What do you think about the downfall in the economy?

@rajfoe (354)
January 13, 2009 12:05am CST
Hi friends what do you think about the downfall in the world's economy, do you think that we can get back the economy and stabilise it. There are a lot of problems arising for the common people due to the recession, there are job cuts also. What do you think friends, can we get back the economy. happy mylotting.
1 person likes this
7 responses
@dlr297 (5409)
• United States
19 Jan 09
I hope so. This is the worst ive seen it. My husband has been in the construction business for about 30 years and this is the first time he has been without work. It cant last to much longer, and my prayers go out to thoes that it has hit the hardest.
@djonghs (560)
• Indonesia
13 Jan 09
Yes, it will. It just a matter of time. Just remember something that goes down must come up and something go up must come down. There no such thing that will stay on its state forever. BR.b
@derek_a (10874)
13 Jan 09
I think I have got roped into the negativity about the world's economy coming from the press and newspapers. It does tend to drag me down a little. But I haven't lost my optimism about making improvements in my life, even if it means that I am tightening my belt. :-) Derek
@dragon54u (31608)
• United States
13 Jan 09
The only way to avoid another downfall is to change peoples' attitudes, at least in the U.S. Our media has people believing that everyone should own a house--they call it a "home" in order to attract people to the idea--whether they can afford it or not. Young couples run to buy a house and don't even save up a downpayment. I remember when people would save up money for a downpayment, some extra just in case something awful happened and they couldn't make their mortgage payment, and more extra in order to furnish the house. All this happened BEFORE looking for a house! Another thing that contributed is the idea of instant gratification. Do you want a recreational vehicle? Don't wait, just borrow the money and start having fun! Our culture was unwilling to deny itself anything and now we're paying for it.
13 Jan 09
Hi rajfoe, What we need is a new goverment and those who are highley paid like people who are in goverment should get their pay cuts, I don't think it will ever change with the economy for a long time and mean while we are suffering. Tamara
• India
13 Jan 09
Every generation has tyo go through a crisis situation maybe this is the one that we have to face in our life time...and those who will successfully come out of it will be richer and affluent than the rest.. coming back to your question this is a demand driven recession where the demand is getting lower and lower ..thus afflecting consumption ..low consumption is affecting profits of companies ...low profit of companies means they are cutting jobs ...thus purchasing power of people decreases ..so the demand reduces further...thus the situation becomes more and more grim and scuzzy... the way to come out of it is that consumption has to increase ..which will happen with low interest rates ..low inflation..high valuation of stocks..and the economic situation becoming a little more stable..
@kun2349 (23381)
• Singapore
13 Jan 09
Of course we can get the economy back, but alot of ple are not helping to do it.. To revive our economy to it's best, or just b4 it falls into recession, we need to spend more.. But alot of ple just dun understand the whole meaning to spending, and they just keep saving up all the money they've got.. That's not the right way, and it will only prolong the recession, or even make it worst..