America in the Worldwide Economy

The US economy is definitely in an "economic downturn" the latest bailout (corporate welfare) of Bear Stearns has to be the biggest cover-up of a defunct financial market in US history. Bear Stearns's capital base of $17 billion had dwindled to $2 billion in cash, and Bear Stearns told government officials that it saw little option other than to file for bankruptcy the next day. Had the government let this Investment Bank go bankrupt the entire banking industry would have stopped dead in... Read Full Story

Wikizines are interactive magazines that anyone can create or edit - and this one is called "America in the Worldwide Economy". Here you can find fresh voices and respond in real time. Some members write articles about recent news and trends related to the wikizine's topic, others recount relevant personal stories or share their favorite pictures and video clips. Got an interesting idea or story to share with other members of this wikizine? Well, then put on your journalist's cap and add... Read Full Story

The text book definition of recession is two consecutive quarters of shrinking GDP output. The reality is "when your neighbor loses his job." The fear is that you are next. I remember the recession of the Bush-Quayle years, The war in Iraq (called the Gulf War) and the dismal economy of 1992. I was fresh out of college, brand new wife and child (2 yrs old) my name sake. Things were bad for others; but we (my wife and I) both had good jobs although we feared lay-offs... Read Full Story

The Peoples Republic of China , a billion people strong and growing has been a closed society to much of the world. ... Read Full Story

The $100 fill-up has arrived in the United States. No more than a few years ago if someone would have told you that a fill-up could run upwards of $100; you would have laughed loudly to their face. No ones laughing now. (But the execs at "Big Oil" Companies are wearing a grin). Crude Oil which had been trading at the $20 range, and had never hit $50, has now broken through $120 a barrel. The national average for regular unleaded is $3.53 and rising daily. Last year at this time, people were... Read Full Story