Bad News in the State Huh?
By cadguy08
@cadguy08 (1224)
Canada
August 8, 2011 11:34pm CST
This is Bad news to all especially near border like us here in Canada, why? well if USA with second wind of recessions then it's like Domino effect which really affects us here in North America I wish and Hope the news is not true at all . I'm praying no more of this second Wind of Recessions it affects my family. God Help Us all!!!
1 person likes this
3 responses
@Awinds (2468)
• United States
9 Aug 11
For once in my life I wish my United States was not a world power. In recent decades we have had stupid leaders elected by unwise voters. This only intensifies as the years go by. Unfortunately, when the US does stupid things it effects the whole world. If we had the status of say the UK - comfortable, but not as influential, I would be very happy. It's really not fair how we drag close countries like Canada along for the ride.
Anyway, I don't think you have to much to fear. Remember that this world has already survived an even greater depression: The Great Depression. This recession is bad but is not on the same level as the gloomy 30's. Furthermore, the media tends to exaggerate. They are a business. It is their job to get people scared and to make them want to read more. I remember how the panic pages where flying before the debt resolution - everyone was so sure the US would default. It didn't happen. It is possible that the economy will slow down as investors react, but I don't think we will see a second recession as bad as the 2009 one.
I am being optimistic. However I don't feel I am being blindly optimistic. :)
@cadguy08 (1224)
• Canada
9 Aug 11
Yes,every time there's recessions in USA it affects us here in the North which we as Canadian relies on USA products and service for both countries. I 'm very concerned about it and just want to change my attitude about it but because of what happened last 2009 it's really scare us all here. I've been layoff for many times but in 2009 I cannot see or get any job at all no one is hiring until after 1.5 yrs of relying on my EI and credit Card which I consumed it to the max. And my family lost faith in God but after 1.5 yrs went back to Him for thanking Him again when I got a job in my field.
@mensab (4200)
• Philippines
9 Aug 11
yes, i heard it too. the US credit rating has been downgraded after it narrowly missed defaulting with its financial obligations. the congress and senate finally agreed to increase the debt ceiling of the US government. after intense negotiation and debate, the passage of the bill allowing the US government to borrow more to meet its maturing debt payments. i think there is a valid reason to fear, but again, our society will overcome this.
@dont_pick_your_nose (2279)
• Australia
9 Aug 11
I don't know if it actually means a ressision although i agree that's what they are trying to make it sound like is about to occur on a whole new level. It is very scary stuff and i hope that nothing like that happens again in Australia as we had a quick one but bounced back out of it due to spending!! which i think was great!
As far as i understand it is the first time that USA has ever failed to make payment so i guess that isn't showing the end of the world just a dent to their credit-line.
