11 Places With a Worse Economy Than Ours

[Peacetrain]

http://news.yahoo.com/s/usnews/20090710/ts_usnews/11placeswithaworseeconomythanours

From the bottom part of the above link:

If these projections come true, it means the United States, despite its overspent consumers, wrecked banks, and insolvent automakers, will be leading the world economy out of recession. Somehow. The developing world will help, but those high growth projections in China and India can be deceiving. China in particular has government policies that practically mandate high growth, and 8.5 percent in 2010 would be just about the bare minimum to keep employment at tolerable levels. And neither China nor India is a major buyer of American-made goods and services; for the most part, it's the other way around. With much of the developed world trailing the United States, it will take American consumers to ratchet up demand for the world's products. Scary thought.


The IMF does offer a bit of more heartening news: The global wipeout finally seems to be receding. "The world economy is stabilizing," the IMF reports. Its global economic growth projection of 2.5 percent in 2010 is 0.6 points higher than predicted in April. But the global economy isn't expected to gain its footing in earnest until the second half of 2010. Maybe by then American spenders will have come out of hiding.

[Deja Q]

1. Thank you for the post.

By then my budget will be on better track, as I've a car and furthered education to consider. (I am taking the President's words to heart...)

[Peacetrain]

2. Yep I think we tend to forget this is a "global" meltdown.