Everyday we read in the papers that the world economy is getting from bad to worse. Despite numerous rates cuts by the Feds, European central banks and Asian central banks, the world economy continues to go downhill. Stimulus packages by the First World countries seem to have no effect.
Wrong section I think. Well, here at Christmas there was a stimulus package of 10 billion, and the statistics show that there was an increased spending during Christmas so the government are claiming credit for it. IMO stimulus packages are a way of preventing a deep recession.. In the long term it might pay off for the country's economy. They're talking of another stimulus package, but there's opposition against it from political groups.. saying how its too much or how most people are just going to save it.. or how the unemployed won't get it. Hard to believe all this was cause by bad credit.
you wouldn't be able to enjoy life to the max IF YOU DON'T HAVE ANY MONEY TO BEGIN WITH FROM NOT HAVING A JOB. <_<
right now it's damage control, and most economist are agreed that the crisis will last this year and probaly next year too. The more interesting "detail" is maybe that Obama has good probabilty of getting reelected again because 4 years from now the american economy is probaly back on the foot again and slighly booming which he of course can say was 'cause of the government's policy
Not sure what the point of this thread is... you'd have to be living in a hole to not know that the world economy is in pretty bad shape. 600 thousand jobs cut in the USA in january. the US government needs to put more money into basic infrastructure. That's the best way to create more jobs, not giving 800 billion to banks so that they can pay out million dollar severance packages and bonuses. If the US can't recover from this, the entire planet is fucked, all countries do trade through the states, canada especially.
seriously though..it's not bad credit thats causing all this problems. Its the american banking system thats all screwed up...no amount of billions will save it unless the system is controlled better.
