Is this recession feeling more like a depression?

United States
March 3, 2009 8:39am CST
If you have been around lately you would clearly understand where in a recession. The uneployment rate is around 7.6 percent and growing.The stock market is in shambles, and lately federal reserve chairman Ben Bernanke said "the recession is serious, financial conditions remain difficult". This all indicates to me that we are heading towards a deppression where unemployment will reach well above 10 percent. Do you feel we are heading towards a deppression?
2 responses
• United States
3 Mar 09
Hi there dfalero003, I myself realize there has been a lot of talk about the recession going on in the US. To me I try to over look it because it makes me get depressed, I know things are tough right now but I also see this as a chance to create unique jobs and time for people to start new businesses as well. I am not sure if we will fall in a depression to me I see things getting better for some and harder for others. To me it is all how you look at it. You can look at is as an oppurtunity or you can look at it as a problem. I am tending to look at it as a good thing and a way for me to create my own job and work for myself which is what I love. No boss and no time clock, I work when I want to and make as little or as much as I want. Sometimes I feel like people are being greedy as well, I live off very little money every month and I am still surviving. I pray and cut croners every month and have been for 1 year. I know this is my opinion but this is how I feel about the recession. Take care and happy mylotting to you,
@benny128 (3621)
3 Mar 09
well here in the uk we are feeling the effects well not me personally but I know alot of people who are really worried. Personally a recession is a time to make money it gives you a perspective and a drive that you normally wouldnt have when the economic times are better. I have a few friends who have lost their jobs and are now re-training to do the job they have always wanted to do. Use the down turn to your advantage if you can and dont worry it will all work out in the end.