Curious...

[MRAHoffman]

do you think that the "immediate" technology we have (the web, 24 hour news, internet news, facebook, twitter, cell phones, texting etc) drives (or appears to drive) the economy in such a rapid free fall. Think about it, but when the Great Depression (as well as later recessions) happened there was nothing LIKE the communication that we have today (there was no TV, radio was still in its infancy, there were newspapers, phones, but otherwise that was about it), but now, living in such an "instant society" (not only do we expect "instant gratification from THINGS", but technology has propelled us to expect us to know EVERYTHING instantly (have a question, go to google for the answer) and because we see EVERYTHING happen INSTANTLY, we expect IMMEDIATE response to not only what is happening (people see the stock market dive and have an immediate reaction...PANIC) which affects how we shop, companies hire/fire, the stimulus, etc. It just seems to me that if we didn't have so much INSTANT technology, things may not be happening as quickly as they are (I PRAY the upside happens just as fast)...what are your thought? Take care and God bless.

[DJ1972]

Before my granny died, she used to say that my generation was the "instant oatmeal" generation. She said we if we couldn't even wait for oatmeal to cook, how in the world could we have patience when it really mattered.

[say_tay]

Before my granny died, she used to say that my generation was the "instant oatmeal" generation. She said we if we couldn't even wait for oatmeal to cook, how in the world could we have patience when it really mattered.

I always say the same thing about "Easy Mac" Since when has it been "Well I'd make Mac and cheese, but it is too time consuming."

To answer the question, I think the best way to predict a recession/depression is to predict a recession or depression. People hear the "r" word, and panic. They stop spending like normal, stores do worse, stocks fall, people panic more, spend less, stores do even worse, etc. I think modern technology helps spread the "fear" faster.

[Spirit Deer]

I think all the technology may have something to do with it, but mostly I think it's been poor financial decisions, from the grass roots level on up to mega-corporations and big government. Nobody wanted to think the bubble would eventually burst, let alone think about what would happen when it inevitably did.

[JanieD]

Just think if the media came out next week with positive news day after day. Could you imagine the effect? Sure there would be those nay sayers (sp?), but for most it would boost confident. Sure the problems wouldn't go away overnight, but we could focus on resolving them instead of panicing. Limiting exposure to the panic can be a good thing IMO.

[mrsfoamy]

we expect IMMEDIATE response to not only what is happening (people see the stock market dive and have an immediate reaction...PANIC) which affects how we shop, companies hire/fire, the stimulus, etc.

I like how you think. We may not be able to do much about the panic at the top, but a single person, making decision based on the consesquences you know you'll have to live with, can often turn out to be the best decision.

[Cookiemom]

Before my granny died, she used to say that my generation was the "instant oatmeal" generation. She said we if we couldn't even wait for oatmeal to cook, how in the world could we have patience when it really mattered.

Your ganny was a smart woman! This is SO true for our generation!!!