| inurenegade said: You guys do not find this to be very bad??? They had to bail out one of the largest banks in America!?!?! This is a sign of things to come America is really heading down hill and i don't think our country realizes how hard the road ahead is going to be. |
It is true that this is very bad. However I really don't think that it's more than a blip on the overall radar. Despite what everyone says the US is still not in a recession. Last quarter we had .1 economic growth or so and this quarter looks to be the same. A recession by definition is 2 quarters of negative growth. Since we haven't had 1 yet even we can't really be in a recession.
If anything this will reduce the stupid level of debt that US citizens incur. If that means the growth of the economy stays stable instead of growing for a few years it will send a few investors off the deep end, but overall the US economy will still be fine. I personally believe many stocks have become overvalued (cough google) and this will balance them out before they grow again. If anything I think the amount of rate cuts that have occured most threaten to devalue US currency.
Sorry went a bit long there.
