The SuperPower US has its economy shrinking and the Stock Market has crashed worst since the last time in 1929.Will it follow the Era of Great Depression ? One cannot say it now.
The US Congressman has rejected the Bailout worth 700 billion USD proposed by the President George W. Bush,eventhoug both Democrats and the Republicans tried to put their head together to pass the bill. This has further led to the Deadlock in resolving the economy crisis.
``Americans are angry, and so are my colleagues,'' said a Republican Leader ``They don't want to have to vote for a bill like this.'' After the 85 billion rescue of AIG's ,the government tried to bail out all the other banks and companys which was on the verge of collapsing or being Bankrupt, but President Bush didnt had enough support this time, not even from the congressman of his Home State and his own Party. :-P
The First live debate between the presidential candidate wasn't vivid too,as both of them couldn't suggest the wayout.Senator Obama went on blaming 8 years of Bush administration for the jeopardy in economy now,whereas Senator McCain defended president Bush.But, both of them said they would fight out the Crisis and resolve it if nominated as the President ;-). Darn the indignation :D
Whatever may be the reason for the Crash,the economist are busy brainstorming to find the way out to solve the crisis.Everyone's busy to save the US from drowning ASAP.Some say it as the start of New Era,the Rise of Asia as the Next Super Economy(H.K), whereas some quote, This is just another * new * crashdown which will be solved and will become History,just like 1929.President Bush claims it to be another test of the American Strength.
Soon the Bail was rejected, it also affected the world market.Markets in Asia and Europe was down and the investors were skeptikal about their investment. People dont know what to do with their money. The Capitalist principle has failed again, and the President Bush move mimicks the socialism.The socialism to bail out some 14-15 CEO's and the WallStreet,which was doomed by the catpitalism.The inflation in the world is followed by the WallStreet Devastation.This doesnt beckon good economic future of World .As the citizen of LDC's i would just wish the World Economy to be stable and the inflation to go down, so that we wouldnt be the victim of economic warfare of the First World Nation.All i can do is,
---Let my clothes to dry naturally, use sunenergy---
