Don't insult me please, just post your thoughts. And Chang, you have no idea how much the U.S.A. is in debt do you? I suggest that you go check and then talk to me.
1.) Most modernized countries back their currency with the U.S. dollar. If it's value plummets, so does the value of their dollar. Not to mention that the United States imports from a vast amount of foreign entities. If we don't have money to trade, bye bye world economy.
2.) 100% of oil is traded with the U.S. dollar. Chances are this will change if the dollar continues to lose it's value, (most likely the Euro) and this could possibly lead into #1.
Basically, if the government doesn't do something quickly, yes, chances are there will be another Great Depression. But, since the U.S. is such a huge buyer in the world market, if the States go into a recession, so does the rest of the world.
It's not a Great Depression, per se, at least not yet. Many countries count on the US for trade and protection, so if our economy fails, no trade, and we can't keep a military.
We're 17 trillion in dept, every Person living in the country, legal or not owes about 44 grand, going up 2 grand with this new 700 billion dollar bailout and republican's trickle down plan isn't working because the top 1% is hoarding it from the bottom 99%...
We're 17 trillion in dept, every Person living in the country, legal or not owes about 44 grand, going up 2 grand with this new 700 billion dollar bailout and republican's trickle down plan isn't working because the top 1% is hoarding it from the bottom 99%...
Yeah, that's a bit sad. This problem is making the rich richer and the poor poorer. The only thing I want to know is, who are we in debt to?
As a kid would say, America is in deep doo-doo. America is in deep dept to several countries, mostly China. Also, as we all know the economy is going quite whack, and going down, down, and more down. If the goverment doesn't make a decision soon, America could easily fall in world power in both economical and military strength.
However, remember that although America is in deep dept, mostly with China-(my friend said we are in about 6Tril dept with China, I don't know if its accurate or not)-China depends on American economy. America imports products from China, and China buys American bonds. So pretty much, some of America is running off of Chinese money, but the Chinese cannot take advantage, becuase were giving them the money ourselves. Also, China is going to take over the top-spot of which countries manufactures the most products from America in the coming years.
@aaron is cool we are basicly in debt to everybody
my thoughts on this is yes i do belive were spiraling down to another great depression were 17 trillion dollars in debt and more and more jobs are being able to be done by machines and not by people and legal citizens are losing some jobs to the illegal citizens and i think it will affect many countries because America is a HUGE buyer that all America does is buy buy buy and every year we go deeper in debt want proof pick up your nears appliance and tell me what county does it say its made in? Taiwan?China?Japan? i rarely see anything made in the U.S.
Except even if the USA economy tanks, that doesn't mean that magically all the military hardware vanishes. Yes, it takes money to maintain and operate, but some dude could go and trigger weapons anyways. Never underestimate the fanaticism of the militias in the USA...
As far as the economy, Great Depression or no, it is clear that something significant needs to change about how the economy is run. Bailing out failing organizations won't change the fact that organizations are failing...
There's this recession looming, but I wouldn't necessary call it 'the great depression', just the normal cycle that all other countries go through. Though, with the whole bail out and everything, the markets around the world (Asian, Euro) are all a bit shakey and nervous, who knows what's going to happen!
So if we hit a depression, our enemy's like Russia, China, and North Korea dust of the old nukes.
we sadly are like %60 in chance to go into another depression..why? house mortages the war,and our taxes where they go to? pointless things..and it will not even effect other countries.
It will effect us in Canada. No matter how much we like to think we are an independent country, America is a big part of everything we do. Anything major that happens there effects us somehow here.
