Do feel there is really a credit crunch? Do you feel we are heading for a recession or all ready in on?

In the 1920's people borrowed over their heads to buy into the stock market boom and we all know what came next. Recently, people have borrowed over their heads to buy into the real estate boom, combined with neo-con bank deregulation enabling massive corporate greed and just a pinch of brilliant marketeers touting "here's five Visa Cards! now you too can live like Paris Hilton".

We'll be lucky if this is limited to recession.

We are in one. And remember apart from the problems with morgages people also have high credit card debts. It is not going to be pretty.

http://www.latimes.com/news/l...

Yes, we americans have put our selves into a crunch just to impress the other person that has also put themselves into a crunch. We need to stop living the MTV/TV life style. And i honestly believe that most people cannot afford to. No-one but ourselves are hurting us in the "crunch". Recession, I do not believe we are heading for one. Nor do i believe we are in one. Are we in a tight place YES, but that because we choose to be there. Stop trying to impress co-workers with your big houses! Oh, wait... you lost it! HA! who you going to impress now with that Hundi?

i think were already there

I think it is all media hype

Around my area, we are close to depression.......recession happened a while back already....

Iam not worried, We alway's pull threw.....Although i dint say that America's money wuz being spended rite.........I try not to think negative...And just try to save all my income as i can in case of hard times......

I believe we're already in a recession. Prices are going through the roof, people are buying less, charging more, the housing industry almost bottomed out, more and more jobs are being outsourced, Iraq is costing us more than what anyone factored and how much do we owe other countries?

I think we do have a credit crunch -- for some people. It will not affect the overall economy enough to cause a recession. People extended the credit too far and the banks got smacked for lending them the money to buy houses with interest only loans with big balloons or adjustments. It happens and the economy will correct itself.