Zandi said the recession in the US began a year ago. But it wasn't even 3 months ago that everybody including the experts were asking if the US was in recession or not. Talk about denial. .LOL
Mark Zandi with the research firm Moody's Economy.com says that while the Bush administration has indicated a short-term bailout is forthcoming, the details are unknown. Zandi says even if $14 billion were provided to Detroit carmakers, the long-term viability of the U.S. industry is not assured.
Anything that Bush does now won't alter his legacy.
He prosecuted an illegal and immoral war in Iraq which will haunt the American psyche for many generations to come.
On the economy he endorsed deregulation which has now imploded on an unimaginable scale,he run up massive deficits believing that cutting taxes would actually stimulate activity which in turn will bring more revenue to his treasury.
There are people claiming that Bush portrayed America as it is.Bullying,brutal and
contemtuous of world institutions and small countries.
I personally don't subsribe to such a statement, i just think that Bush would've been
incompetent for any job let alone that of president of US.
Right now the US, together with the rest of the world, they are actually in a mess of unimaginable proportions.
Scandals and frauds are made public daily and there hasn't been any serious attempt to overhaul the system.
Instead politicians act sporadically with old recipes
which fudge the problems rather than providing any solution.
The car industry is finished in its present form and will need complete reconstruction from its ashes.The US have both the capacity and the know-how to succeed.Any solution must be based on a new transport requirements,cleaner energy and new technologies.
"Zandi says it would be disastrous if one of the "Big Three" car companies - General Motors, Ford and Chrysler - were to go bankrupt in today's economy. He says that would trigger the loss of 2.5 million jobs. Since the U.S. recession began one year ago, the economy has lost 2.7 million jobs. America's unemployment rate now stands at 6.7 percent. "
Disaster for many Americans certainly! That's what you get for living the high life for too long on credit!
But what disaster for others??? I'd bet you the likes of Fiat and Honda will be grinning from ear to ear should those US car manufacturers really do go bust!
Mark Zandi with the research firm Moody's Economy.com says that while the Bush administration has indicated a short-term bailout is forthcoming, the details are unknown. Zandi says even if $14 billion were provided to Detroit carmakers, the long-term viability of the U.S. industry is not assured.
Anything that Bush does now won't alter his legacy.
He prosecuted an illegal and immoral war in Iraq which will haunt the American psyche for many generations to come.
On the economy he endorsed deregulation which has now imploded on an unimaginable scale,he run up massive deficits believing that cutting taxes would actually stimulate activity which in turn will bring more revenue to his treasury.
There are people claiming that Bush portrayed America as it is.Bullying,brutal and
contemtuous of world institutions and small countries.
I personally don't subsribe to such a statement, i just think that Bush would've been
incompetent for any job let alone that of president of US.
Right now the US, together with the rest of the world, they are actually in a mess of unimaginable proportions.
Scandals and frauds are made public daily and there hasn't been any serious attempt to overhaul the system.
Instead politicians act sporadically with old recipes
which fudge the problems rather than providing any solution.
The car industry is finished in its present form and will need complete reconstruction from its ashes.The US have both the capacity and the know-how to succeed.Any solution must be based on a new transport requirements,cleaner energy and new technologies.
"Zandi says it would be disastrous if one of the "Big Three" car companies - General Motors, Ford and Chrysler - were to go bankrupt in today's economy. He says that would trigger the loss of 2.5 million jobs. Since the U.S. recession began one year ago, the economy has lost 2.7 million jobs. America's unemployment rate now stands at 6.7 percent. "
Disaster for many Americans certainly! That's what you get for living the high life for too long on credit!
But what disaster for others??? I'd bet you the likes of Fiat and Honda will be grinning from ear to ear should those US car manufacturers really do go bust!
Zandi said the recession in the US began a year ago. But it wasn't even 3 months ago that everybody including the experts were asking if the US was in recession or not. Talk about denial. .LOL
"Zandi says it would be disastrous if one of the "Big Three" car companies - General Motors, Ford and Chrysler - were to go bankrupt in today's economy. He says that would trigger the loss of 2.5 million jobs. Since the U.S. recession began one year ago, the economy has lost 2.7 million jobs. America's unemployment rate now stands at 6.7 percent. "
Disaster for many Americans certainly! That's what you get for living the high life for too long on credit!
But what disaster for others??? I'd bet you the likes of Fiat and Honda will be grinning from ear to ear should those US car manufacturers really do go bust!
Mark Zandi with the research firm Moody's Economy.com says that while the Bush administration has indicated a short-term bailout is forthcoming, the details are unknown. Zandi says even if $14 billion were provided to Detroit carmakers, the long-term viability of the U.S. industry is not assured.
Anything that Bush does now won't alter his legacy.
He prosecuted an illegal and immoral war in Iraq which will haunt the American psyche for many generations to come.
On the economy he endorsed deregulation which has now imploded on an unimaginable scale,he run up massive deficits believing that cutting taxes would actually stimulate activity which in turn will bring more revenue to his treasury.
There are people claiming that Bush portrayed America as it is.Bullying,brutal and
contemtuous of world institutions and small countries.
I personally don't subsribe to such a statement, i just think that Bush would've been
incompetent for any job let alone that of president of US.
Right now the US, together with the rest of the world, they are actually in a mess of unimaginable proportions.
Scandals and frauds are made public daily and there hasn't been any serious attempt to overhaul the system.
Instead politicians act sporadically with old recipes
which fudge the problems rather than providing any solution.
The car industry is finished in its present form and will need complete reconstruction from its ashes.The US have both the capacity and the know-how to succeed.Any solution must be based on a new transport requirements,cleaner energy and new technologies.
Zandi said the recession in the US began a year ago. But it wasn't even 3 months ago that everybody including the experts were asking if the US was in recession or not. Talk about denial. .LOL
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