The Real State of the Economy – Good or Bad?
There are some things about the US Economic climate at this time that I for one don’t get. Nowadays it could be that being a brit, I am a little slow on the uptake; it turned out known to happen every now and then but at the moment I cannot comprehend a number of things out. land engineer Scott Nordheimer
Firstly, the UK economy, despite the Chancellors proud claims, is not in precisely the best of shapes but in america, the Authorities is technically, if not practically bankrupt. At this time My spouse and i mean fiscally and this is not meant as some value moral objective viewpoint on the standing of George W and the rest of the White colored House.
It is a fact that the US Government has a overall State Debt of in surplus of $8 trillion us dollars.
Secondly, the United Claims has become a country where almost anyone despite their financial background or financial history can get a personal credit line.
Now in sound monetary times this is fine minus these sorts of arrangements whole economies would disappear over night but it appears to be getting a little bit silly at the instant with bankruptcies and bankrupts getting younger and young as the months go by.
It used to be that credit was reserved for the honored few and though My spouse and i wouldn’t want to go back to the times of the late 19th or early 20TH Centuries it would appear that more and more Americans (and us Brits too it might appear) are relying a lot more on “the old plastic” sitting in our wallets and handbags!
No more do we save what we earn and again not to countenance a return to the days of prudence and thrift whereby nothing was bought until you could go in with the money, this “live for today and hope for an improved tomorrow” ethic could be bringing more problems than we reckon.
One of my worries about the economy is the lack of real, meaningful and independently verifiable statistics. When we trace back through the of the National Reserve, we can see that it has regularly devalued the currency by expanding the money resource. This practice is still in use but the challenge we have at the moment is the truth since they stopped confirming the M3 Money source numbers, no person knows exactly how and what they are doing.
If you check carefully and read between your lines of the financial press it would seem to be that a majority of foreign excellent are looking for ways to withdraw from ALL OF US Currency holdings into something more stable.
As an aside of how risky everything is the second, anyone who has any connection with dealing online in eCommerce would be well advised to check out how expensive their transactions are at the moment. For instance, anyone outside of the US who have a site that is getting any form of advertising earnings via Google’s AdSense Programme at present has suffered a real time drop of earnings of approximately 3% in the last month roughly.
This kind of is not down to anything that goes on at Google. Approximately a month ago the exchange rate between the dollars and sterling was roughly 1 ) 80 as well as 1. 81 dollars to every UK pound. Previous weekend most online ventures and exchanges were looking at a rate one particular. 865 dollars to the pound.