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If the US economy goes into another Depression, would it be a good idea to leave the country?
By Rose | March 13, 2008
Arlene K asked:
If the US economy goes into another Depression, would it be a good idea to leave the country? Maybe by moving to Singapore or the Philippines where I have family who own a house (no payments). Plus my money will go further since the dollar is going down. There is a possiblity the dollar might crash and the economy could collapse.
If the US economy goes into another Depression, would it be a good idea to leave the country? Maybe by moving to Singapore or the Philippines where I have family who own a house (no payments). Plus my money will go further since the dollar is going down. There is a possiblity the dollar might crash and the economy could collapse.
So would it be a good idea to leave if things just get worse?
Lyndon
Topics: US Economy | 8 Comments »
March 15th, 2008 at 7:57 pm
If you think we will have another depression, then yes, it would be better to leave. But I personally do not think we will even come close to the issues faced in the 1930’s, so think carefully what you are running from. tba
March 18th, 2008 at 3:04 pm
Your sense of Patriotism is appalling!
March 21st, 2008 at 2:19 am
Technically, the US economy is not even in a recession, let alone heading into a depression. I recession is a period of six months of decline in the gross domestic product. So far, we have only seen SLOWER GROWTH of the GDP and not a decline value of the GDP.
If you are doing everything right (no debt besides fixed-rate mortgage, 3-6 month emergency fund, etc.), you should weather this storm well.
March 24th, 2008 at 4:50 am
Sure head out.
March 27th, 2008 at 12:49 pm
I think things will get better, but to help you with your quesion, it could be better if you think it is better. Our country has so many good things like safety. Many countries like my old country have so many deaths from all the violence that people come here to get away from it all. I had my money in a bank where I use to live and it disappeared and nobody would tell me where it went. So, I would think very much before you move about the good and bad things that a new place would have to offer.
March 29th, 2008 at 12:51 pm
if the US goes into a depression, which is only and extended recession then it is going to have global ramifications so i do not think that you can run from it.
all of our economies are so intertwined today that if a large country has an economic issue such as a depression it is going to harm world markets
March 29th, 2008 at 11:21 pm
Since in the 4th quarter the economy was still GROWING, talking about a depression is crazy.
But if we did get into a depression leaving the country would do you no good. A US depression would throw the entire world into a depression.
Also getting a job overseas is not easy for an American.
And last but not least, living in the USA is by far the best place to be. BUT, with your attitutde maybe it would be best to leave now and avoid the rush later. I hear Dufar is lovely this time of year.
April 1st, 2008 at 9:18 pm
Possibly.. I’m seeing properties in foreclosure where the owner seems to have gone back to “the old country”.