Americans - When it comes to the current economy...
By trish32
@trish32 (1471)
United States
July 4, 2008 10:14pm CST
how worried are you about it? With the high costs of gas and the ever-rising cost of grocery items, airfare, etc., how worried are you that you won't have enough money to maintain your lifestyle, or put back money for the future? Are you concerned that we're headed for another recession?
1 person likes this
7 responses
@gem4678 (220)
• United States
5 Jul 08
I think everyone is worried, however as my mother in law was telling me is that this has happened before and will probably happen again but eventually we will pick back up, this should be a wake up call for all of us to stop being so wasteful, but unfortunately we don't usually seem to learn from our mistakes as a nation. I think the sad thing is our fate lies in the hand of the rich (politics)and until they start seeing the big picture and truly doing what is right instead of what might look good or benefit themselves and giving themselves raises instead of putting the money back out there to the people we are all screwed. Hopefully the next president will try and do this, even though I doubt they will. Good luck to all.
1 person likes this
@trish32 (1471)
• United States
5 Jul 08
From what I've learned in college classes that I've taken your mother-in-law is absolutely right. This has happened before, and from the cycles that our economy seems to experience, will likely happen again, just as your mother-in-law said.
I agree with you that we, as a country, need to start being more careful with our resources, including our money. We need to learn how to conserve more energy, save more money and start a trend for the future in doing so. Perhaps 'we the people' need to start demanding more of our politicians instead of naively taking them at their word. If we were to take action when we see that they're not doing the work they promise to do then perhaps they would perform better. The typical worker is constantly evaluated based on their performance. If we don't perform we don't get raises or promotions, and sometimes even get fired. Perhaps we need to start evaluating our politicians the same way.
1 person likes this
@anniepa (27955)
• United States
6 Jul 08
Your mother-in-law is right in that we've had economic downturns before and things have always picked back up but I can honestly tell you this is the worst I've seen in my lifetime and I'm 55. My mother grew up during the Great Depression and she says things are actually worse now than they were then in many ways. I'm hoping people are finally starting to look at the big picture in some ways. I heard today that the top selling vehicle is now the Honda Civic so people are finally getting away from their gas guzzling SUV's. I'm not criticizing anyone for wanting whatever type of vehicle they want but I just don't know how they can afford to put gas in them!
Annie
@bunnybon7 (50973)
• Holiday, Florida
5 Jul 08
of course everyone is especially worried. most worried are people like me thats on a fixed income.
@mynameismine (771)
• United States
7 Jul 08
I'm very concerned about it but not necessarily for my family because we have always lived below our means so our debt is not as great as it could be and we are very self reliant. My husband seen this coming for the last 20 year and we have been ready for it for a very long time, this isn't an overnight occurrence, it has been happening slowly for a very long time but people don't tend to notice the little changes until they snowball into a massive avalanche that nobody can run from.
I think a lot of people in American have become so comfortable with having everything within their reach that the idea of it not being there is going to scare them very badly and possibly hurt them financially too because they don't know how to put their wants behind their needs.
As far as a recession I'm not sure that we will go that far down but I think we might get awful darn close.
@trish32 (1471)
• United States
7 Jul 08
Being proactive is always a good thing. I agree that many people in the U.S. are used to all the creature comforts that have been taken for granted for so long that they feel a greater sting from the current state of the economy than others who have not become so accustomed to living a lifestyle that is so comfortable. In the U.S. many of us have become quite materialistic, seeking instant gratification in the form of material goods and convenience services. I grew up in a poor household where we had only the essentials. I learned early on that it's best to be frugal, put back money when possible and always be prepared so that if something bad happens or the economy takes a downturn then I will have what I need. This is not to say that I don't feel the impact of the current economic situation, but perhaps I don't feel it as dramatically as others do.
Thanks for your response!
