Is another recession coming?

[ShellyLynn3630]

I thought I heard on the news either today or yesterday that someone or some big economic company was going ahead and predicting another recession to come soon. Did anyone else here of this or I am losing what little mind I have left?

 

[starry_solo]

I heard about it last week, although, I don't think we actually even exited the last recession!

 

[ShellyLynn3630]

I heard about it last week, although, I don't think we actually even exited the last recession!

Ya, I know what you mean, I was just trying to find out who was actually "predicting" it. I admit, during the "first" one I really was'nt that worried, but I am beginning to with a possible "second" one.

 

[kydisneyfans]

I think there is something to it also.

I work in a travel industry and things looked up during the spring, but the past 2 weeks have come to a screeching halt. I don't know if it is the increasing gas prices again(I think so personally), uptick in unemployment, or just a 2 week dry patch, but things have definitely slowed again.

My personal opinion is that until someone gets control of gasoline costs, the economy will not recover.

 

[tavettava]

Still in the recession here. I don't see Michigan coming out of it anytime soon.

 

[Muushka]

Yes, I believe we will have a double-dip recession.
I hope that is the worse it will get, but in my opinion, I fear depression if things don't change.

 

[smitch425]

There is a government shutdown looming. We narrowly (by mere hours) avoided a shutdown in April, but they came through with a budget plan to get us through the end of September. As I understand it, we have reached the cap on our loans from foreign countries (China mostly). The government will need to decide to increase the cap, or they will need to decide how we will afford to pay the loans either by a tax increase OR cutting major programs (like Social Security). If both sides (reps and dems) do not come to an agreement in time, the government could shut down for MONTHS. It is a very scary time in this country, and I agree with the PP that said we have never recovered from the CURRENT recession.

 

[Colleen27]

Another? From where I sit the first one ain't over yet!

 

[poohbear22]

Another? From where I sit we haven't been in one.

 

[DawnM]

Honestly, I think it could get much worse. When the country is living on credit and borrowed money, there is a problem.

I am not counting any chickens, but I don't think DH will need to worry about his job.

However, our house's worth could certainly plunge even further and goods could become very expensive.

Dawn

 

[OceanAnnie]

Yes, I believe we will have a double-dip recession.
I hope that is the worse it will get, but in my opinion, I fear depression if things don't change.

Hi Muushka.

As usual I agree with you.

I hate to say it, but the economy has the potential to get much, much worse. The likes we haven't seen in our lifetime. I hold out hope that this will not be the case.

 

[Sinderelly]

I thought things were getting better. Alot of new jobs around here and gas prices are coming down

 

[charming23]

I honestly believe it is going to get much worse. The government had such high hopes that the June jobs report was going to be so much better when it turned out to be much more dismal that anyone thought. With the rising cost of everything it is going to be very rough here for awhile.

 

[Ciciwoowoo]

I think Michigan has been in a recession since the late 90's... um, can we call it a depression yet?

 

[snarlingcoyote]

There is a government shutdown looming. We narrowly (by mere hours) avoided a shutdown in April, but they came through with a budget plan to get us through the end of September. As I understand it, we have reached the cap on our loans from foreign countries (China mostly). The government will need to decide to increase the cap, or they will need to decide how we will afford to pay the loans either by a tax increase OR cutting major programs (like Social Security). If both sides (reps and dems) do not come to an agreement in time, the government could shut down for MONTHS. It is a very scary time in this country, and I agree with the PP that said we have never recovered from the CURRENT recession.

I think everyone has to buckle down and realize we can't leave some of the tax cuts of the past 10 years in place AND that there will have to be spending cuts, including some to folks that really can't afford to have their money cut if we don't want to see something catastrophic happen.

 

[fkj2]

Last summer I worked per diem as a home health nurse. Not this summer for two reasons:

I injured my neck in May and 2) I could probably physically work now BUT there's not enough of a caseload to justify making myself available, requiring me to let even more projects go at home.

As soon as I get a few things caught up there, I've got to get out and beat the bushes for something...anything.

The insurances are restricting the number of visits. No visits, no income. Simple as that.

Add in the effects of this drought? Scary.

 

[LoveBWVVBR]

I heard about it last week, although, I don't think we actually even exited the last recession!

I know, right?! Aren't we still in the last recession?

 

[nunzia]

Hi Muushka.

As usual I agree with you.

I hate to say it, but the economy has the potential to get much, much worse. The likes we haven't seen in our lifetime. I hold out hope that this will not be the case.

d..i..t..t..o..

 

[Disneyliscious]

I totally agree that we have not seen the worst yet, by far. Before all this is over we will see the public reacting with survival tactics in the masses. I am SO glad I am past my child-bearing part of my life. There is NO WAY I would bring a child into this world we live in now.

 

[rabonic2]

I agree. We are entering a double dip. I love your tag line... Where is John Galt? I am reading that right now.

Yes, I believe we will have a double-dip recession.
I hope that is the worse it will get, but in my opinion, I fear depression if things don't change.