The Real State of the Economy - Good or Bad?
There is something about the US Economy at the moment that I for one don't get. Now it may be that being a brit, I am a little slow on the uptake; this has been known to happen every now and then but at the moment I cannot fathom several things out. Firstly, the UK economy, despite the Chancellors proud claims, is not in exactly the best of shapes but in the US, the Government is technically, if not practically bankrupt. By this I mean fiscally and this is not meant as some value moral judgement on the standing of George W and the rest of the White House. It is a fact that the US Government has an overall National Debt of in excess of $8 trillion dollars. Secondly, the United States has become a country where almost anyone despite their financial background or credit record can get a line of credit. Now in sound economic times this is fine and without these sorts of arrangements whole economies would disappear over night but it seems to be getting slightly silly at the moment with ...