US debt clock
Renewed weakness in the US economy has hardly come as a surprise to us. It is the inexorable outgrowth of an economic recovery that has been of highly dubious quality right from the start. The US economy is plagued by an extraordinary array of growth-impairing imbalances: a record-high trade deficit, a record-high budget deficit, record-high household indebtedness, record-low national saving and asset price bubbles supporting record-high consumer spending.
NEW YORK (CNNMoney.com) -- A growing number of top economists believe that the U.S. economy has now toppled into recession.
George Bush is mired in a fiscal policy crisis worse than anyone could have envisioned when he entered the Oval Office ... This crisis is the resurgence of record federal deficits ... The deterioration of America's fiscal health cannot be blamed on ... pro-spending coalitions in the Democrat-controlled Congress -- although certainly some of the blame lies there. It is almost exclusively the creation of the Bush administration itself."
Feb. 8 (Bloomberg) -- A U.S. recession is now an even bet as job losses and the housing contraction jeopardize the longest- ever expansion in consumer spending, according to a Bloomberg News survey.
Tent cities spring up in LA
THE EMPLOYMENT SITUATION: MARCH 2008
The unemployment rate rose from 4.8 to 5.1 percent in March, and nonfarm
payroll employment continued to trend down (-80,000), the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. Over the past
3 months, payroll employment has declined by 232,000. In March, employment
continued to fall in construction, manufacturing, and employment services,
while health care, food services, and mining added jobs. Average hourly
earnings rose by 5 cents, or 0.3 percent, over the month.
An Analysis of the Presidents Who Are Responsible for the Borrowing
And I could go on for pages and pages....so your econemy is good?
You all know what creditcard payments can be and how hard it may be to get out of such debt. This is what the USA have now, a huge creditcard kind a debt.
And how will they be able to pay of this debt? By raising the prices on the services given or for thos who dont understand what that means it is much higher taxes etc.
Back to the issue in hand, a bike selling for 10k in a good econemy may go for 20-30 % less in a bad econemy.