so therefore uses more oil and the oil price goes up. Like it or not, you are paying for those cheap good with $3+ gas. We have a trade deficit that has been growing for years. You can’t sustain that for a long period without bringing on a recession.

Of course we’re in a recession, anyone can see that. My concern is why it’s taking the government so long to recognize it, and to take action. We don’t need bandaids, we need solutions.

If you depend on a politician to tell you how the economy is going, you deserve whatever happens to you.Look around: Health care costs soaring, the currency weakening, billions of dollars pouring into the desert,energy costs unchecked, and US assets being purchased at wholesale by middle eastern and Chinese investment funds and CEO’s types taking 8 and 9 figure parachutes, while thousands get laid off or kicked out of their homes. The sub Prime mess is really a different animal than previous bubble bursts, becasue the ripple effect is more than a ripple. We are 12 to 18 months from a bottom
Politicians will tell you not to worry, go buy something. Don’t listen, save your money, pay off debt, vote them out of office.

This reaction from the government is too little and too late. As senator Mccain said last night, we need to plug the spending hole before these measures really work. We are already in recession on the West Coast and the government denied there was a problem all along.

It is bad and likely will be worse during the year. Neither Congress or the President will make much of a difference until the consumers dig in and not spend their earnings.

The main issue is the Consumer and the fact that investors want folks in their own country to consume! We should have folks in other countries consume our products and services.

Just not enough people know how to invest, and they are so caught up in their little worlds of what they own and what new gadget they can buy with their next paycheck. Meanwhile, investors who invested in that gadget company get the money. Over time, they can buy as many gadgets as they want.. While the consumer struggles to buy the next one.

THE SMART MONEY MAKES MONEY BY INVESTING IT – NOT CONSUMING IT.

WAKE UP CONSUMERS.

I can live like a decamillionaire too – I’ll just max out my 10 credit cards over the next month and live large. But I won’t be able to pay the bill when it comes due. That’s what the consumers have done over the past 7 years! Because they have no clue about money and they dont even know about interest rates. It’s sad!! But it’s our fault because investors haven’t wanted to teach them!

We need a money management class starting in middle school or high school, and we need folks to understand how the economy and the markets work! Then maybe they wouldn’t spend so recklessly and put themselves in so much debt.

Me? I’ll keep investing.

Just a thought, How about we do like Japan and drop interest rates to zero. This would hurt whom? The rich? boohoo…

As long As BUSH IS IN ITS GONNA BE A LONG RIDE,HOUSING MUST BE REVALUED,PRICES MUST DROP 40% or its over with,When we cannot afford a HOME AMERICA IS : A THIRD WORLD COUNTRY ALREADY……….FAKE MONEY,WORTHLESS MONEY I MEAN,GAS PRICES,ALONG WITH EVERY OTHER ITME WE BUY IN AMERICA IS OUT OF HAND,FOOD IS GONNA BE ONLY FOR THE RICH UNTIL ALL THE BANKS FAIl,THEN THEY WILL BE EQUAL TO EVERYONE ELSE…BUSH AND CHENEY NEED TO BE IMPEACHED,INTREST NEEDS TO GO UP,NOT DOWN,IF IT GOES DOWN THE RICH BUZZARDS WIN,AND the other 230 Million AMERICANS LOSE.NOT GOOD…NOT SAFE EITHER…………

We are in a recession already! Does the president sound like his father? Does anyone recall “What recession?” Tax rebates are a band aid we need jobs for all americans not just the heavily educated. We need our high paying manufacturing jobs back. My husband is loosing his job of 17 years and I fear mine will follow his. This next president needs to restore American pride by creating jobs and not just Walmart jobs!

We are in a recession – No Doubt – and it is going to get much worse.

I’m in the mortgage industry and the outlook on housing is very scary because housing and related industries are about 35% of GDP.

Changes are happening now in the finance world to make it even tougher for buyers to qualify thus shrinking an already dismal buyer pool. Which leads to declining home values etc. etc.

anyone skeerd yet?

