How can Europe and America be in a financial crisis?
This is a question that ran into my mind when I saw yesterday paper. How can a big super power country, like America be confronting with this kind of problems. Well as we can see in our paper, TV or on the web, that Bush has a big pimple in his economy. The open minded say that this problem occurs because of the large number of Americans that are out of work, but there are some rumors that say that this crisis was predicted 3 years ago. I also read in an article that they need 700 billions $ plan to save their economy, yes I know a big sack of money. Even so there are some skeptics that don’t believe that it will work, because they believe that you can’t cover a 45 Trillion $ hole with 700 bills.
The numbers are big and European banks like Fortis and Dexia had to be rescued from bankruptcy. Fearful of a massive bank run as the credit crunch spread from the US to Europe, Ireland guaranteed the countrys bank deposit.
What is happening? What does it mean? Well this means that in a few years we are going to get poorer and of course this crisis is going to be felt more by pour people. Some say that it is a moment for a war to start, other say that we are going back to the stone age like in the Flinstone’s cartoons, what do you thing?
This is a question that ran into my mind when I saw yesterday paper. How can a big super power country, like America be confronting with this kind of problems. Well as we can see in our paper, TV or on the web, that Bush has a big pimple in his economy. The open minded say that this problem occurs because of the large number of Americans that are out of work, but there are some rumors that say that this crisis was predicted 3 years ago. I also read in an article that they need 700 billions $ plan to save their economy, yes I know a big sack of money. Even so there are some skeptics that don’t believe that it will work, because they believe that you can’t cover a 45 Trillion $ hole with 700 bills.
The numbers are big and European banks like Fortis and Dexia had to be rescued from bankruptcy. Fearful of a massive bank run as the credit crunch spread from the US to Europe, Ireland guaranteed the countrys bank deposit.
What is happening? What does it mean? Well this means that in a few years we are going to get poorer and of course this crisis is going to be felt more by pour people. Some say that it is a moment for a war to start, other say that we are going back to the stone age like in the Flinstone’s cartoons, what do you thing?
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