Q&A Friday #83: Are We Headed Into A Recession?
Question: “I don’t know about you, but it seems lately that my dollars are purchasing less and less these days and I feel it everytime I have to pump gas into my car or purchase goods from the local Wal-Mart. I’m not getting a raise this year because my company is not making any money and it doesn’t help that we are in the middle of an election cycle and people are worried because they don’t know the direction the country will take and saving their money.
What do you think John? Are we headed for a recession or worse?” — Scorched_Earth
Answer: The economy has been running strong since mid-2003 and yet, we’ve had people predicting a recession practically the whole time. Will we have a recession in 2008? Maybe. Even a broken clock is right twice a day.
Additionally, there are credible predictions that the economy is going to slow down, even if we don’t go into recession.
So, growth does look likely to slow down. We’ll just have to see if it plays out that way.