What is the mind set of Americans now... in taking the recession?

India
February 15, 2009 2:49am CST
.. Its been a turmoil since the outburst of sub-prime crisis.. and since then the US Govt has tried various strategies.. Rate cuts, Stimulus packages,concept of bad banks.. Guaranteeing the functioning of several companies like Meryill Lynch.. . and several stringent measures to put the economy back on rails.. and even a new president.... Now my question when at the onset of these problems most of us, including me thought that this problem would end soon.. and the seriousness of the economic crisis was not understood.. And What do you think now about the present economic situation..Do you still believe the Global melt down that is being experienced will end soon? Or, you have a clear mind set that it will take years together, at least 3 to 5 years before the economy is back on track. What is your mind set now on this? Thanks for sharing your views.
1 person likes this
2 responses
@faith210 (11233)
• Philippines
16 Feb 09
Hi saivenkaat dear! Well, I may not be an American but I do think that everyone is being affected by this economic melt down. I do believe that we still are not safe this year and that we have to tighten the belt and to live frugally if possible and spend wisely. I do hope however that within two years, we will all be able to pick up the pieces slowly..maybe slowly but hopefully steadily rising. Just my thoughts! take care dear friend and blessings to you always! lovelots..faith
• India
16 Feb 09
Well said friend..as always your response is much valued..and what i feel is that worst of the economic crisis is still to come.. and only then there will be a stage set for recovery.. A full recovery of this cycle will be mostly complete only by 2012 only. From 2010 onwards the recovery will be slowly started..
1 person likes this
@faith210 (11233)
• Philippines
17 Feb 09
Hi dearest friend! Thank you for the nice comment. I do agree with you and I am hoping that things won't really be that difficult for all of us in these coming days financially. lovelots..faith
@stephcjh (32327)
• United States
15 Feb 09
I think it will take several years for the economy to get back on track, if it ever does get back on track. I think it is too far gone and there is too much corruption in alot of the government people's minds for it to get much better any time soon. I think Obama will try is best to do what he can though.
• India
16 Feb 09
Well said.. Stephcjh.. it will surely take years..may be four or five years from now on..