SDNR
Kraftwagen König
Many economists believe the world is heading for major economic turmoil - put simply, the Western world is living way beyond its means - the most frightening example is the USA -the world's largest economy is in serious trouble.
Take an example by the British financier and author Jim Mellon; ....every man, woman and child in the US imports approximately $16 worth of foreign products every day, but they only export $9 - there is a gap of $7 - now 7 dollars every day for every man, women, and child in America (285 million) multiplied by 365 days a year = $650 billion of deficit - The US national debt is over $8 trillion - and the Chinese and Japanese central banks buy the US government debt - but sooner or later the US will have to pay it back - check this website U.S. National Debt Clock. Also we are seeing huge job losses - Ford has just announced that it will be dropping a quarter of it's workforce.
Of course the US is not alone, the entire western world is living well beyond it's means - many people are living with vast personal debt while others have invested much [borrowed] money in over-inflated real estate markets.
Western manufacturers are finding it impossible to compete with cheaper imports (or labour costs) from Eastern Europe and particularly China.
Here is a recent book you might find interesting - it is about this looming international crisis.
http://books.global-investor.com/books/22713.htm?ginPtrCode=00000&identifier=
Here is an interesting article.
http://www.economist.com/finance/displaystory.cfm?story_id=5408129
Take an example by the British financier and author Jim Mellon; ....every man, woman and child in the US imports approximately $16 worth of foreign products every day, but they only export $9 - there is a gap of $7 - now 7 dollars every day for every man, women, and child in America (285 million) multiplied by 365 days a year = $650 billion of deficit - The US national debt is over $8 trillion - and the Chinese and Japanese central banks buy the US government debt - but sooner or later the US will have to pay it back - check this website U.S. National Debt Clock. Also we are seeing huge job losses - Ford has just announced that it will be dropping a quarter of it's workforce.
Of course the US is not alone, the entire western world is living well beyond it's means - many people are living with vast personal debt while others have invested much [borrowed] money in over-inflated real estate markets.
Western manufacturers are finding it impossible to compete with cheaper imports (or labour costs) from Eastern Europe and particularly China.
Here is a recent book you might find interesting - it is about this looming international crisis.
http://books.global-investor.com/books/22713.htm?ginPtrCode=00000&identifier=
Here is an interesting article.
http://www.economist.com/finance/displaystory.cfm?story_id=5408129
It's the anti-mortgage and what a mortgage should not be! The principal owing should go down after each payment, not rise further. I also asked him what he'll do if the collateral, the property, falls in value. I'm still awaiting my response. I don't know why property has become so hot all of a sudden and it's very international, not just Asia, Europe or Australasia. The artificially low interest rates can't explain all of the gains in property prices. Any ideas?
