What is your unbiased explanation of what's going on with the US and Global econ

1. 66

   ThunderKeysposted 13 years ago

   What is your unbiased explanation of what's going on with the US and Global economies?
   
   I can't seem to find a clear, simple explanation of what's going wrong economically and how to fix it. Please provide me with a sane, calm objective explanation of what's going on what needs to be done.
   
   Gratefully,
   - Duddy.
   
   

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2. 76

   Cogersonposted 13 years ago

   The worldwide economy is finally having to pay the bill for all the spending they have done over the decades.  Just like a person who has 15 credit cards....maxes them out...then they can not get anymore credit cards..and then they have to much debt they can not survive....they declare bankruptcy and lose everything.
   
   Same thing is happening around the world.  And the USA seems to be going down the same path.  I think after rock bottom....things will bounce back...and be strong again....although it might take many years.

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3. 66

   ThunderKeysposted 13 years ago

   So Far that's close as I can get too; - the credit card and addiction metaphors. As a professional counselor, I can appreciate the rock-bottom metaphor.
   
   There are as many addiction metaphors as there are addicts. I'm hoping to get an answer that's less abstract. One that really gives a sense of what's happening, what's needed and what to expect.

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4. 61

   Nefarious_Miseryposted 13 years ago

   In my opinion, the reality of the fact is that the world economy or America's credit standing has almost no relativity for those of us living paycheck to paycheck in this country. Things will always cost more than we can afford, we will always buy the off brands, we buy 10 year old (or older) vehicles, we rent, and we do not own homes.
   
   So tell me, how or why would I concern myself with the state of the global economy?

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