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This article talks about Greenspans expert opinion. He basically says, that if the U.S. gov't does not act to cut back the current huge budget deficit, the US economy could go into a severe downturn.
What just happened less than a week a later? Congress acted to create more tax cuts therefore doing the opposite of what Greenspan advised (further increasing the budget deficit).
To add more fuel to the fire - the U.S. labor force is slowly lagging behind when compared to education level and qualifications of populations in Asia and Europe. This means unless we get our act together (educationally speaking) we will not be as competitive.
Considering that the dollar is getting weaker and weaker and the budget deficit is growing - foreign investors could lose faith in their US Treasury securities and sell them off like hot cakes at the first sign of the dollar's fall. This could send the U.S. economy into a tailspin.
I have a feeling this IS what is going to happen.
What say you? Does the U.S. have a chance?
This article talks about Greenspans expert opinion. He basically says, that if the U.S. gov't does not act to cut back the current huge budget deficit, the US economy could go into a severe downturn.
What just happened less than a week a later? Congress acted to create more tax cuts therefore doing the opposite of what Greenspan advised (further increasing the budget deficit).
To add more fuel to the fire - the U.S. labor force is slowly lagging behind when compared to education level and qualifications of populations in Asia and Europe. This means unless we get our act together (educationally speaking) we will not be as competitive.
Considering that the dollar is getting weaker and weaker and the budget deficit is growing - foreign investors could lose faith in their US Treasury securities and sell them off like hot cakes at the first sign of the dollar's fall. This could send the U.S. economy into a tailspin.
I have a feeling this IS what is going to happen.
What say you? Does the U.S. have a chance?
