Is America in a financial crisis at the moment? How would you describe it?

Answer 1

The financial crisis (if there is one) for the US economy is the housing crisis. Due to the housing bubble of the 1990's and early 2000's, home prices inflated at a far higher rate than the overall economy. Over the last couple of years, as adjustable rate mortgages reset to higher rates, foreclosures have risen dramatically, which further depresses prices as more existing housing comes on the market.
There isn't really a serious crisis in the housing market, it is just a correction, spurred by years of loose lending practices and the ever higher real estate bubble. This has ripple effects through the economy, as people who thought they had a lot of equity stop borrowing against their houses to make purchases, and construction related industries soften.
Eventually, the housing bubble will fully deflate, like all the bubbles before it, but in the meantime it is a painful reminder to consumers not to stretch themselves beyond what they can afford.

Answer 2

Yes America is in a financial crisis. Different people are going to experience this crisis differently based on their spending habits and the quality of life they are used to. But the mortgage crisis meltdown is bringing everybody back on earth. Just look at the dollar. It has dropped approx. 40% in the last 8 years. ex. The Chinese have invested billions in U.S. companies and have recieved handsome profits ( in 8 years). Some reports say as much as 1 trillion in profits ( in U.S. dollars). But, becuase of the valuation decline ( 40% decline), that means the 1 trillion is now worth 600 billion. The financial crisis as bad as it sounds is good. It will wake some people up, like myself who need to woken up. In short don't trust in money but in Jesus.

Answer 3

If America were a corporation, we would be insolvant.
We are trillions in debt, with an economy on the brink of recession.
The dollar is falling fast (now worth less than the Canadian dollar).
We are facing a massive influx of underpaid laborers driving down wages and partaking of social services without replenishing the tax base.
We have a crumbling infrastructure with no reserves to repair or replace.
We are engaged in overreaching international military operations.
More and more of our top percentage income earners are seeking international tax shelters, while the middle and lower classes are seeing thier incomes grow slower than inflation.
Need I go on?

Answer 4

Financial crisis is when you cannot withdraw money from your bank (or pay via check or debit card)

So there is no financial crisis. Debt is indeed larger than ever, and economy is slowing down, and we might be in recession already, but this kinda normal since market economy has its cycles.

Answer 5

Yes. And an event of some kind will be used to bring in a new currency for America, Canada and Mexico. The event will lead Americans, Canadians and Mexicans into believing that they have to except the new currency to avoid a economic disater, wich will happen anyway.

Answer 6

i'm vote casting for Ron Paul and you're rather acceptable on the arrival melancholy. yet exaggerating the melancholy and asserting Ron Paul is the only way out merely makes you seem nuts. there is possibly going to be a melancholy. i do no longer think of Ron Paul will preclude it. And except we get an exceptionally advantageous conservative congress in place of work on an identical time i do no longer think of he can do lots to decrease it.

Answer 7

9.2 trillion in the red and growing. I consider it a disaster looking for a time and place to happen.