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Do you think we are headed toward a recession?

Are you scared? I have read that the chances of a recession have nearly hit the 50% mark for 2008. Economists are predicting that housing is going to get worse, we're at the lowest production for oil refineries in many years, driving up the cost of crude oil (they think 2008 could see $4 gas prices), and the dollar is so weak. I wonder if this could turn into a depression? What do you think? I am a little scared, I'll admit.

Asked By: Good♥Gyrl - 12/30/2007
Best Answer - Chosen by Asker
First off, dont listen to anyone who says that a recssion is Bush's or any other politicians fault, or if it has to do with the war or government deficits. Even more dumb is the notion that not regulating corporations more is the reson for problems. Any polices related to these things have long term implications and... More
Answered By: E B - 12/30/2007
Additional Answers (6)
headed? we are already there!!!
Answered By: femmenoire@sbcglobal.net - 12/30/2007
 
Yup, and a serious one, too. What Greenspan is talking about is more than true. Stagflation will lead to a recession. And it'll be an overall bad year for the US. Economically, politically and socially.
Answered By: Joe Moe 66 - 12/30/2007
 
Current forecasts place the possibility of recession at roughly 60%, but most economists will not default to saying it "will happen" until that reaches 66 to 70% probability. The biggest real concerns are consumer spending, inflation, and credit. I expect a recession over the next three to five quarters, followed by... More
Answered By: Jon R - 12/30/2007
 
Yes. But why be scared... More
Answered By: Blindman - 12/30/2007
 
Yes, for all the reasons your stating... More
Answered By: john k - 12/30/2007
 
We are in a recession and headed for a depression. You have good cause to be concerned. Read through some of the blogs on this site. It's not just about the housing. Don't be afraid, be concerned and prepare. http://housingpanic.blogspot.com/
Answered By: Set - 12/30/2007
 
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