1. Welcome to Baptist Board, a friendly forum to discuss the Baptist Faith in a friendly surrounding.

    Your voice is missing! You will need to register to get access to all the features that our community has to offer.

    We hope to see you as a part of our community soon and God Bless!

U.S. in role of wounded giant at Davos

Discussion in 'Political Debate & Discussion' started by poncho, Jan 24, 2008.

  1. poncho

    poncho Well-Known Member

    Joined:
    Mar 30, 2004
    Messages:
    19,657
    Likes Received:
    128
    DAVOS, Switzerland: The United States has filled various roles at the World Economic Forum over the past decade: dot-com dynamo, benevolent superpower, feared aggressor, and now, wounded giant.

    On the first day of this conference, a parade of bankers, economists, and political officials expressed deep fears about the faltering American economy, peppered with blunt criticism of its institutions, chiefly the Federal Reserve, which some accused of sowing the seeds of today's crisis.

    George Soros, the financier who made a fortune betting against the pound, went so far Wednesday as to say that the downturn would put an end to the long status of the dollar as the world's default currency.

    "The current crisis is not only the bust that follows the housing boom," Soros said. "It's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency."

    Signs of a new economic order abounded in this Swiss ski resort: the minister of commerce and industry of India, Kamal Nath, noted that China had overtaken the United States as India's largest trading partner - buttressing his view that India could largely sidestep an American recession.

    SOURCE

    Looks like the vultures are starting to circle already. Ron Paul has a plan to fix this. Anybody see it yet?
     
    #1 poncho, Jan 24, 2008
    Last edited by a moderator: Jan 24, 2008
  2. Tentmaker

    Tentmaker <img src=/tentmaker.gif>
    Site Supporter

    Joined:
    Nov 6, 2002
    Messages:
    329
    Likes Received:
    0
    Faith:
    Baptist
    All of these other world "economic gurus" are just using this present downturn (yes it is a recesson) to bash the U.S.

    They all have the good sense to understand (or at least should) that recessions come in cycles. The present is no more worrisome then the ones preceding it.

    I believe on this side of the Rapture the U.S. economy will remain strong. It will come out of this present down turn strong as ever.

    But, if you're planning on being here after the Rapture, put your money in gold. lol
     
  3. poncho

    poncho Well-Known Member

    Joined:
    Mar 30, 2004
    Messages:
    19,657
    Likes Received:
    128
Loading...