Recession! Lets talk “DEPRESSION”! I’m an educator/entrepreneur. I teach and have recently studdied the exact parallels between today’s economy and the “Great Depression”. My advice to everyone: “go long on cash”, take the hit with taxes – cash in on some of your investments to pay off as much as possible, and buckle your seatbelts for the ride of your life!

The main issue is the Consumer and the fact that investors want folks in their own country to consume! We should have folks in other countries consume our products and services.

Just not enough people know how to invest, and they are so caught up in their little worlds of what they own and what new gadget they can buy with their next paycheck.

THE SMART MONEY MAKES MONEY BY INVESTING IT – NOT CONSUMING IT.

WAKE UP CONSUMERS.

I can live like a millionaire too – I’ll just max out my 10 credit cards over the next month and live large. But I won’t be able to pay the bill when it comes due. That’s what the consumers have done! Because they have no clue about money and they dont even know about interest rates. It’s sad!!

We need a money management class starting in middle school or high school, and we need folks to understand how the economy and the markets work!

All I have to say is I hope that everyone who elected Bush, not once but twice, is happy now!

When i had been studying biodiesel from sun up to sun down for five years from home on the internet and the big the corporations told me that I had no job without a uni degree i though this is ridiculous the economy is run by people with no passion.

Don’t sell the farm if you don’t want to go hungry. The U.S. economy and world stability are hanging by a thread.
Politicians and bureaucrats are unresponsive. Americans everywhere are fed up.
When voting doesn’t work what’s next?

WE CAN’T SPEND OUR WAY OUT OF DEBT. Nice try politicians, but it can’t be done w/o hyperinflation and then another Great Depression. Wall Streets pressure to keep ‘easy money’ is rediculous. We must decrease the govt budget. Period.

Yes, I believe that we are in the crapper. Bush wants to give us a rebate of $300 to $500. That will buy gasoline @ $3.00 a gallon for a month or two, then what? Tax rebate, bs. He said the economy was doing OK two months ago. His term was 8 years too lon. Glad when he is gone as are a lot of our rights, thanks to him. Truth is, our country as we knew it, will never be the same. I am glad I am where I am and not facing what my children and grand children have to look forward to.

Of Course we are in a Recession. Thanks to Helicopter Ben and Big Al’s penchant for creating Fiat Money and asset Bubbles we are now feeling the hangover of excessive money supply creation. Look at inflation. Look at the previous asset bubbles. Sorry America but there is no way to get out of this recession because the Fed does not have another asset bubble to create. But don’t worry the Fed will “print” our way out of this. Stagflation anyone?

How bad will it be? Picture 2001 on steroids.

The President is trying to get the tax cut with billions but that is not the answer to this econemy. This is only a tactic of physcology on consumers mind. The focus on the housing market, so the best way to stimulate or free the economey is to increase the conforming level, help freeze some mortgages…etc. The economey is not suffering, but the housing market is which dragging down the whole econemy.

Yet another article how consumers are at fault for the economy disaster! How many of your poll participants are unemployed or have mortgages adjusting to unholy rates? Cutting back on spending is the only way to ensure rentention of homes and being able to support a family. Almost everyone I know lost have their jobs the past 3 or 4 months. Ensuring the economy stays afloat by continuing to spend is not an option as there is no money to spend. In a state that has suffered staggering layoffs due to the real estate crash and job opportunities that only involve the phrase “would you like fries with that” – is it any wonder that people are cutting spending. Global trade is a good thing and hopefully with a weak dollar we can begin exporting more than we import – however how do you explain to a nation of college educated unemployed people that their student loan debt was unnecessary as they should have become blue-collar workers and trained to be lock-smiths, mechanics or work an assembly line (if there are any left to work). I can’t be a “good consumer” and ensure the economy stays afloat. I need to make sure I don’t lose my house, afford medical insurance and feed my kids.