@fifileigh (3615)
• United States
5 Jul 08
yeah...i worry that it might be another recession or even depression...The Great Depression of 2008...this mess could get worse...just get more practical and budget life
@trish32 (1471)
• United States
5 Jul 08
I don't believe that we're headed for another depression, but definitely see where recession could be in play. I think the answer is that more of us need to really take control of our spending, be more frugal with our resources and set a standard for future generations to follow. If we weren't so frivolous for so many years then we may not be in the situation we're in right now.
@trish32 (1471)
• United States
6 Jul 08
I seriously hope that something is done to bring the price of fuel down sooner rather than later so we don't have to see $6 or $7 gas/diesel. I imagine living in CA you see much the same we do here, with fuel prices fluxuating a lot during the summer with the heavy tourist travel. Our fuel prices rise starting with spring break travelers and stay high through Labor Day weekend.
If you don't mind me asking, what kind of novels do you write?
@fifileigh (3615)
• United States
6 Jul 08
i rarely shop when the economy is good. i am too busy working on my novels that i rarely see stores until i run out of food and go to the grocery store...
last week, gas prices were $4.60 in california and i didnt even fill up...i am sure it is higher this week...havent gone yet..
i wonder how much will the gas prices be by january 2009? i am guessing $6 or $7 per gallon...
@sdmoonchild (731)
• United States
6 Jul 08
I am worried about it. I have had to cut back on many things and just buy what I need. I fill up at half a tank now to save a little bit of money but this needs to end soon. I think we are headed for a worse scenario than a recession,I am thinking it will be like the Great Depression of the thirties.
@trish32 (1471)
• United States
7 Jul 08
I understand how people can feel so pessimistic about our current economy. What is it that makes you feel we're headed for another depression like the Great Depression? I'm concerned about the economy but don't feel that we're headed for a depression. I'm just trying to take in everyone's opinions and thoughts.
@stagewhisper (901)
• United States
11 Jul 08
I'm not particularly worried about it. Granted, I'm a college student who lives on loans, so a bit more debt doesn't seem that much to me at this point in my life. However, I also know that these things happen, and these things pass. It may take ten or even twenty years, but things will improve right back. As long as we don't get too much worse, I'm happy. 
@trish32 (1471)
• United States
13 Jul 08
Many of the older folks that I know have said that the state of the economy now is quite similar to what they've seen over the years and that it's nothing to worry too much about. I also know from what I've learned in college classes that I've taken that the economy goes through cycles, and it's to be expected.
I think the best thing for all of us to do is not worry too much, spend wisely, save wisely and be optimistic.
Thanks for your response!
@anniepa (27955)
• United States
6 Jul 08
Well, I'm not concerned that we're headed for another recession because we're already there, big-time, no matter what the so-called experts say. Statistics and numbers don't mean a thing to the average family that can't afford food and gas. I'm way beyond worrying about having enough money to "maintain my lifestyle" and putting back money for the future is a vague and faded memory. I'm seriously SCARED, not worried, that we're headed for some of the worst times we've seen. I don't mean to be so bleak, but I really worry about families with young kids and about elderly people on fixed incomes. Heck, the upper-middle class is struggling this time so it seems like the only ones who are immune are the very wealthy. Unless something major happens soon I can't see anything happening other than that it will spiral totally out of control. Prices will keep going up on everything because of energy costs, people will stop buying anything other than the barest essentials which will put more people out of work which will lead to more people being unable to buy anything; this is what "trickle down economics" really looks like and it ain't a pretty sight!
Annie
@trish32 (1471)
• United States
7 Jul 08
I can definitely understand why some people are seriously scared about the current situation in our country and the prospect that it may get worse. I don't share your bleak perspective, though. I admit the situation is not good, but don't believe we're headed for much worse times. I think it may get worse before it gets better, but not much worse. I think much of how people view the current economy depends on what part of the country you live in, too. I know where I'm at the price of gas has gone up quite dramatically, but not as dramatically as where my mother lives. Our groceries have gone up more than where my mother is at, so we're feeling the pinch a little more than she is, as her gas prices are higher than ours, but not by enough to make them feel the financial pinch as much as we have. Just a theory.
