Something that I have been interested in learning more about has been The US Economy. I remember someone I know talking about how the dollar is going to collapse and stuff and that the economy is going to fail and there will be martial law in the United States but I personally think this is bogus nevertheless I wanted to research it more. I know that many people feel that the economy is in bad shape and I wonder how bad is it?
One thing that I know for sure about the US Economy is that it is the largest economy in the world. Now I've studied my share of Economy of the United States and even tough it may have suffered a recession recently it is still the greatest economical power in the world by far in almost every term. Personally its funny to me how people get paranoid about how the dollar is going to collapse and there is going to be the end of the world.
The Economy of the United States has been the worlds largest economy and the worlds largest manufacturer representing 19% of the worlds manufacturing since 1944. Its nominal GDP was estimated to be $14.3 trillions in 2009 approximately a quarter of nominal global GDP. The US dollar holds about 60% of world reserves, as compared to its top competitor the euro which controls about 24%. The US is by far the most heavily invested-into country in the world, with foreign investments made in the US measuring almost $2.4 trillion which is more than twice of any other country. The US is also by far the largest investor in the world, with US investments in foreign countries totaling over $3.3 trillion, which is almost twice of that of any other country. So the possibility of the American dollar failing is crazy besides the fact that The United States public debt is in an excess of $13 trillion and continues to grow at a rate of $5.48 billion each day by direct calculation between Jan 31, 2010 and August 31, 2010. The United states is ranked fourth down from the first in 2008-2009 due to economic crisis in the global competitiveness report. The country is one of the worlds largest and most influential financial markets home to major stocks and commodities exchanges like NASDAQ , NYSE< AMEX, CME and PHXL. I really think that looking at charts the US economy has had its ups and downs but mainly is going up steadily and I don't think its going to fail anytime soon.
Being that I didn't have allot of background information on the United States economy. I chose to do some research on the topic were I came across this article from which i took my information http://en.wikipedia.org/wiki/Economy_of_the_United_States. This article provided a lot of information and very interesting facts which i never knew about. This really says everything you need to know straight forward.
All this makes ,e think that the U.S economy is mainly going up as it has always been and not crashing down like other people except it to do. Its just stagnating at the current time and that's all there is to it.
Very interesting picture representing how the banks kept lending to everyone taking so many risks even loaning to people without searching to see if that person is even alive!! and that's what led to the crash in 2008.