How ironic it is that we spent billions on the war effort in Iraq and do not pay attention to what is festering in this country. Again the poor get poorer and the rich well that’s another story. Anyone who has paid attention to detail over the last 7 1/2 years should have seen this coming. Unemployment is high, and there is no more job security. Prices climb above ridiculous, but citizens who do not have any or little money will have to worry even more how they are going to feed their families? But as long as the war is going nowhere and we are pouring money into it, our economy will go downhill. The dollar used to hold its own proudly, but in today’s time nobody wants to deal in dollars because it is only worth less than 50 cents overseas. It may be time to take a long hard look at the entire situation, not only just one part.

Wake up and smell the coffee people…we are in a recession. who is at fault?!?!…well, those who gave these easy loans and yesssssssss those who “took” them. I was always thaught to alwayssss read a contract thoroughly and if you don’t understand it, get professional help. Now look at us!!! This will not hinder me as I am a saver and “LIVE WITHIN MY MEANS”..in fact, I am in cash ready to pounce on a dirt cheap second home now that my current home is payed for. Now the president is going to send out some “MORE REBATES”…her is some advice from a real life person(ME)….pay down your debt with it!!!

I’m not worried at all since I own my house, have no credit card debt, own all my vehicles and spend responsibly. I also comprehend what I read, which is severly lacking in those that anchored themselves with mortgages they could not afford, cry, and claim they didn’t know what they were signing when the took out these loans. Simply addition is all that’s required to determine if there is more month at the end of the money and these idiots will be bailed out! I advocate natural selection to weed out the stupid people because you can’t reason or argue with stupid. Stupid is as stupid does!

However, I find it amazing that the big banks that created this turmoil are getting away with this at the expense of the average Joe. They should all go to jail for creating CDO’s and other worthless paper and marketing it to investors as AAA credit worthy investments. Instead they get fired with golden parachutes only to ply their trade again.

As usual the rich get richer at the expense of the working man! Que sera sera! I for one will use this to my advantage by buying another residence from on of those idiots at rock-bottom prices.

I don’t really care. Everything I have is paid for. I make $70k/yr. I have no credit cards, mortgage or car payment. Wealth never really goes away…it just shifts from some people to others. I’m thinking maybe I’ll snatch up some companies once there stock reaches dirt bottom.

I agree with a previous comment, recession is a state of mind. When all the news broadcasts tell you that we are having a recession, that the subprime problem will not go away for some time, then it becomes somewhat of a self fullfilling prophecy. Many people will quit spending just because of what they read/heard.

NAFTA and CAFTA along with the government allowing corporate greed has sold the U.S. We produce almost nothing as our factories, labor, skills, technology, and intellectual talent have been shipped out. This attitude makes short term gain in return for economic doom. America does not even have the ability to produce its military supplies without foreign parts. A new form of treason?

I feel bush is doing to america what lay and skilling had done to enron.

You can talk 3 out of 4 people into believing anything.

UNTIL WE GET OUT OF THE MIDDLE EAST INCLUDING IRAQ,AND SPEND MONEY IN THIS COUNTRY INSTEAD OF IRAQ & AFGHANISTAN,WE WILL ALWAYS BE IN A RECESSION. I HEAR PEOPLE COMPLAIN OF EARMARKS, WHAT IS WRONG WITH EARMARKS WHEN THE MONEY IS SPENT IN THE COUNTRY. WE SPEND BILLIONS FOR SCHOOLS AND BUILDINGS IN IRAQ THEN THEY ARE BLOWN UP, AT LEAST IN THIS COUNTRY, THE MONEY WILL KEEP EMPLOYMENT UP. THE WHOLE PROBLEM WITH THIS COUNTRY IS GEORGE BUSH. HIS FATHER KEPT SADDAM IN AS A CHECK AGAINST IRAN, AND HIS SON TOOK SADDAM OUT AND NOW LOOK WHERE WE ARE WITH IRAN. GEORGE BUSH IS THE WORST PUBLIC RELATIONS PERSON IN THE WORLD. THIS COUNTRY WAS IN GOOD SHAPE UNTIL THE BULLY BUSH BECAME PRESIDENT

WAKE UP!! we have been in a recession for the last 12 months. Homes set empty and cant sell.New Auto sales are down to almost zero.Gas oil and all products cost more ,and all taxes are higher,and our great leader says a recession could happen.

