Graxley

I would first like to say how much BE has helped, informed, educated and entertained me since I moved to the US over two years ago.

Tomorrow may see a further significant fall in the stock market here and I was wondering what you all predict over the next few years will happen to the US economy.

Big D

Nothing good in the short term at least.

Off topic but where abouts in Westchester are you?

Thydney

Doom doom were all doomed

ugacrew

Soylent Greeeeeen! It's maaaade of people!

MsElui

my realtor is convinced the resession will be over within 6-12 months. We think he must be a born optimist!

Thydney

FFS he's a realtor! He lies

BritGuyTN

based on the huge spanking international markets took, its a good thing the US markets were closed for MLK

tomorrow may be very painful

not for me since i don't have any equities here

if anything, if the market does tank then that is good for me since it makes an interest rate cut more likely which will save me lots of interest on debt tied to the prime rate

BritGuyTN

not necessarily, he could well be just a ****ing idiot

Thydney

Thats a given isn't it

Graxley

Hartsdale. We are renting a house - buying a property right now seems like a bad idea but prices are coming down

Tarkak9

Whoever labelled Jan 21 being 'Blue Monday' obviously got the day wrong. Tomorrow is going to be - well - both the bear and the bull are going to know what a slaughter house feels like.

Get me off this roller coaster because I am going to throw up.

Rates are going to be cut at the next meeting... .5 point is believed, .75 pnt is rumoured but I don't think its going be so. I am going to go with an assumption that rates will continue to be cut through out the year because its the only thing they can just about do.

Some out there have said that we have been in a recession for a stint of time already but its only now that the masks have been coming off; we're only in the second inning of it. The only (more) reliable indication of direction and speed is going to be known in the second quarter. If the unemployment rate changes more than .7% then its a safe assumption a recession is here. None the less, I think its going to be a bumpy ride and many places in the country are going to get hit very hard. Even when we start to pull out of a recession, I wonder how long the affects of it are going to be with us? Post 9/11, the dotgone had the housing market around to prop up the economy; whereas today, things were ignited by the mortgage sector and obviously housing isn't there so everyone is really looking around to see what can prop things up.... and it doesn't look so good! I heard the other day that another lender (first national mortgage source ??) is going to be shutting its doors next month... feb 16 or so.

6-12 mo?! I wish. One bitten twice shy... even if we do start to pull out of a recession, I don't think people will be too eager to put their hand back into the cookie jar. Forget 08.. 09 has a slightly better canvas.

Giantaxe

Or in need of generating a commission... "it's a good time to buy" lol

dunroving

The main thing keeping the US economy going is people buying stuff, much of which they don't need. Sooner or later they'll stop buying stuff because they are up to their eyeballs in debt and then the economy is screwed.

The main reason the UK economy hasn't gone down the toilet in the past 5 years is that increased housing equity has given people with no sense the opportunity to remortgage so they can buy stuff.

Another huge problem these days is that the stock market is so often affected by sentiment ("irrational exuberance" as Warren Buffet called it, sending it up, then "panic" sending it down). Trading stocks and shares is so much easier these days that it doesn't take long for some bad news to affect the stock market.

All IMHO, you understand. I'm clueless when it comes to the economy but like to sound as if I know what I'm talking about.

Xebedee

I'm clueless too, its too big and too complex. Hell, its statistically impossible to predict the weather more than 3 days out for Pete's sake.

Did read that more and more foreign companies are buying up American ones due to the exchange rate. Also that they pay better than American ones do (not hard to believe).

Lothianlad

We in the UK are led to believe that all Americans are born optimists - I would guess that that is one of the most admirable qualities they have has a nation. That is one of the main reasons why I have this desire to move over there sometime in the future....at least for a short term, but who knows. It looks a bit of a long shot at the minute, but I'm trying to be optimistic - not easy for the average Brit! I think the average Brit is more likely to look on the gloomy side of prospects while it seems that Americans generally look for all the positives and ignore any downsides. I like that. Reading through history we can see that no recessions last for ever, however bad at any given time - there are always sunny skies just below the horizon.