So…

September 26, 2008 at 3:52 am 9 comments

I’m sure you’re all far too aware of what’s happening right now, but what do you think about the economy? I’d really like to hear your thoughts.

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Entry filed under: Thoughts.

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9 Comments Add your own

  • 1. Summermoon  |  September 26, 2008 at 5:37 am

    To be honest, I don’t have a clue on how the economy will effect me. I mean, my parents are doing things to safeguard our family, but apart from that, I don’t know much.

  • 2. Q  |  September 26, 2008 at 11:41 am

    I liked the president’s address on the new program. While I’m not exactly for more legislation, he hit all the problems right on the head and from what I’ve heard, the proposed solution is a fairly good one.

    The economy is cyclical. Everything will bounce back eventually.

    And Summermoon, I don’t know how exactly the US’s tanking economy will affect Australia, but when the US economy is down the rest of the world tends to follow.

  • 3. felicity12  |  September 26, 2008 at 7:57 pm

    I disagree with President Bush’s bailout plan. I think it is a good start, but it needs more limitations so that this won’t happen again. We also can’t inflate the market with money that really isn’t there or it’ll crash even more. For me, the economy crisis is awful but expected. After Fannie May and Freddie Mac, my parents have always prepared me that the American style of living cannot support the country. I hope that this will alert the country that we need to be more careful in what we buy and reuse more often. The economy crisis is already having a positive effect (or is it affect?) on Obama, which is making me very happy. Can’t wait to watch the debate (if it happens)

  • 4. Maribeth  |  September 27, 2008 at 6:17 pm

    There’s an economy crisis?!

  • 5. felicity12  |  September 27, 2008 at 7:52 pm

    An ENORMOUS crisis! You didn’t know?!?!? If we don’t come up with some bill in the senate, we could possibly go into a second great depression because of greedy CEOs.

  • 6. Danielle  |  September 27, 2008 at 9:50 pm

    True, Q. And yeah, I’m not sure how the U.S. economy will affect Australia but you can be sure that it will have an effect. And truthfully, from what I’ve read it’s not only the U.S. that is having these issues, though much of what happens in the U.S. does directly affect the rest of the world.

    Uh, yeah, Maribeth. There is… It’s fine that you didn’t know that though so don’t feel bad! But it is very serious. AIG, the biggest American insurance provider had to be bailed out by the U.S. government for billions of dollars, WaMu filed for bankruptcy, it’s bad.

    I’m still not completely clear on what President Bush’s plan is exactly. I do know that there are parts of it that I definitely think aren’t very well thought out (such as if the government buys peoples homes, who is going to force them out of these homes? And what are we going to do with a whole bunch of people either living on the streets or living in their homes for free?)

    Felicity, I agree. I know that it’s very awful but for years my parents have been talking to me about how th economy could not run forever on “false credit.” Eventually it would have to catch up with them.

    I missed most of the debate, but I heard that about 40 minutes of it was spent directly on the economy alone!

    And really, I think that it will be very hard for our country to avoid a second depression at this point, which saddens me greatly. And we do need some bills- desperately.

  • 7. felicity12  |  September 27, 2008 at 10:18 pm

    I saw about an hour and twenty minutes of the debate; after, I fell asleep. It was a really great debate. I think that Obama won on the economy, and it was a tie on Iraq.

    I don’t think that there will be a depression. The Dems think that they’ve got the bill done and voted on by tomorrow. I just think Americans need to spend way less.

  • 8. Danielle  |  September 29, 2008 at 12:39 am

    Hmmm… Yeah I wish I could have seen more of the debate. I know that personally I didn’t like the way Obama kept referring to McCain as “John.” This seemed a bit too informal for an incredibly publicized debate… But that’s not really a big deal. It’s just something I thought a bit odd.

    I’m really hoping there won’t be another depression but I also think there could be very high chances of it… So do you know if the bill passed? I’ve been gone all day…

  • 9. Q  |  September 30, 2008 at 12:09 pm

    As near as I can tell, the government is investing 700 billion dollars in the bad loans that brought the companies down. I don’t know what they plan to do with the money once people start paying their mortgages off, but most of the people WILL pay their mortgages off.

    I agree, Felicity. People do need to spend less, and instead of buying all they can afford, should buy only what they can easily afford.

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