Recessions happen periodically. I’m not worried at all. We’ve been through them before. The only thing that worrys me is that no one in Washington cares about defending our southern border from invasion!

I think this is going to be the worst economic setback since 1929. In 1932 25% of the labor force was unemployed but almost a third of the country were farmers or grew a substantional amount of their own food. Much of this food was given to relatives who did not have jobs. TODAY less than 3% of the population are farmers. So the banking system simply cannot fail like it did in 1929 or over 90% of this country will not be fed. This government knows this but the price to keep these banks solvent according to our Federal Reserve Chairman is 150 billion TODAY.

But will this money be spent TODAY?

The Democrats certainly aren’t going to agree to Bush’s tax cuts because that is money going to the rich.

Every day this spending is delayed means more money must be spent.

My thinking is that by the time all agree how to spend, then half a trillion may be needed to shore things up and this will ruin the value of the dollar substantially.

But as the dollar goes down in value then our exports will be more favorably priced to the rest of the world and things will once again return to a normal balance.

Daniel P. Fitzpatrick Jr.

I have faith in American ingenuity and our ability to design and implement new ideas and endeavors. Our freedom unleashes us and competition spurs us forward. Sometimes you have to destroy the old to create the new. A recession could be the spark needed that leads to the creation of products and industries never before conceived and unparalleled in thier ability to meet not only the current economic needs but those of our environment and long term sustainability.

You have to be a total idiot to realize that this just happened. Lets see, free trade means we subsidize the growth of other countries. If you travel around the world you quickly realize that what we earn in wages, is higher than rest of the world. This means, how can rest of world buy our goods if they don’t earn nowhere near what we do? (allright, exclude some countries in Europe and Canada as their disposable income is ok). Adam Smith must be having a meltdown when he sees us violate every principle mentioned in the “weatlh of nations” book he wrote. Trade with China/India, countries with huge populations, and even if currency if free-floating (thinking of china) the ave income/wages of its citizens will always outweigh ours and western world. We should outsource some things to mexico instead of china, at least fewer mexicans will come here looking for work. Also, we should closely monitor our borders not just talk about it. Bush will go down as the worst president in history of America.

The greed of the leadership of the financial sector of the US economy has caused all this. They all got their bonuses the past years moving credit deals no mater how fundamentally risky they were. The house of cards is now collapsing. We all now pay one way or the other.

We’ve never in our nation’s history had the amalgamation of negative issues that we face today; a weak and weakening dollar, horrendous deficits, huge Federal and personal debt, wrecked credit markets, sky-high oil, an expensive war, a lack of respect throughout much of the world, the very real possibility of de-investment in the US Dollar as we lower interest rates and finally a morally-bankrupt society. I wish it were only a “recession”!

This appeared on Money.CNN under TOP STORIES: Recession fear is taking root: Poll

This appeared under NEWS: Stocks bounce after steep selloff
Wall Street recovers on IBM and GE’s earnings and a rise in a consumer sentiment index…… In economic news, the University of Michigan’s January consumer sentiment index rose to 80.5 versus forecasts for a drop to 74.5. Sentiment stood at 75.5 in late December.
Conflicting reports, both on the same day on MONEY.CNN
The market was up after the “good” news, down after the “bad”.

Our recession, everything is directly tied to the rise of the gas prices. It lowers our disposable income, causes a rise in the price of goods. Something needs to be done to overturn the rampant increases in gas prices. Its really bad when it costs more to fill up a tank of gas than to buy a weeks worth of groceries. The proposal of a tax rebate is only a short interim fix in an attempt to jump start the economy, but it really doesn’t solve our broad economic issues at hand. If our govt can’t do anything to curb gas prices which have a direct influence on our disposable income and directly influence the increase in cost of goods, then the govt instead of handing out some cash rebates should probably do more to cut tax rates on lower income tax households. How about cutting the amount of tax to govt has per gallon of gas to try and get a handle on prices. Recession is emminent if not already here of some good decisions aren’t being made.

