http://news.bbc.co.uk/2/hi/business/7641733.stm
... is it going to affect the whole world if the U.S. Economy falls?
... is it going to affect the whole world if the U.S. Economy falls?U. S. Economy failing
U.S.A. has a major part in the world's economy if we like it or not because it's a big player in all the big industries. To give you a short answer: yes, it will severely affect the world's economy. Hasn't it already fallen? From what I can remembered I think they have officially gone into economic crisis.
Sorry to say but is quite old news, while I was on Holiday the only English channel worth watching was BBC World News and Sky News, both of which were watched intently. I suggest you actually watch them sometime, it's amazing how much you learn!
To be honest, the reason it failed is because people were greedy, and now they wanted to what? use $700bn of the taxpayers money to bail them out? No.
To be honest, the reason it failed is because people were greedy, and now they wanted to what? use $700bn of the taxpayers money to bail them out? No.
Is this the end of the world then?
Nope, that thing still hasnt collided them particle yet
Which, destiny has it, has been delayed for like what? 'Several months'?
Again, learnt about it on the Sky News show... that means we can all get into debt more before we die!
Again, learnt about it on the Sky News show... that means we can all get into debt more before we die!
I agree with the decision, I don't like governments propping up failed companies just to save us from potential troubles, because we have faced those same problems before and come through them stronger than before, it stinks of certain parties just trying to stay in power at the next elections. I say let the companies die off, and let the arseholes that caused all of this jump off the roofs of their fancy skyscrapers. We can tighten our belts for a while and stop spending money we don't have. It might even make houses affordable for new time buyers.
But saying that, ATC, the bills for our utilities, fuel, shopping and what not will still continue to rise... fuel maybe even more so now....
Affordable houses? Yea, if you have the cash in hand or in saving. It'll be nearly impossible to get a morgage now.
Affordable houses? Yea, if you have the cash in hand or in saving. It'll be nearly impossible to get a morgage now.
Only if you have a poor credit rating, if you have a good credit rating and are not trying to buy a house that is far out of your league then you should be able to get a mortgage from one of the more conservative banks. These days it seems people think they can spend money they don't have and get away with it, so I would welcome a forced change of attitude.
I often find myself talking to people I know about them taking out loans to buy new cars, or to rent a new flat, and they complain about not having the money to buy those things without using a loan. But they smoke and spend up to £100 on nights out every week. The binge culture has to end at some point, maybe a recession would do that, if it does, then I look forward to it.
I often find myself talking to people I know about them taking out loans to buy new cars, or to rent a new flat, and they complain about not having the money to buy those things without using a loan. But they smoke and spend up to £100 on nights out every week. The binge culture has to end at some point, maybe a recession would do that, if it does, then I look forward to it.
Well said ATC, I'm hoping the other half of the people realize that... Personally I don't like taking loans, so far in my life I've taken out 2; a $1000 one which I had $1800 locked in savings to pay it anyways (to build this so called credit that will never come...) and one for college, which I am going to be paying off forever... Luckily I can afford those loans that I have and am hoping not to put myself in anymore debt but I know someday I will be buying a damn house that will need a loan, since I can't really save that kinda money, although who knows....
They voted against spending another few hundred billion they don't have. That makes sense when taken with ATC's post. What's America's national debt at now?. The US economy has been in trouble for a long time, this is nothing new. From my (admittedly very basic!) understanding of the situation the only reason the US economy is even standing is because the US dollar is the reserve currency in the world. If that were to change (to the euro or yen or whatever) then the US economy would instantly fall into the centre of the earth. At that time they might be hoping that the LHC did bring everything to an end...
How many millions/billions/trillions have the West spent over the last few year in Iraq and Afghanistan and what do we have to show for it?
How many millions/billions/trillions have the West spent over the last few year in Iraq and Afghanistan and what do we have to show for it?
I know, but i dont know how to call it in english that they rejected that plan and some (like Dow Jones-dunno how to call that in english) are falling, 6& up to now, NASDAQ i think 7%...
In that case I think the US gouvernment should cause it is fully responsible for what happened.
This domino effect is a consequences of the sub prime (nothing new here) but those stinky papers which were nothing more than a con (overrated trash) have only been possible because the regulatory system didn't do its job.
I don't like my country for many reasons but at least such a con would not have been possible here!
1st failure: letting poor people get ridiculously large and hazardous (the rate) loans
2nd failure: The COB screwed up in epic proportion here!
But you won't have a good credit rating at our (well, my age range at least) that being 17-23 year olds... we can't afford to get loans, many of us are either at school, in crappy jobs or unemployed looking for a decent opportunity. Personally, I spend £0 going out everyweek, and yet I can't afford to fuel my 125cc bike, I can't afford to buy a new game, I can hardly afford the £6.50 a week it costs me to go into town and back for a training course which is helping me look for an apprenticeship.
Maybe it's different for people who get spoon-fed but, myself, being brought up (mainly) by a disabled single mum who can't work due to a serious back injury makes it pretty hard.
