Quote:
Originally Posted by Mike33
I agree, many people are ignoring how relative the situation is because they're only focusing on the domestic economy. We're in the pits, but so is the rest of the world. When we recover, they recover. Without us recovering, not only are we in dire straits, but so is the rest of the world. This isn't to say that a time will come when another nation or group of nations will be able to supplant America and America's role, but I don't think that time is now or in the near future.
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The euro zone is in better shape then as a debt to GDP ratio. The BRIC countries are in a lot better shape then us. We are seeing the cracks this morning in the t-bills. Should be an interesting week.