“What goes up… must goes down!”

However, with the helps and mechanism from both government and federal reserve, we will not be in the recessions. This may be a right time to invest the money into bonds and mutual funds… remembering when the stock markets were down after September 11!!! They all go up after that…

The only way you are getting a dime out of me is to pry it from my cold, dead fingers.
If they send me a tax rebate check, I am signing it on the back and sending it to the IRS.

We are at the mercy of oil prices; we are in a never-ending, money-draining war in Iraq and rattling sabers elsewhere; and jobs continue to disappear overseas or just disappear. Tax rebates will just be used to pay off the usurious rates charged by credit card companies, which is not putting productive money into the economy, and lowering interest rates is too simple a “solution” for a wide array of very complex problems. In sum, a mess and probably going to continue so for a number of months, if not a year or so.

Years ago I had a teacher that said, “You can pay me now, or you can pay me later”.
During the past decade, the US economy has been in pay me later mode, now we are transitioning into pay me now mode…which is, of course, much less fun.

Does it matter now? We are already in a recession. And yeah, we already cut cable, cut back on cell, drive less (walk more), eat home more, etc…

Do we need to? No. But who knows? Our jobs may go any day and then we will be glad we were proactive.

A recession is real when you fear for your job.

My concerns continue to mount over the economy. Our politicans are in another world. Congress has the guts to give themselves another raise. This is crazy. Something needs to done quickly to prevent a recession in 2008. It was just a few days ago that Bush said our economy was on a strong foundation. Am I missing simething?

Recession? The recession is happening because we are willing it to happen. It is a product of our own wall street investors that looking to pad their bonuses on their stupid investments in sub-prime mortgages. Now they want the Fed to bail them out and make them some money. They are talking us into a recession, making people scared about the future.
The reality is our economy is showing signs of being healthy, not sick as many would have you believe. Look at commercial and industrial lending. Look at consumer spending. Look at the unemployment rate. The economy will rebound soon!

I’m not worried. It’s not prudent to worry. My concern is that this is a calculated move by the banks to entice citizens to vote with their wallets and not principles. It’s my hope that people will vote for liberty and freedom and not false hopes of money. Money has never been the answer.

Everyone ignored our problems in the auto industry here in Michigan. The workers are overpaid already, right? Relacing manufacturing jobs with service industry positions paying half as much takes $ out of the economy. Take your buyout and leave the state. Where do you go if it similar downsizing, emoploying illegal aliens at slave wages, and outsourcing happens in all states? Why is it OK for an executive to be paid millions and an honest worker can’t be paid a fair wage?

This is all the media’s fault, like people say. The Media is going around, planting “for sale” signs on people’s lawns, to make it look like a weak housing market. The Media went the major homebuilders and told them to stop building. The Media then went to the Middle East and said “raise the cost of oil”! Then the Media went to major US corporations and instructed them to stop raising salaries back in the 1990s. I agree, the Media is working behind the scenes to make this a recession. Gosh darn Media!!!

Dont worry, we’ll be joining you soon in recession land.

Oh and we pay £1.10 GBP a litre (Diesel)atm so thats about £5 GBP a gallon

I feel like it is related to the gas prices. I don’t think it is going to get any worse than it is now though, hopefully the government will take some action and we will stop living in fear.

I think we’re on a path to recession and I am concerned as U.S. global trade efforts also effect other economies. The backlash has an affect our our investing. If America’s export/import trade declines, then the overseas markets will bear declines as well.
The markets are roiling and creating anxiety among American consumers. I would like to see US Government’s help to bring stability to the markets. Many American’s are relying on their 401-K and other investment plans for their retirement age funding and the markets are now affected, as well as day to day living expenses seem to be experiencing inflation. I hope we get help now from the Fed.

When large items like homes become more expensive rate increases have more of an effect.

Thus when the Fed Chairman sees that the economy is hot, then he should start increasing the rate by a smaller amount like 1/8 of a point.

