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10-24-17 04:40 AM
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Your opinion on the global recession?

 

10-24-17 04:40 AM
Ultrajeff is Offline
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Ultrajeff
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Times have been hard, namely due to a massive problem which ballooned in 2008. This, of course, is obviously the global recession. What does it mean? What do we do? Those are valid questions, but many haven't acted at all. In who's fault is this travesty responsible, hm? How are all of you faring? Did you have a safety net? Did you fall down quite miserably? I would really like to know. Thanks for your time.
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Times have been hard, namely due to a massive problem which ballooned in 2008. This, of course, is obviously the global recession. What does it mean? What do we do? Those are valid questions, but many haven't acted at all. In who's fault is this travesty responsible, hm? How are all of you faring? Did you have a safety net? Did you fall down quite miserably? I would really like to know. Thanks for your time.

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10-24-17 01:44 PM
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I was personally not effected by the global recession. However, a lot of towns near mine were severely impacted. A lot of businesses and factories either layed off their workers or they shut down. In other countries it was the same. I think there are several factors in what caused it.

First all countries being tied together. This has caused some industries to leave for other countries. Also when a country has a recession it can cause global effects. 

Second, rising national debt. A lot of the countries that are economic powers have very high national debts. The US national debt is over 20 trillion. This eventually catches up. As we saw in the 1930's when you do not lower the debt things can only do one thing crash. 

Third, very bad managing of the banks. A lot of the national and global banks were poorly managed. Some were even engaging in crooked activity. This caused losses on all fronts. 

So yeah all the three things I mentioned caused a chain reaction. I believe we are heading toward something worse. Mainly because the debt has not been reduced. I think we will see another huge crash 
I was personally not effected by the global recession. However, a lot of towns near mine were severely impacted. A lot of businesses and factories either layed off their workers or they shut down. In other countries it was the same. I think there are several factors in what caused it.

First all countries being tied together. This has caused some industries to leave for other countries. Also when a country has a recession it can cause global effects. 

Second, rising national debt. A lot of the countries that are economic powers have very high national debts. The US national debt is over 20 trillion. This eventually catches up. As we saw in the 1930's when you do not lower the debt things can only do one thing crash. 

Third, very bad managing of the banks. A lot of the national and global banks were poorly managed. Some were even engaging in crooked activity. This caused losses on all fronts. 

So yeah all the three things I mentioned caused a chain reaction. I believe we are heading toward something worse. Mainly because the debt has not been reduced. I think we will see another huge crash 

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(edited by tornadocam on 10-24-17 01:53 PM)    

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