After so many prosperous years of United States of America in today's modern world has come to an end. Although not many 'Americans' (not include Native American, the Red Indians) which migrated from other countries during World War I, II and after the Great Depression, will admit it, but the world is watching it sinking. It was like Titanic.
The reasons are as follows;
1. America's economy is driven by debt.
Comment: Japan, China, India, Arab Nations, South Korea, Singapore and many more countries are having reserve in Dollar. Further, 3 Asia biggest economy are holding enormous amount of US debt paper.
2. American community has the largest debt in the world and every citizen generally is borrowing more than 100% of their income.
Comment: How can you survive with debt!
3. Nation of liars and bluffers. Their leader is the greatest liar ever. Their rating agencies quitely hiding sub-prime problem by rating those numerous CDO a many 'A's until it burst. And on their leader, he is lying from WMD (weapon of mass destruction) in Iraq, to the revenge of his 'senior' who lost during the Desert Storm (replace with Shock and Awe).
Comment: Conflict of interest.
4. Sinking US Dollar.
Comment: As of now, nobody seems like trying to save US Dollar from falling. What we are hearing now is Dollar is going down further. From 2 oil nations, Iran & Venezuela, suggesting to sell oil in other than Dollar currency, Arab nations propose to De-peg their currency from US Dollar (who are having their currency peg to Dollar). It is only rational to de-peg rather than watching your purchasing power depreciating with US Dollar. And it is only rational to trade oil in other currency when you watching your product goes down in price while the quality is the same. These factors are all due to weakening US Dollar.
I hope other nations will learn from this nation. Asia has learnt from Asian Financial Crisis to have adequate savings to weather their nation from currency and economic attack.
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