Regardless of whether there is another Greek “saveâ€, preventing the actual default that still seems inevitable, the fact remains that adding debt to try and solve a debt crisis is a stupid approach when your interest costs already exceed your tax revenues (as is currently the case in Greece).
And it doesn’t stop there. There was roughly $4.5 trillion in new debt issued in 2010, three times the normal rate for mature economies.
According to U.S government jobs reports and cooked statistics, the economy is getting better, however if you asked the people on the street , they might say differently. Now as we draw closer to December and January which is when most layoffs happen, companies are starting to let go workers again.
Whirlpool announce to cut 5000 jobs, mainly in U.S and Europe and Advance Micro Devices (AMD) to cut 1400 jobs as well.
America’s righteous and holier-than-thou attitude is comical at best. The U.S Federal Reserve, through two rounds of quantitative easing and now Operation Twist, has flooded the world with U.S dollar lower and push its value down significantly.
Now, if the above tactics is not currency manipulation, then I don’t know what is. I think the U.S government should take a hard look in the mirror before pointing fingers at other countries.
http://money.cnn.com/2011/10/06/news/economy/thebuzz/index.htm?source=yahoo_hosted
As the United States government is already bankrupt and keeps printing money to meet it’s social responsibilities to the people, and to keep government running. Countries around the world have looked elsewhere to park their money and invest.
Every time the Federal Exchange prints more U.S dollar, it dilutes the dollar and therefore devalues the dollar making it more worthless.
With economic growth stalling on around the world and high unemployment plus government debt, Roubini says we are right back to where the world was 2008 crisis, if not worse.
Read article, copy and paste web address to your browser:
http://www.cnbc.com/id/44368995
The United States Federal Emergency Management Agency (FEMA) is out of money, and the next natural disaster that hits the U.S will see no funds available to help people or rebuild. Where did all the money went, ask corrupted government officials and Wall Street banks who stole all taxpayers money during the bail out.
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