I'm 23 and was in a job earning roughly £1450 a month after deductions (tax and NI). I easily got a loan for £7000 to buy my car. I'm leaving my job but that's my decision. I know a lot of people my age who are in a similar situation (having a well paid job at this age, that is...not leaving their jobs
).I wasn't spoon fed, I worked hard in school and uni to get a degree and went straight into the above job. Having to look after someone must be very difficult, no doubt, but surely you get benefits or assistance from the government for that? From what I've seen in the world and through the media, a lot of people who complain about not having opportunities just aren't prepared to put the work in. Like so much of the rest of society these days they expect to get things as if by right. I'm not saying that's the case in your situation, but I bet you know some people like that...
edit: Also, looking at the spec of your PC it seems to me like you could have saved a bit there
Well, I don't really 'look after' my Mum, we don't really get on, she's not so disabled that she needs me about all the time, so I keep to myself. The reason I'm unemployed at the moment is that I can't find a decent job outside of McDonalds or something, and I refuse to work there. She does get some limited benefits but they're only just enough to live, and we often have no heating or hot water
As for your analagy, I can understand and know alot of people like that. Maybe myself, idk
But as you say, you've obviously had a good education, finished Uni and what not, and have found a good paying job, but unfortunatly it's not that easy for some of us.
(I mean, I could get a job in BK or McDonalds tommorow but why? Within a few weeks hopefully I'll have an apprenticeship and I'll lose what's left of my pride working at a place like that)
As for your analagy, I can understand and know alot of people like that. Maybe myself, idk
But as you say, you've obviously had a good education, finished Uni and what not, and have found a good paying job, but unfortunatly it's not that easy for some of us.
(I mean, I could get a job in BK or McDonalds tommorow but why? Within a few weeks hopefully I'll have an apprenticeship and I'll lose what's left of my pride working at a place like that)
Although McD and BK are hardly ideal jobs, you cannot eat pride, and pride wont pay the bills...
If the apprenticeship falls through, I'll have a Big Mac and medium fries please!
Well, I screwed my RL up playing a MMORPG (Have quit and semi sorted it out since)... I lost most of my RL freinds and wasted over $4000 that I'd earnt from my job at Sainsburys (As 'low' as I'd go).
I have nothing but my pride left, and I'm not willing to sacrifice that. Maybe I'll work at the McD at the service station off the A34.. at least it's a ride out on my bike.
I'll see meh. /cry
I have nothing but my pride left, and I'm not willing to sacrifice that. Maybe I'll work at the McD at the service station off the A34.. at least it's a ride out on my bike.
I'll see meh. /cry
You should try to find a weekend job in a small newsagents, those are usually quite good and don't pay too badly, over even a delivery job for a fast food restaurant, that way you ride your bike and earn money at the same time. I understand why you don't want to work in a supermarket or fast food chain though, they usually don't treat you as a person, just a tool or a number. But if things get hard up then you have to make a sacrifice and do things you don't like.
Well, I can only work 10 hours a week, due to being on EMA (Although I don't get it every week because they suck...) so it'd probbably be a Saturday job or one full day a week, or a couple of evenings...
My Dad keeps saying that >_<!
My Dad keeps saying that >_<!
All very well saying that, but what if you were a customer caught up and lost savings, what if, as a result of that company/bank going bust you found you're self in serious finical trouble. You would expect/demand the government intervene somewhere down the line. The problem is that these guys have no responsibility and have made risky moves witch have'nt come off, and as a result the lowest paid are the ones to suffer. As for the house prices, well while they may be getting cheaper down south, up here in Scotland the prices have either stayed level or they have even risen by 2-3%. It's neigh on impossible for myself to get on the market at the moment.....I'll continue to rent at the moment.
As for the American Market, well the saying goes America sneezes, Europe catches a cold. This is mostly true as Northern Rock was a result of what happened state side. It even could be argued that as a result the global market will be less reliant on the American and more reliant on a new force coming out of the far east.
Maybe they shouldn't have spent it all on bombs over the past years....
Will if they stop poring BILLIONS on Iraq and Afghanistan then they could stop this.. They sure owned those terrorisst haven't they!
I think this is temporary. Gas prices have already gone down to their lowest point in months (still expensive but not $4.35 per gallon) Politicians are working extremely hard to prevent recession and I think they will be successful.
The 700 billion isn't just free money to the large companies that go bankrupt, either. In return the government owns 20-80% of the company as well as all of its assets including foreclosed homes and businesses. They will resell the properties and the profits of the companies will go into the treasury. The taxpayer will never feel the full brunt of 700 billion because it will be offset by the sold homes and the government stake in the businesses.
The 700 billion isn't just free money to the large companies that go bankrupt, either. In return the government owns 20-80% of the company as well as all of its assets including foreclosed homes and businesses. They will resell the properties and the profits of the companies will go into the treasury. The taxpayer will never feel the full brunt of 700 billion because it will be offset by the sold homes and the government stake in the businesses.
Well I'm confused. They say that Canada is dependant of the US financially. However, after those hurricanes and all that the price of gas dropped almost 30 cents per liter? O_O.
I don't think this is temporary seeing the US's national debt. Today their national debt is $9,896,670,989,452.96.
Source - http://www.brillig.com/debt_clock/ and we talked about this in Civics class.
I think the crisis might be temporary but it will spring again over and over until the US starts paying off the debt and stop being so dependant on other countries money.
I don't think this is temporary seeing the US's national debt. Today their national debt is $9,896,670,989,452.96.
Source - http://www.brillig.com/debt_clock/ and we talked about this in Civics class.
I think the crisis might be temporary but it will spring again over and over until the US starts paying off the debt and stop being so dependant on other countries money.
U. S. Economy failing
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