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Drastic drop in worth of the USD caused trillions of dollars (in terms of value) to magically vanish on Sunday, September 14 2008. Largest banks in America accepting government bailouts, declaring bankruptcy, and liquidating assets. Experts say the U.S. has more than a fifty percent chance of entering a life-altering recession/depression, possibly worse than the Great Depression of the 1930s. Set into motion by the housing market failure of the past couple years, lowered interest rates, tax cuts, and many other factors. Good luck guys.
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Comments
Sep 25, 2008
scallopemi: A low dollar isn't all bad, it's very good for exports and tourism.
Sep 15, 2008
skr831: The dollar is strong. America is great! America is the strongest. America is the best. Nothing to see here folks. Keeping walking.
Actually folks, America is bankrupt, economically and morally. The fools in charge of our government are doing their best to get out of office before the total collapse of the most corrupt, terrorist driven government on the planet. As they flee out the door they are taking your money with them. Wake up America! You are getting rolled by a immoral thug, George W. Bush.
Sep 15, 2008
skypajor: I wouldn't argue that the economy is weak. However, you are wrong about the dollar. It's a fact it is strengthening. Also, we are still in a growing economy with positive GDP. That's hardly a depression.
Sep 15, 2008
coasr2coast: By the way!
The guy who made the comment with the satelite picture.Is your name George?
Actualy, no need to respond. Good luck!
Sep 15, 2008
coasr2coast: Your in denial I'm sorry to say.
You can draw any chart you want, and you can colour it anyway you want however it is safe to say that the economy is in bad shape, or we wouldn't have big name mortgage companies going belly up however it is also safe to say that this could very well be a world wide resession from what I'm seeing globaly in developed countries such as the UK and Japan etc so the states are not alone however are probably without question in the worst position.
Sep 15, 2008
skypajor: That chart is bullcrap. http://www.cbseyemobile.com/users/skypajor/channel/item/5898
The dollar has actually been strengthening recently due to a global economic slowdown.
Sep 15, 2008
trapforfools: It's a ridiculously complicated scenario... The whole schizo "Today we'll regulate but tomorrow we won't" screwed us all over. Had they regulated Wall Street banks to begin with (i.e. Not allowing overestimated home values and other factors in the housing crisis) then perhaps this all could have been avoided. If they had just left things alone these past few months and let the economy standardize itself, we may not be in this situation. Unfortunately, our administration (and investors) let it get completely out of control, then pumped a bunch of fake value into these banks, making it ten times worse. It's amazing, really.
Sep 15, 2008
skr831: You have the Bush crime family to thank for this. Do you all still believe their hype about "free markets" and deregulation?
Bush's and failed banks... I do believe I'm seeing a pattern here. (remember Neil Bush and the Savings & Loan scandal?)
Sep 15, 2008
trapforfools: In addition to all that, China (who has previously bought and who holds a massive amount of our currency, which helps the USD in the U.S. and global markets) is probably going to "diversify" their currency holdings... Which means no more (or much less) U.S. dollar. If that happens, this will all worsen exponentially.
Sep 15, 2008
coasr2coast: this is worth than bad! They say that for every dollar an American has in there pocket on average, they owe $13 & you can take that to the bank.
Sep 15, 2008
FordSvt2004: America will soon become a poor country
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