The economy seems schitzophrenic, because the shift from good times to bad happened so fast.

I would even recommend 1/16 point increases when the economy is hot, because inflation can be controled easier by tax incentives to companies that can make a product cheaper and faster thus brining down its cost to consumers.

David S.
KentuckyTechnology.com

I think what we’re seeing is the fallout from a society that has overextended in what it can afford. This is a painful, and needed, lesson in personal finance that will shake out and we’ll be better for it. I appreciate Congress for wanting to give rebates as a stimulus, but I’d prefer the government, too, reduce spending and become fiscally responsible like consumers should.

I JUST HOPE EVERYONE WILL REMEMBER WHICH ADMINISTRATION WAS IN POWER WHEN THESE IDIOTIC LOANS WERE MADE.

My wages have not increased in years, my employer is losing money and I scrutinize every purchase I make. I really think things are going to go straight in the toilet very soon. $800 per taxpayer is not enought.

Government w/GAT and NAFTA agreements
Corporations taking jobs to other countries
Middleclass paying 70% of taxes
Oil price manipulation
Housing foreclosure because of lose of jobs and income level
Last but not least foreign countries coming in and buying up our businesses and property.
YES, WE ARE IN A RECESSION!!!
Stimulus package???? you’ve got to be kidding

Hmmm lets see, we have CEO’s in this country that get paid hundreds of millions of dollars in bonuses when their company loses money. The average worker has been getting 3-5% a year in raises and, judging by the savings rate, spending everything he makes. Gas and food prices have outstripped the average joe’s income, not too mention the poor investment banks robbing the middle class blind during the housing boom years. All this while nobody has been paying attention to a consumer that is overburdened, underpaid, and fed up. The economy is led by the consumer, and employers have not taken the steps to be sure that money gets back into the pockets of the consumer via wages and bonuses. Remember the news story a couple of years ago…WAllstreet Bonususes? Now we will reap what we have sown. 1/2 point by the Fed isn’t going to do it. A temporary tax cut isn’t going to do it. The corporate warriors have ransacked the consumer, raped them of their homes the last bastion of wealth, laid them off, and left them in the streets. What did you think they were going to do, go out and buy a new car? tv? pay the never ending, always climbing cable and telephone bill? This recession has been coming, now it will be in a neighborhood near you.

Yes, we’re probably in a recession but for the smart money, recessions are also an opportunity. Just look at the folks who bought real estate in 01 and 02. They are still up. Stocks in ‘02 were a steal. MCD @ 12, GLW @ 2, etc etc. You’d have made a fortune.

The problem in this country is not enough folks understand how money works. Why isn’t there an economics or money management class in high school? It’s the most valuable peice of intellectual capital we have, yet 90% of the population has no understanding of it.

I am hoping that this is the year America can turn away from defecit spending on our personal balance sheets and people can learn to invest their money instead of consuming it. Let us be the investment nation we once were and let developing nations be our consumers. Don’t save your money this year – invest it where you see the opportunity.

A man made recession yes. Watch what happens as soon as the Democratic party doesn’t need to spread that word anymore. I go to restaurants, malls, club, and I fly frequently. All of these places are packed and every flight im on is full. Where is the recession. I am taking every extra penny I have and sinking into the stock market. The lower it goes the happier I am. When the election is over and the idiots have elected Hillary/Obama into the white house. The stock market will soar and I will be much better off. On second thought, maybe I should agree that we are in a recession and keep the myth alive. More for me at the end of the lies.

It is true the economy has some problems. The news makes it seem like we are all 5 days away from starving! It all a manipulation of our minds in order for the new president to come in and say “look what we did with the economy” I can not believe we buy stock in the news and believe this crap. If we had done what we were supposed to do and save money and not spend to extreem excess we would all be fine.

when our politicians cannot tell the difference between the Treasury Secetary and the Chairman of the Fed it’s no wonder they use the “r” word – they probanbly cannot spell recession much less recognize it or solve it.
let’s not spend 100 million $s sending out letters and checks with a refund/rebate. why notjust give a one time tax credit on 2007 tax returns: if you’re entited to a refund you get xx $s more, if you owe it’s reduced by xx$s.

