America on Steroids

User Rating: / 0
PoorBest 

  Dear Editor,
 
Robert Morley is an outstanding columnist writing in Financial Times and other journals.
Writing on the current financial anamolies of USA, he opined as under;

Don’t assume that America will bounce back again, that the current crisis will blow over and everything will get back to normal just because it always has. Yes, America bounced back after the Great Depression, the economic impact of the great wars, Black Monday, and other serious economic problems. But America is not the same nation today as it once was. America used to be the world’s largest producer; now it is the world’s largest consumer. Americans used to be savers; now they are spenders. America used to have the world’s most stable, reliable currency; today the dollar’s purchasing power is a shadow of what it once was. And America used to be the world’s biggest lender, but now it is far and away the world’s biggest debtor. America is Bear Stearns on steroids.

Good luck to American economy,

Yours truly,

Rais Khan,
Fremont, CA

Users' Comments (0)

Comment an article   Name   E-mail    Title  Notify me of follow-up comments Enter what you see:

No comment posted

< Prev		Next >