Well even if the economists are still arguing about it, the people of the US know they are in a pretty deep state of recession.

So far this year alone, over 350,000 low paid factory workers have already lost their jobs.

Unemployment levels have passed 10%

There are over 250,000 home foreclosues, every MONTH, that is over 8,000 a day, holy crap!

House prices are plummeting.

The building sector has lost 500,000 jobs since '06.

The Stock Market is down 20% from it's peak.

Lack of regulation has seen economic irresponsibility lead to collapses in the banking sector.


So while the US government has lowered interest rates, and printed more money,  two things they are supposed to do to counter recession, is it likely to be enough?

I am no economist, and would like to hear other people's ideas on this situation.

We are told that we in Oz, are still in good shape, but I must admit to having some concerns.

Some are advocating tight monetary control by the government, is that a good idea?

So, any of you guy's who have some idea about economics, give us your two cent's worth.

yes, the USA is in serious problems. This has been brewing for some years.

The whole world will feel the effects, the only sector we have that is doing much is mining. Farming is likely to worsen.

tough times ahead, to make it worse, we have the ALP at the helm making uneconomic decisions.