Lets get down to basics. America has gotton so far away from God that more and more recessions, famines, disasters etc are happening. Thelord says if my people who are called my my name will humble thrmself and pray, seek my face and turn from their wicked ways. Then will I hear from heaven and heal their land. This is from the Old Testament.

I have lived through economic conditions far worse than what we are experiencing now.

By biggest fear is that the government, in its bid to DO SOMETHING, will simply make a bad situation far worse. For example, a “stimulus “package increase an already huge budget deficit. Combine that with lower interest rates from the fed, and watch the dollar plummet even further and inflation become a serious hazard.

By the time economists agree that a recession is under way, it has been with us for about 6 months (two consecutive quarters of negative economic growth). This feels like every recession I can remember. As a retiree, I am very converned with how this downturn will affect my future income. I blame the greed of people who insist on loaning money to those who cannot repay it and to the people who take those loans without verifying they can make the payments.

we americans have been living more than what we can afford, hence driving ourselves into debt, we are heading towards another recession. ant believe the stock market has tanked almost 10% in first 15 days of this year, not a great start at all.

We most certainly are in a recession and have been since late 07′. It is my opinion that lowering rates will not help at this point as the lending guidleines have tightened up so much that unless you have a 700 FICO score and 80% or less loan to value ratio, you will not be refinanced. So if people cant lower monthly spending, the next logical solution is LOWER THE OIL AND ENERGY COST!!! I have heard rumors the government wants the consumers spending $4.00 per gallon on fuel. If that or the prices we have now dont go down, The crime rates will continue to rise until we are in a depression…

We’ve been in a recession the whole Bush presidency. It’s taken that long for the banks to destroy the housing and credit markets. Why banks would lend to people who didn’t qualify amazes me. It’s greed at its worst, and now the average person is paying the price for this. The economy and these companies deserve what comes from the fall out because they are the ones that caused it. We can only blame the consumer so much.

Am I worried? No. We’ll come out of a recession as we have in the past. It’s the nature of the beast, but it would be nice if Congress passed a stimulus package that gave us regular Americans a kickback.

I think it’s important for people to curb their spending but not overly so. I think that the media and the market make more out of things than they really are.

And another thing – let’s face it. Some people are getting rich at the expense of others which is why we are where we are. And that is what really makes me sick!

Too many americans have been living beyond their means for too long. Now they have to pay the price. My husband and I are debt free and are running a business without borrowing any money. We have saved for the last 15 years and have no worries. If people would stop being so materialistic and start saving, they would not have a problem paying a little more for groceries or gas. How about taking care of ourselves instead of relying on the government!

I believe that we are already in a recession. Personally we would like to tighten up our spending for 2008. I am not sure if the Fed rate cut can save the economy, becase this broken-bubble was raised by former Fed rate-cut. There might be something wrong with the economy. Free trading has benefited US a lot before because those large corps. have made lots of money from that. Now it might just be the payback time.

We are near a recession and the politicans, who are in bed with corporate america, are selling our souls to the devil. We as citizens need to be alert and take back our country. America, wake up!!!

After I get my $300, I will go out and buy a Korean television, and that will put an end to the recession. My salary will then increase, my home equity will double, and the DJIA will hit 20,000. Cant wait for my $300… thank you Bush you rock!!!

WOW, last week all the Repbulican candidates stated that we were not in a recession, with the exception of one, Ron Paul. Even the current Pres did not want to address it, do we really need another politician in office that has their eyes blind-folded. ( this is not an endoesement of Dr. Paul) But at least he was telling the truth and and being up front. Even an ind. with limited business sense could see this coming with the down-turn of the housing market and the over-inflated price of oil. The Pres still refuses to haul in the Big Oil companies and get them under control, but instead go pander to the Saudis (whom 19 of the hihackers on 9/11 came from. Maybe the big oil companies can give some of their windfall profits to to the government to revive it (or maybe Arnold can get more money from Indians, his only solution to every money crisis).

