2007-09-15 22:19:29 · 9 answers · asked by Alex 3 in Business & Finance ➔ Other - Business & Finance
The United States of America is the most indebted nation on earth. They owe something like $9.1 trillion (and rising) and their annual borrowing is approaching $750 billion a year. Now this is money that they will never ever be able to pay off.
So in a sense, the American economy is built on debt but because Americans are so accustomed to having 'a dollar in their pockets' there will come a future time (not far away) when the whole American economy will collapse. That will see the beginning of a catastrophic global financial crisis the likes of which the world has never seen before.
We are seeing quite a few countries now pegging their currencies to the Euro instead - the dollar is weakening - draw your own conclusions.
Sorry for the gloomy words....
2007-09-16 01:10:04 · answer #1 · answered by ipoian 5 · 1⤊ 0⤋
it is not ordinary to work out the way it gets back interior the close to destiny. With the creation of the euro it has meant distant places investors now have a kind of currencies wherein to hold their reserves. even nevertheless, Europe & Japan are starting to be too high priced so there is usually a manner.
2016-11-14 14:04:13 · answer #2 · answered by ? 4 · 0⤊ 0⤋
at 2 dollars to the pound its great for visitors to the states.
2007-09-15 22:35:05 · answer #3 · answered by country bumpkin [sheep nurse] 7 · 0⤊ 0⤋
Not in the next year or two due the credit crunch caused by the bad practise of sub prime lending.
2007-09-15 22:24:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If we move to the euro, we will go down down down. But as then the pound wouldnt exist then that doesnt really answer the question.
2007-09-16 00:39:59 · answer #5 · answered by honourableone 3 · 0⤊ 0⤋
Not unless the US gets out of debt, which the way its going now will not happen anytime soon.
2007-09-15 22:27:18 · answer #6 · answered by applebeer 5 · 0⤊ 0⤋
Its good for me in the UK I am planning my holiday to Orlando next year I can't wait.
2007-09-15 23:51:06 · answer #7 · answered by Anonymous · 0⤊ 0⤋
If any one can give you a cast iron answer, they would be a billionaire. Who knows.
2007-09-15 22:27:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
DEAR SIR
PRETTY PLEASE READ THIS OK
I DO NOT THINK SO IT ALL COUNTS ON THE MARKETS
AND TRADING DAY TO DAY OK
TAKE CARE
2007-09-15 22:28:19 · answer #9 · answered by ? 7 · 0⤊ 1⤋