How many people are convinced that because of the financial crisis we are all doomed? How many believe that there will be civil unrest including riots and civil war? I don’t think that there are that many Americans who believe that society will deteriorate to that extent no matter how bad things might get in the stock market, and no matter how bad unemployment or housing prices get.
Let’s face it, things get bad and people react. While many may not like what is happening, and what may happen over the next several months, few will pick up a gun in an attempt to solve the problems. In my opinion the reaction will be more along the lines of belt tightening with food, energy and entertainment. People will also cut back on travel, buy fewer clothes and generally become a lot more cost conscience. Sure there will be an increasing dissatisfaction with the financial realities that we are all worse off, but will civil unrest really solve any of our problem?
Families are forced together in bad financial times and there likely will be an increase in family size as children and relatives who have lost homes have to share accommodations. People will have to work longer hours to pay their bills, and fewer will be able to retire. Even those who are retired may have to reassess their situation as prices increase and the money cheapens.
The coming inflation will not make you rich. Your dollars today will buy a lot more than your dollars in a year of two. There may be more money floating around, but it is likely that it will have lost the power that it now has. So that giant cash hoard that people are holding, most of which was pulled out of the stock market to avoid a crash, will dwindle in value.
Is this a doom and gloom forecast? I don’t think so. Most of these things are already beginning to happen. They are a part of our “new reality,” and as hard as it may be for people to accept where we are going, it’s just a matter of time. What is important is that you prepare for an extended downturn, it may take five years or more to come back from this one.
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I think there could be very considerable unrest in the near future.
This morning’s news had a story about workers at a Caterpiller factory holding their bosses captive, trying to save their jobs!
Even in better times, someone was killed by the rush of customers as he opened the doors of a department store on the day of a sale.
I agree with you on that. We must be all prepare and watchful I guess…..on whats happening now.
I guess that I’m a pragmatic optomist at heart, I can’t see that mob rule will change our lot for the better, and I like to think that others have figured that out as well.
I agree with this view. In my opinion the global economic slowdown has been slightly overrated. This phenomenon is not going to last for a decade as many people are thinking of.
I hope that with in two or three years everything would get back to normalcy and regarding the social unrest there might be a marginal increase or isolated ones not a common unrest.
Oh well… Really can’t say anything for certain. Some says it’ll be ended sooner some says longer. As for me and my family we just really strive with today’s economy and making preparations for the worst, if ever there is. I think if all people would just do what they’re supposed to do instead of complaining it would be as if there’s no crisis at all.
Five years or more huh? Then five years of low salary that will be I guess… I think this can actually be a doom forecasts. Hope it really is not though since I can;t really tell.
As far as i can remember the dollars buying capacity decreases every year due to high cost of living. Especially now that we are experiencing recession. And that means we must live with in our means to survive.
I for one believe that the financial crisis we are facing now will not result to any civil war or and end to everything, except maybe if the present leadership will ignore all this crisis and do nothing to find ways or finding solution to it.
In third world country , its always heading to doom future , and the global setback we are experiencing now makes it worst . I just hope that in time it will be over.
People should not think that because of financial crisis, we are all doomed. This is lacking of spiritual functions, faith and trust from the Highest Above. People always think of the business, success and material things. That one thing, very important one, tends to forget and take advantage of it.
I definitely believe that things could get very bad in the future. Look at how many murders that have been shown on the news recently. People are losing their jobs and are frustrated, scared and angry and they end up killing themselves and others. Times are very bad now and eventually murders like these will become much more common. The government has to take responsibility to what is happening to this country and help us out.
See my “Prepare or Not to Prepare” article.
An increase in murders is not really evidence of a general civil unrest. At this point even the “Tea Party” rallys against the the governments answers for the recession have been relatively subdued. I don’t think that the government should “take responsibility” for what is happening. While government agencies and politicians clearly have some responsibility, they are not the only responsible party. Their attempts to kick start the economy via the bail-out may turn out to be a giant sized blunder. Regardless of whether it is or not, I really don’t want to see even more government intrusions into private lives with the recession being used as the excuse.