I dont give a s***. Recession is a state of mind.

The greedy corporations and elites will now reap what they have sown by pushing the majority of Americans to the edge of financial ruin. Do the math – most jobs no longer support a middle class life. The ship going down, and there are no lifeboats in site.

Recessions usually last only 10 months, and they begin and end without warning, not when the talking heads say they do. Its likely that we have been in a recession since October. Im keeping a long term perspective and maxing out my IRA’s now. I cant see a better time to do it.

How worried am I? Plenty!! My portfolio is down 10% in 2 months, the cost of my graduate studies goes up every semester, my health care premiums went up again and gasoline prices are $3.25 a gallon. So my friends, here’s my question. How long can YOU tread water!!!

The companies that are shipping our jobs overseas are the culprits!Cheap labor in other countries keeps their economy going not ours!GM in Mexico?We get what we pay for!Sell your cars in Mexico too.Well paid American workers are the only thing that can keep this country strong!

If the media would quit sensationalizing “Fears of Recession” everday, the average American wouldn’t be that overly concerned. It’s the typical over hype scare tactics of the media that fan the flames of fear stampeding the population over the cliff.

i think we are in for some real problems

How worried? I’m rather worried that I’ll lose my job. It won’t be the first time (I was out of work during Bush’s first recession), but I’m afraid that this one’s going to hurt. Fuel prices are high, there’s a glut of houses and that puts a damper on construction, the sub-prime problems are leaking into the consumer credit area, but the biggest problem is deficit spending. We are so in debt, it frightens me. Foreign countries are steadily buying our companies. That can’t be good.

HELLO!?!?!?!?!
This hit about 3 years ago and is still going DOWN.
I pray that we will still be here in 3 months.

I think that a recession is likely if not already here. However, in a period where “cash is king”, 2008 could be a year with a lot of potenital for the cautious buyer willing to take a 2-3 year approach to future investing and buying companies that are otherwise strong in their business model and balance sheet.

I’m very worry because I own a small nail salon for living. I’ve seen my clients are cutting back quite a bit on this luxury expense.

bad time has started

I believe we have been in a recession since 10-08 even though we haven’t been through 2 quarters of contraction. Maybe we need to change the way we describe it. We are in very serious times. The gov’t and the Fed must act now, not weeks or months from now. We need to give the consumer hope that the economy will get better, hence, more spending.

Recession? LOL…its already here…politicians and financial geru’s are so out of touch…

I’m recession proof. I’m completely out of debt and I don’t live in excess. I’ve taken control of my career and I dont rely on the government for anything at all. I can absorb price increases because I’ve saved for rainy days and I live my life with the expectation that there will be ups and downs in the economy.

We are in recession now. No “spinning” or “quick fixes” will take away the fact that the US has spent most of its treasure on war and has no equity left to show for those dollars.

I feel as a country we are selling are
hearts and soul to other countries. We need to realize and take responsibility
for our own mistakes and start taking care of Americans, instead of worring
about the rest of the world.

now that the media has convinced me there is a recession – I guess I’m worried, however, frankly I don’t feel it.

I don’t believe that Free trade in itself is hurting the economy. What does concern me is that the price of oil no longer looks like it’s following supply-demand fundamentals. When speculative investors can drive up the price of oil with little to no supply or ACTUAL geopolitical pressure, it has the potential and danger to do far more damage than the current credit or housing crunch. I’m all for free trade and letting the market determine the price of a product, however when a product is an energy source, there needs to be some type of regulation or protection in place to keep such dramatic price swings in check.

Recession is here when milk is at $4 a gallon, gas almost $4 within a few months time, and real income has not grown for years!

We need to learn to COMPETE ON A GLOBAL SETTING, not just within our borders. We did it to ourselves.

I think that with the world economy being as strong as it is, America will also do well. I think we have over done our worries because of the bull market over the years. Look for stocks to rise, once we get done talking ourselves into a recession.