Is the US heading for Recession

(Firstly can someone PLEASE give me the correct spelling of that so i can correct the title)

The point of the thread is twofold

1) to see if people really think the US will fall into a ression

but secondly to ask now that China and India are so big will it really matter to anyone OTHER than the US if they do

 

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Do you see in the upper left hand cornor of the reply box where the little check is located and under it is ABC. Try using that to check your spelling for it works great for me.

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Recession

 

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Sure it does!

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Irony at its best!

 

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I did that jus ta get your attention, I know how to spell corner.

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if you people dont get on topic i will delete your posts

 

The spelling is correct.

Any recession from the the U.S. will rebound around the world, the globalization of the economy make it impossible for a major recession in any first world country not to affect the rest of the world, its like a cold, everybody gets it

 

Don't you guys read the newspapers?

US economy heading for a recession - Standard Chartered

Recession at US’ doorstep

UK Stock markets tumble on US recession fears

Oil falls towards 90 usd on US recession fears, hopes OPEC will up production

Japanese Stocks Fall for Fourth Day on U.S. Recession Concerns

Fears of a U.S. Recession Hit European and Asian Markets

How many of you have seen stores closing down? Probably mostly in small town malls?

 

India and China will simply cool down but I doubt a recession will happen. The rest of the world will follow the US into the doldrums.

 

Actually the ecconomic comments here in Australia are that a US recession may actually help the australian ecconmy because we are so dependent on china which has a 12% growth rate currently. if the US goes bust china may drop to an 8% growth rate (acording to the econimest on ABC radio adelaide) which wouldnt slow Australian exports but which might make it more sustainable.

So although it used to be the case that if the US sneased the rest of the world caught a cold it may no longer be the case.

 

Yeah, India is expecting a slight slowing down of the economy too, which may be good considering we are not equipped to deal with the speed at which we are growing now.

Give us time to build on infrastructure for which we are already using mostly Chinese products. Also make American scrap metal and scrap paper cheaper which will be a tremendous boon, since we import it from the US and convert it to higher value commodity products that Americans (and other Western countries) buy.

 

Australia's national debt is very high...about 90% of GDP, which wouldnt even qualify for membership in the EU.

This is a huge drag on the economy, which might be pushed over the edge by a worldwide slow down.

 

Be VERY intrested to see your figures on that. Also are you refering to private debt or goverment debt and if goverment debt at which level of goverment? Because "Surposedly" the federal goverment has no debt (although i would belive peter costello about as far as i could throw him)

 

Just look up 'Economy of Australia' on Wikipedia.

Divide the public debt at 585 billion by the GDP at 645 billion and viola!

To qualify for membership in the EU a nation cannot have more than 60% debt to GDP.

 

would it surprise you to learn that wikipedia isnt concidered to be a relable sorce at uni?
I only ever use it for infomation on games and TV programs

Try finding statistics from the ABS, the australian parlimentry libary or the UN or even the CIA fact book but not Wikipedia.

for your infomation this is the australian federal budget for 2007
http://www.ato.gov.au/budget/2007-08/bp1/html/bp1_bst9-01.htm

 

I think Wiki is fairly accurate on major figures. There was an article in Australia's News Weekly stating that the national debt was up to 400 billion...and that was three years ago.

http://www.newsweekly.com.au/articles/2005jan08_e.html

If Aus has suddenly reduced the debt to zero in just a year or so it must have involved the privatization of public industries perhaps.

 

well that artical refered to private debt not goverment and it also never referenced its sorce.

Im sorry but wikipedia and news articals with no sorces are not nessarly accurate. I would rather you gave an athotive sorce. Im not saying your wrong but the sorces you give are quite poor for the area's your using them

 

No it makes a distinction between 'national debt' and 'foreign debt':

"Australian national debt has sky-rocketed to $400 billion during the Howard administration, but no one dares complain because the alternative - paying down the debt or stopping the borrowing - is an awfully unattractive option with fearful consequences for business and jobs."

I looked it up on the CIA factbook but their figures are two years old.

 

Well, I think India and China can take the slack, If the US pulls out, So will Europe, some countries dependent directly on the US might falter.

 

the figures in that artical are at least THREE years old so i would go with the CIA fact book if i was you

 

Canada may suffer, they have too much business south of the border.