The one reason for increasing crimes now in the society is due to loss of jobs. Out of the people’s depression, they tend to do some illegal things to make for their living. Pity for those people experiencing this. Government is taking action and aware of this thing. But sometimes you really cannot escape from the reality.
Funny how one’s perception on doom and gloom as regards economy is generally anchored on how it adversely affects the rich and sets aside the plight of economically challenged individual. If an average person experiences financial difficulty, it’s because of individual failure whereas in cases of person belonging to the upper strata, the blame is on failure of the economy.
Usually no one knows what causes their “average” neighbor to fail. It could be the economy, because a job was lost, or it could be poor financial management (due to gambling). So it is hard to fix the cause or blame. In the case of a rich individual who lost a Billion dollars due to the stock market crash, which the public can see happen due to reporting requirements, everyone knows it was the economy that brought them down. The fall always seems more interesting if it was from lofty heights.
If you’re from a Third World country, is just like any other day, only it’s much worse than the day before. Most people from Third World countries have been experiencing doomsday for almost all the days of their lives. Today is much harder for them but they survive.
So let’s all be positive about our World’s Situation and be strong, for tomorrow may always be worse, we must all expect the unexpected and face uncertainties, for this is somehow one way we can survive. Of course we must all work even harder to meet all ends but I still believe that this will pass too.
I would like to add on floriana’s idea with regards to what is happening to our society today. Lots of people don’t know how to handle there problems. The loss of job is not a reason for them to engage in crimes or drugs. If they have a determination of doing good, they could survive the challenge of our society. Why not stop doing illegal crimes or drugs?
i think crimes have been there as far as i can remember..its our on look out on how avoid to become a victim..and its obvious that as our economy goes bad same with the crime rates (high)and unemployment..the poor becomes poorer and the likes, the solution is not only for us to resolve but we need the help of the government as well …
In this economic crisis i don’t think government could help, they even facing same problems like we all do have. Engaging with problems like crimes or drugs as what mention above is a result of the difficulties of life. The problem is, they don’t find a solution in fact they found a problem.
I agree that things have not been improving of late. I don’t see that the government has been turning things around, but I don’t know that it was ever possible for them to do so. A few trillion dollars spent on beetles, butterflys and bridges . . and a gaggle of other ridiculous programs . . that’s not going to change the economy. I also haven’t seen the civil unrest that many were predicting either. It will be interesting to see how people react to the new taxes that will be imposed to pay for all of the government programs, I heard that is going to happen big time at the end of Obama’s first term (just after the 2012 Presidential election).
For sure, there would be lots of issues with regard to our economy in the future. However for me, these economic crisis are just challenges. It may be true our situation is getting worse and some would be convinced that with these financial crisis we are doom, no we are not. We cannot control these circumstances, but for sure we will survive. We have to cooperate and support one another. Do you agree?
Financial crisis doesn’t mean we are doomed. We can face these challenges and survive. We don’t have to fear our future, just be optimistic and goal oriented. Once you have goals, your plan would be easier to execute, agree? These crisis will help you become a better person. If we think that everything gets worse then it will be. We just have prepare ourselves to whatever may happen in the future.
I guess every time after a society becomes too much wasteful, greedy and self centric a time comes when situation brings in some discipline and things come back to normal after a while. The back economic situation should teach us to be more respectful towards natural resources, manage within less and be aware of our limits on spending.
I dont think we are doomed, if we spend to much time fearing the economy then it will just get out of control, If we look after the tools and resources we have got then, Also just keep aware of spendings, costs and limits, as mentioned above,
but saying we are doomed may be a bit strong and we all have to think positive.
As what millionaireman, pointed out that, financial crisis doesn’t mean we are doomed. I think this is the time guys, to think deeper about this financial crisis. Who do you think are affected with this? Maybe all of us, but looked at our malls there are still lots of people having their shopping. Is it a sign of our crisis? Moreover, if we tried to ask each individual if the could feel it, what do you think is the result?