Will this recession be worse than 1981-82?

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There hasn't been this much panic over the economy since the Great Depression. Banks are failing, major mortgage companies are failing, and tons of people are facing foreclosure. Hell, the government just overtook Fannie Mae and Freddie Mac will cost taxpayers at least $1.5 TRILLION.
During the 1981-82 recession, unemployment got above 10%. I have a feeling it'll get above that this time, and that this will also last a year or so longer than '81-'82.
One bad thing about the recession we're currently in is that it's a stagflation (shrinking economy with rising prices). What do you guys think?

they're just going to lower the prices again and let the inflation grow.. what else could they possibly do at this point?

Things will get worse before they get better, and if do nothing MCcain gets in office kiss the economy good-bye because 1.) he supports spending 700 billion dollars a year in Iraq 2.) he is totally out of touch with the working class 3.) we don't need anything remotely like George W. Bush.

You know living the way we did this was bound to happen, living beyond ones means always results in a disaster. Basically our economy is going to equalize to what it should have been in the first place.

I think you run into a problem whenever you start to think it is okay for the government to nationalize companies at will. Threats against the oil corporations will not help to contribute to a stable business environment, nor will protectionist measures that discourage investment.

I think the government takeover of Fannie and Freddie was a last resort.

You obviously don't understand the NT mindset: It is better to lie (NT's would say exaggerate, but exaggeration is a form of lying) and say your status (in this case, economic status) is higher than it really is. The same applies to anything that a status can be applied to: Social status, military might (on a national scale), physical strength, how many times you can get laid, etc...


Yup. Whenever you lie, it eventually comes back to bite you in the ass. I know this firsthand...

but someone has to pay the price and it will be the people...