What scares a lot of people is how intertwined the world's economy is tried to the US Dollar. So when the american economy starts to suffer then the world economy will soon follow suit. I think the Chinese are the main country pushing for the world to get off the Dollar standard 'which may not be a bad idea'. the one thing that has improved since this mess started is the strength of the dollar, because investors will always convert their monetary assests back into Dollars when things that to go south. The euro has not been around long enough for investors to have faith in it, and the pound is not what it used to be.
Things are going to get worse before they get better. Whether Obama, McCain or Mickey Mouse was in charge. People borrowed a lot of money with very little collatoral to back it up and now that things are not going as planned they are shouting fire. I firmly believe that you reap what you soe. Isn't that how capitalism works?? I should not be responsible for your bad decisions. I was against the first bail out plan and i will be against the American auto industry bail out plan that is about to come. How about they give my taxes back to me instead of giving it to these large corporations who turn around and pay multi billion dollar bonuses to their managers, the same guys whos decisions got us in this mess in the first place. rant over!! sorry about that. I am happy though that gas is below $2 again.
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