U.S. economy falling at fastest pace in 26 years

PSS has touched upon an important point which is failure of the Obama administration to solve this recession will have severe consequences all over the world.Countries with weak economic and social infrastructures will suffer immensely.
However, i have my doubts as to whether any economic stimulus without caveats will
stop the world recession from
turning into depression.
We need a new financial system which will be based upon the production of real goods and services and not based on the present speculative whirlpool.
Therefore,new financial institutions will be required
to meet the needs of the world population at large and not the needs of the world bankers.
In the meantime we are seriously f..... and the next few years could be very ugly indeed.

Don't know how far US will fall, but to all those who are hoping for the worst, just remember it is going to hit smaller countries about 100 times harder.
The world is different today, we are a global economy. example Russia was getting $150 a barrel for oil last summer but due to the world economics they are getting less than 40 today.
So for anyone hoping to see the US on their knees in this time remember they will probably be kneeling on the heads of countries with fledgling economies.
Be careful what you wish for.

Let's face it... the world is just one big game of chess... Russia the King on ones side with it's Queen China... and the USA on the other side with the UK as it's Queen/Puppet!!

As the English would say, "Pride comes before a fall".

As the English would say, "Pride comes before a fall".
(lowe, 31 January 2009 12:35)

"So you are saying that Russia is about to fall?
(Slipknot, 31 January 2009 14:45)"

I think it would be pretty obvious to anyone with an iota of common sense that I was not referring to the Russians in my post.

As the English would say, "Pride comes before a fall".
(lowe, 31 January 2009 12:35)

So you are saying that Russia is about to fall?

Leonidas, you are 100% right but I don't know what the answer is, there has to be a balance between govt controls and free marketing.
The financial industry must be more heavily regulated without being under total control of any government.

Paul/UK your analogy is totally wrong.
The China, Russia, US relationship is more triangular. China and the US have a lot of economic dependence but at a distance. China is not eager to slide to the position of Russia's queen anymore than to the US. It will continue to be a free thinker and make its own decisions, without allowing itself to be put in the situation where someone else is calling the shots.
In a chess game the queen is worthless without the King, while the King is damaged but survies without the Queen. This is not your China-Russia relationship

As the English would say, "Pride comes before a fall".
(lowe, 31 January 2009 12:35)

So you are saying that Russia is about to fall?

Don't know how far US will fall, but to all those who are hoping for the worst, just remember it is going to hit smaller countries about 100 times harder.
The world is different today, we are a global economy. example Russia was getting $150 a barrel for oil last summer but due to the world economics they are getting less than 40 today.
So for anyone hoping to see the US on their knees in this time remember they will probably be kneeling on the heads of countries with fledgling economies.
Be careful what you wish for.

As the English would say, "Pride comes before a fall".

Leonidas, you are 100% right but I don't know what the answer is, there has to be a balance between govt controls and free marketing.
The financial industry must be more heavily regulated without being under total control of any government.

Paul/UK your analogy is totally wrong.
The China, Russia, US relationship is more triangular. China and the US have a lot of economic dependence but at a distance. China is not eager to slide to the position of Russia's queen anymore than to the US. It will continue to be a free thinker and make its own decisions, without allowing itself to be put in the situation where someone else is calling the shots.
In a chess game the queen is worthless without the King, while the King is damaged but survies without the Queen. This is not your China-Russia relationship

Let's face it... the world is just one big game of chess... Russia the King on ones side with it's Queen China... and the USA on the other side with the UK as it's Queen/Puppet!!

PSS has touched upon an important point which is failure of the Obama administration to solve this recession will have severe consequences all over the world.Countries with weak economic and social infrastructures will suffer immensely.
However, i have my doubts as to whether any economic stimulus without caveats will
stop the world recession from
turning into depression.
We need a new financial system which will be based upon the production of real goods and services and not based on the present speculative whirlpool.
Therefore,new financial institutions will be required
to meet the needs of the world population at large and not the needs of the world bankers.
In the meantime we are seriously f..... and the next few years could be very ugly indeed.

As the English would say, "Pride comes before a fall".
(lowe, 31 January 2009 12:35)

"So you are saying that Russia is about to fall?
(Slipknot, 31 January 2009 14:45)"

I think it would be pretty obvious to anyone with an iota of common sense that I was not referring to the Russians in my post.