Archive for USA
The New US Great Depression
Posted in News, Politics, Uncategorized with tags depression, Economy, Gas prices, Housing Market, Money, Outsourcing, Recession, Recession news, USA on April 30, 2008 by RobUSA Economy to lose 6 TRILLION DOLLARS!!!!
My View:
One just has to read this article and look at how homes are selling to see this come prediction coming true. 6 trillion is going to vanish this year! That’s 6 with twelve zeros following after it. Our economy is 13.13 trillion according to the CIA world factbook. This year we will see 6 trillion vanish from that. That is really bad news. As home prices continue to fall and the cost of living keeps going up. It is fact that our country is heading into a recession. A recession so frightening that Americans and the world have no idea how bad it is. Some people are saying that we are heading into a depression.
It is a known fact, that up 65 percent of the average American wealth are their homes. The housing bubble that ended in 2006 is starting to completely wipe out most American’s wealth. Our consumer driven economy is on the verge of total collapse.
Our business and government need to act fast, because we already are seeing the effects. Consumer confidence is at a 26 year low, business inventories are growing do to a lack of demand, price of gas is sky high, and not to mention that most of our good paying manufacturing jobs are over seas. The USA needs to do something quick, if USA goes down, China, UK, France, Russia, and the whole world crash and burn with us.

When Barack was elected as El Presidente, I knew that Obama would take the route of pacifism. Obama adopted the ‘woe is us, and we’re sorry for all the problems in the world’ and both Republicans and Democrats agreed.



