Realisticly, how long before we see improvement and people going back to work?

[Running Nose]

I know there's no magic solution to the economy but can we at least improve the job market, block the unemployment rate and increase stability? Everyone say that it's gonna take us a couple of years to recover from this but surely we can't live off welfare for God knows how long.

Obviously this affects everyone but I believe my generation of the mid to late 80's got royally screwed. We're just beginning or are at the beginning of our adult life, we're supposed to work and build our future but this is setting us back.

Not to mention that if your grim predictions are true we'll all be out of a job and on the street by summer.

A couple months ago I was optimistic and excited about summer break and the mindless entertainment it offers but now I'm depressed and uninterested.

Christ...

[Ahlerich]

cheer up, you ll face a couple depressions in your life along with other set backs
opinions are very different on this. som say the GLOBAL crisis might be handled in one or two years, some thing america might hit a longer depression but that doesnt meant automatically that you cant find a job. it just makes it harder.
i was in a similar situation 2001 when i graduated as it tech and couldnt find a job in germany for over a year. i went to canada to get additional education and came back two years later and am working since then. i have a pretty save job right now i think.

just beflexible in thought and dont resign. search for solutions for the problems you face and solve them. in the end you come out of the crisis as a stronger character ,-)

good luck!

economy is a constant up and down - groth - boom - recession - depression - growth

will this time it went down further then most times but it will go up again eventually. just make the best of the present and dont wait for the future

[ivan_the_terrible]

I'd say a couple of years. Maybe several, depending on how it's handled.

Remember that even in the Great Depression only about 1/4 of people lost jobs. That's mostly unskilled workers too (though of course others lost jobs too). As long as you have decent qualifications you should be able to weather it, if you're careful. Also the depression was when some of the biggest fortunes were made - so there's definitely opportunity...

[Viking Prince]

It is just possible the worst is over and improvement is already in progress. Just a thought. Just like when everyone thinks the market must continue to go down, it rallies. And vice versa, of course. That does not mean all indicators will improve or that there will not continue to be glitches.

A good example is housing. The foreclosure rate was down in 2008 over 2007 in Colorado. You would not know this from the media. Not all places and not all people are living on the street unemployed and pennyless.

A great deal of this is overstatement by the media which wants every story to include a record and an exciting event. Life usually moves at a slower pace than the 24 hour news cycle.

[ivan_the_terrible]

A great deal of this is overstatement by the media which wants every story to include a record and an exciting event. Life usually moves at a slower pace than the 24 hour news cycle.

Good point. I saw a BBC interview with Ted Turner (founder of CNN) the other day, where he categorically denied the quick news cycle is amplifying the problem. He's completely wrong of course, as any media scholar will tell you.

[Zephyrus]

It is just possible the worst is over and improvement is already in progress. Just a thought. Just like when everyone thinks the market must continue to go down, it rallies. And vice versa, of course. That does not mean all indicators will improve or that there will not continue to be glitches.

A good example is housing. The foreclosure rate was down in 2008 over 2007 in Colorado. You would not know this from the media. Not all places and not all people are living on the street unemployed and pennyless.

A great deal of this is overstatement by the media which wants every story to include a record and an exciting event. Life usually moves at a slower pace than the 24 hour news cycle.

I am extremely confident in stating that April will see more of the same.

I have a feeling it's going to get worse. We have to give enough time for the financial scammers and rip-off non-producers who wear suits and haven't done a hard day's work in their lives to get a solid enough footing to do it again and reap a huge reward.

Mhm.

For what its worth, budget yourselves even further than you did before. I'm expecting this to last at least til 2011.

[boofhead]

Mhm.

That's pretty much what I think about this entire thing.

Harry Potter wizards screwing with our futures.

I hate them. If there was anyone on this earth I would hate it would be these selfish, manipulative, dishonest bastards who profit from the labour of millions by sitting on their asses diddling figures.

[Ahlerich]

That's pretty much what I think about this entire thing.

Harry Potter wizards screwing with our futures.

