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Politics : Sarah Palin For President 2012
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To: RMF who wrote (361)9/11/2008 10:23:39 AM
From: TimF  Read Replies (1) of 1832
 
Particular investment positions can of course be destroyed, and people will lose jobs etc. Economic softness, slowing of growth, a large number of bad loans, possible recession, these are bad things that will hurt people. But they aren't end of the world type of things, the US has been through similar situations before, and through much worse situations as well.

Its possible medium to semi-long term growth will be lower. In the shorter run the bad mortgage loans and other such issues will have an effect, and in the longer run the aging of our population will be likely to slow economic growth. If this longer slowdown happens it would be bad, but even if that does happen it doesn't mean that things won't continue to get better, only that they won't get better quite as fast as they used to.

And that's hardly a forgone conclusion, as expanding trade and improved technology can perhaps keep the growth rate up, if we don't take a decisive turn away from free markets.
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