Yes. They simply owe more money then they can pay back. If you ask me, China is the new super power country. Just look at how much produce comes out of there. With most products it costs less to import it to your country then it does to buy it at home, no to mention you cant make it for what they ask because they buy in bulk raw needs. Overall the country is wealthier then the Us. Well the adverage Joe has'nt a cracker to his name, there is alot of super rich people though and this keeps the wealth in the country. China is the next super power.
Unfortunately, yes. Everything that Ikky said. China is the new super country. It's not all that horrible, but it's no good.
they said that in 1999 they said that in 2000 in 2001 in 2002 in 2003 during all these times the output of the US increased MORE than in any other time in history. is it slowing down right now? no duh... but productivity is still increasing, output is going up and for the most part times are good. if you were in the subprime industry then you're f'ed. Good thing though is noone in my family has a subprime loan and we cumulatively made out(and sold most property just before the peak) during the housing boom
we've been talking about this a lot in my macro economics class basically there are a lot of reports/indicators/data being released which do seem to suggest that we are either just starting a recession or else we might be heading into one soon we haven't actually had any quarters of negative growth yet (I believe), so technically I don't think we're in one yet
We've been talking about it in my Econ class too. But my teacher insists that we won't truely know if we are in a recession until it has already passed, which he said takes about a year or so.
yes like my government teacher says "were going to hell in a handbasket" we either need to increase government spending or decrease taxes.
we need to decrease gov spending and reduce taxes, pay off the national debt etc. if the US continues on the route it's going we'll have hyper inflation and... wait a minute... hyper inflation = reduced national debt HAHAHAHAHAHA sshh.in full seriousness though the government should be run as a business none of this inefficient BS we have now
It's a shame that 90% of their economy comes directy from the only capitalist part of the country, Hong Kong.
It's not like the US Government is going to be able to control the economy if the recession eventually happens. Through past recessions, it's only been fixed by letting things work itself out. That's the only way to fix the economy. Of course lowering taxes would cause people to spend more. And yes a increase in government spending and expenditures would eventually cause an increase in consumption. These two can't solve and fix recessionary time periods. They can only help a little bit.
We need to stop worrying about the worlds problems & worry about whats going on here, need to stop all the bs wars we are fighting also and the us needs to keep there nose out of everyone issues, i can go on and on dont get me wrong i love my country i just hate our government at the moment...