I hate them. If there was anyone on this earth I would hate it would be these selfish, manipulative, dishonest bastards who profit from the labour of millions by sitting on their asses diddling figures.

hm never though i d ever be on the same page with you

[boofhead]

I have a feeling it's going to get worse. We have to give enough time for the financial scammers and rip-off non-producers who wear suits and haven't done a hard day's work in their lives to get a solid enough footing to do it again and reap a huge reward.

[Denny Crane!]

As Richard Branson said today a lot of millionaires and billionaires will be made by this recession because opportunities to enter the market are cheaper, weak business that aren't productive or competitive are killed off allowing a chance for new innovators to come to the far and transform the markets.

He see's particular room for improvement in the banking sector, as do many other market economists who think zombie banks should be bought up, divided or otherwise left to whither and die.

Of course most of that can't happen because the government stepped in, hell the government caused it now they think they can fix it. That may well cause problems.

[Scar Face]

The great depression saw over a decade before it was finally turned around. So expect that, but a few years more.

Edit: You are wrong about the Media. The problem with our economy is its fundamentals, the stock market is not the issue here.

[Sphere]

Most economists are expecting a bottom sometime in 2009, that is if this is a fairly normal (though large) recession. However, there is a looming fear that another huge collapse is likely.

This would mirror the 1930's in which the 1929 stock market collapse did not cause massive bank failures until 1931. It took well over a year for conditions to get bad enough to reach a tipping point. The fear is that we are headed to that sort of tipping point, and that propping up the banks will no longer be able to stay afloat and will fail enmass. Though this is rather unlikely as national governments probably won't make the same mistakes as Hoover, they will make brand new ones which we don't know about yet.

When the rate of job losses starts to shrink, inflation stops dropping and consumption levels out, that is when the Stock Market will pick up again signalling the beggining of the end of the recession. Unemployment might still go higher after this point, but this is to be expected. Once investors smell a recovery, capital will flow out into the economy again.

[Scar Face]

Most economists are expecting a bottom sometime in 2009, that is if this is a fairly normal (though large) recession. However, there is a looming fear that another huge collapse is likely.

Just thought I would note: 'Most economists' are one in the same with those that said five years ago there would be no slow down, then said there would be a slow down but no recession, then said there would be a recession but it wouldn't be severe. Take everything with they say with a massive grain of salt. In fact, it would be better to presume whatever they say- the opposite is true.

[Viking Prince]

Just thought I would note: 'Most economists' are one in the same with those that said five years ago there would be no slow down, then said there would be a slow down but no recession, then said there would be a recession but it wouldn't be severe. Take everything with they say with a massive grain of salt. In fact, it would be better to presume whatever they say- the opposite is true.

You might need to recalibrate the most economists definition. There is never most economists in agreement on any narrow issue.

For what it is worth, we did miss the overall effect of the burst housing and related assets bubbles. This was due to the nature of the new hedging instruments that complicate debt renegotiation where holder of the debt can now profit by not agreeing to a write down and send the company into bankruptcy. We may need to revist some of these instruments and what this does to creditor/debtor negotiations short of a bankruptcy. This is the issue that has the toxic l(mainly home) loans all hung up and not being renegotiated.

Other than this, it is a normal recession. How we solve the new wrinkle is important. Somebody need to take the hit. It may take legislation by many western nations at one time to force the issue though. This will be tricky and the current Pres. Obama administration is still not addressing this issue. Not surprising since politicians are much slower to achieve change than investors.

[Quadratus]

If Obama stops screwing up our economy more, maybe a year or two.

[Ahlerich]

If Obama stops screwing up our economy more, maybe a year or two.

not the user but the comment is plain stupid.

[IrishHitman]

I predict three to four years.

[Last Roman]

I'd like to know how all these people who think its going to get worse or going to last a long time come up with these answers when many economists seem to predict a turnaround by 2010?

[IrishHitman]

I'd like to know how all these people who think its going to get worse or going to last a long time come up with these answers when many economists seem to predict a turnaround by 2010?

Economists are overestimating the amount of money that will be built up through people saving instead of spending, due to many factors.
They originally said that it would get better as, eventually, people would start spending again. I assert that this won't happen under current measures for a longer time than they say.

[Quadratus]

not the user but the comment is plain stupid.

Please elaborate...


Ask anyone on the streets and they will agree w/ that comment...