The slippery slope of the US economy - 07 Jun 08

Falling stock markets, rising unemployment and soaring oil prices. The world's biggest economy is on the slippery slope to recession.

The US economy has suffered massively. Oil has increased to a record $139 a barrel, the dollar has slumped, and as a result, share prices have plummeted.

Worse still, George Bush, the US president, has announced the monthly US unemployment rate has taken its biggest leap in two decades. 

Rob Reynolds reports.

Category:

News & Politics

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• rob
• reynolds
• us
• economy
• oil
• dollar
• aljazeera
• english

[krayzgerman]

Einstein was right, human stupidity is infinite.

[dustynbones]

DUMP THE REPUBLICANS!

[LIONLIGHTT]

President Lula said on television and in newspapers that he was happy

because the United States of America has economic problems, he is a political physiologist and a bad person. I do not think so, USA is a great country, and has very good people. God bless the United States of America and the American people. I am (half) brazilian and do not live in the U.S.A.

[darladodo1]

[] The Unbelievers spend their wealth to hinder (men) from the path of Allah, and so will they continue to spend; but in the end they will have (only) regrets and sighs; at length they will be overcome

[GODDAMEFAGS]

You cant just dig gold mines in Alaska and make pipelines running throw Canada to the states and say the economy will get better.

[monakhovm]

Very well said.

[saveurhomenow]

Don't Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk

[jaif4]

I think the American public is hopelessly delusional and totally doomed to end up destroying its own foundation, take for example war on terrorism that is the most absurd shit I have ever heard, it was only designed to give Bush and Chaney an open ended wars, to wage wars with out the UN and the delusional public chanted USA USA

Never understanding there is a connection between WARS you WAGE and your Economy.

Well delusional public welcome to war time Economy,feel free to chant USA.

[yahoovisitor]

The period of 6-18 months for the people to learn the harmful basics seems a joke. As majority of US citizens is educated & aware of the economical crisis. Cheap waged laborers are due to growing global population in search of food. But creating joblessness in USA in search of cheap foreign labor is not the answer. It will burst the economy balloon being patched. The interest rates may be revised to the applicable level. But creating disharmony or joblessness doesnt solve the economical decline