On a scale of 1-10 how bad is our current situation?

Quote from donnap:

What we need is a recession - the sooner the better. Who says it's good to grow and grow the economy. Give it a rest. Shake out the weak hands.

What we don't need is a depression. Study the spirraling deflation of the early '30s. People sold durables for pennies on the dollar to stay afloat. Manufacturer's could hardly sell anything at cost.

Farmers didn't ship production because they couldn't profit from it. Meanwhile some people were starving. Total collapse of liquidity.

That's Bernake's predicament. But he's not giving the impression of being very tough about it. A bit panicky it seems.

I'd give it a 5 also. We need a 7. Don't want to see 8+.
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Lets just get the F****ing recession and be done with that.

Crash the stockmarket and lament our fates. Enough of this doom and gloom and what iffing nonsense. There is no need to keep dragging yourself on hot coals everyday.
 
Right now I think we are at 4

I'm concerned that the current slow down / recession we are in could turn worse and take to 5.

CFM Trader
 
Depends on our leadership.
Hopefully no protectionism, but with a democrat to restore our image.

Market wise, we could have a long period of "dead money"-I give it a 7.5....I think were in for some long term deflation in asset prices...

Real economy wise-a 5. We will get through it.
 
As for "trouble right now", I'd say 2 or 3. But unfortunately, it's like being in quick sand up to your ankles... it's not critical this moment, but will be soon and you know it's likely there is no escape.
 
heading to a 10......damn FED actually should being raising rates to slow the global economy down and kill inflation. Dollars are going to become worthless and I unfortunately own some.
 
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