Quote:
Originally Posted by cheerfulgreek
The thing that kills me is how everyone is so afraid of China and Japan doing better than the U.S. I call bull on this. Several significant enonomies including Canada, China, Japan, Mexico, South Korea, and much of Southeast Asia are heavily dependent on exports to the United States. We are the worlds biggest consumers, so if our ecomomy is totally screwed, so is China's and Japan's.
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I have been wondering about this for a while now. As our national debt increases in addition to the recent mortgage crisis and now some Federal loan programs being discontinued, I wonder if European Union or Japan will surpass the U.S.
My husband and I are in the process of looking for a new house and as everyone knows it IS a buyer's market. Not surprisingly, the majority of homes we have looked at are pre-foreclosure are already in foreclosure. We looked at a nice sized house (not even 2 years old) last weekend and the owners were so desperate to make a sell, they have it listed at a ridiculously low price (3 bdrms, 2 1/2 baths, 2-story for $112,000!!).
I am very concerned about our economy and wonder how much more we will have to pay for goods and services. It will be interesting to see how some people who have gotten used to a "comfortable" lifestyle will adjust paying more for less and unable to keep up with the Jones'.
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