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Worldwide Financial Fiasco

Markets around the world hammered by credit crunch as Governments move to secure bank deposits


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well that is true, i hear more about credit crunch now in england than a chocolate or ice cream named crunch, wonder when would the financial crisis end...

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well that is true, i hear more about credit crunch now in england than a chocolate or ice cream named crunch, wonder when would the financial crisis end...

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Re: Worldwide Financial Fiasco

The United States of America (US or USA) has the world’s largest economy. According to the CIA World Factbook, 2007 GDP is believed to be $13.84 trillion. US dominance has been eroded however by the creation of the European Union common market, which has an equivalent GDP of over $13 trillion, and by the rapid growth of the BRIC economies, in particular China, which is forecast to overtake the US in size within 30 years. This is a worrying 67% of GDP and equates to $79,000 for each American taxpayer, a number just over 117 million people. To add to the concern, American consumers are also increasingly dependent on debt and have been re-mortgaging payday advances their houses to higher loan amounts, and using the extra cash to fund high street purchases.

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