Economy

So here I was enjoying my vacation week in China. After the week I got home to find out that the US has started some rescue fund to save the banks and that this small instability caused the members of the European Union to lose contact with eachother and decide to save their people on their own. Also, the government of my country (Holland) decided to buy the Dutch part of the Fortis bank which was about to collapse, and Belgium and France bought other parts along with Dexia.Stockmarkets worldwide are writing off heavy losses, and even China is not safe from this any more. Where will this go? Is this the collapse of the world economy (and US) we've been postponing? Comment.

Wow, you sure have missed some things :D
Anyway, this has been happening since the price rises of fuel. Everyone knows that the world relies on oil, when that rises the government start spending more, pushing taxes up, which we pay and have to get loans off banks who pay and give away too many loans so they go bust and rely on the government to bail them out which makes the government pay more, so it's one big circle which is hard to escape.Off-Topic- Did you have fun in China?

But the oil prices just dropped. When I left three months ago they were hitting 1.70 euro here. Now I heard they are around 1.40 euro again. Latest news is that an Icelandic bank can no give out money and that Japan is also feeling the pain. The IMF says that this is the "most dangerous crisis since the '30s". It's going to be a strange year.Offtopic: I'm a software engineer (trainee) and just finished my chinese digital tv transmitter program. Single person project, 3 months, mpeg-2 systems analysis and continuous pci transfer program. I have a salary of about 1.5 euro per hour, but here that's more than enough. :D

Well, it might have dropped but it's taken too long and now, it's too late. So everyone is feeling the pinch and i just hope it sorts itself out really soon.Off topic - Is a software engineer like a programmer or completely different because sounds like you got a nice job. Bit low pay though. Oh well, as long as your happy.

I personally think it has more to do with the banking systems greed,giving out loans to people who they know will never be able to pay back the money and then selling those bad loans to other banks for high profits.Sooner or later the butcher has to be paid but unfortunatley it is the common person who will suffer the consequences.People are starting to lose their jobs and even their homes,they cant afford to buy items so the businessess have to start laying off more people and so it all ends up in a vicious circle. :(

Pretty much...
The economy of the world IS going to collapse, and there's no mistaking that. Anything that the United States does with "bail out" or any of that garbage isn't gonna cut it. They're just wasting billions of dollar's of tax payers money for trying to save there country. The sooner things go down, the sooner they bounce back.In my opinion. The government shouldn't do anything. Let the economy crash. The faster it does, the faster it'll get back up.

well IMO ,when the economy crashes,US will find someone to bail them out.

Replying to #7

Are you sure about that, considering the US has dragged every other country in the world into recession as well?

Once · #7Economy

Was always destined to break.
Soon the next big war begins, ultimately over paper and sludge (money and oil)