Marching_On_Together

by **Twong** on Fri Mar 21, 2008 5:39 pm

http://www.dailystar.co.uk/latestnews/v ... ecession-/

An influential report has warned the world's biggest economy is on the verge of recession, which could spell major problems for the UK.

A draft version of the International Monetary Fund's World Economic Outlook concluded the US economy "remains very weak, certainly close to a possible recession".

The warning comes after the Bank of England on Thursday pumped an extra £5 billion into frozen money markets in a bid to stave off crisis.

by **paul_lufc** on Fri Mar 21, 2008 5:47 pm

just when youthought it couldnt get any worse

by **Twong** on Fri Mar 21, 2008 5:50 pm

Batten down the hatches
and get ready to tighten your belts
As a puppet of the U.S.A. it's gonna happen here.

by **christine** on Sat Mar 22, 2008 7:52 pm

Twong wrote:Batten down the hatches
and get ready to tighten your belts
As a puppet of the U.S.A. it's gonna happen here.

you have no idea what it's really like being the puppet of the u.s.a. :cry:

by **christine** on Sat Mar 22, 2008 8:03 pm

the real problem started there when the banks in the u.s. started giving mortgages to everybody and their dog. you didnt need any money down at all. and then when the real estate values went down, people found that they actually owe more on their mortgage that what their house is worth, so all the banks are foreclosing and its costing millions and millions of dollars. this is because all the americans want to live the dream of owning a house, at all costs and without being able to afford it. it's so ridiculous!

the canadian dollar has gone up as a result, but this is going to be short-lived and we will soon be in the same recession as the u.s.a. and with the presidential election coming up this november it will be even worse. if the democrates get in (clinton or obama) they will be very protective and will close up the free trade agreement canada has with the u.s. and our lumber, oil industies, etc. will all suffer. so good luck to us all!

Marching_On_Together

America heading for recession

America heading for recession

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