Wall Street Woes - USA

US to spark new global recession?

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The volatility of the world stock markets is fueling more uncertainty about the prospect of another global recession. With politicians squabbling over how to reduce debt, the mood in the US is decidedly edgy.

"It has been a roller-coaster ride this year, it really has.The market has lost 2.9 trillion dollars within the last three weeks", says one trader. Although Wall St has recovered many of the losses from the last month, no one denies that the cost has been high; tarnished credentials, scarcity of jobs and the repercussions of spending cuts that will be felt around the world. Some inside Wall St say that the debt ceiling negotiations and the subsequent downgrading of the US credit rating is completely absurd, serving only as a distraction to the deeper problems."I think it is like Wiley Coyote walking off the side of a cliff. Eventually we will look down and realise we are not standing on anything." But others have faith in the US dollar, convinced that as the world's reserve currency it will always survive and be accepted. The question is; who will pay the price?

A Film By SBS
Distributed By Journeyman Pictures
August 2011

Category:

News & Politics

Tags:

• USA
• United
• States
• US
• Global
• Recession
• Stock
• Market
• Debt
• Wall
• Street
• Traders
• Journeyman
• Pictures

[RenegadeTimes]

Is it me or is debt ....DEBT ? Let's call it what it is..a criminal monetary heist sanctioned by the U.S. gov't. and dumped onto the backs of the people.

Systemic corruption is the rule of the day ! This includes the S&P and their "late to the party so we benefit and then lower the rateings."

[KrakDag]

Debt, n. An ingenious substitute for the chain and whip of the slavedriver.

-Ambrose Bierce, from "The Devil's Dictionary"

[CrossCreed4800]

Occupy Wall Street!

[ho2cultcha]

democrats have been complicit, but the republicans are GUILTY for causing tremendous debt, instability, and chaos in the markets. they should be in jail along w/ their banker buddies.

[HarryRay]

@robi2000 thats the nature of capitalism, which enlightened public policy is meant to curb to level deemed more socially beneficial, ultimately seeking the right balance between dynamism and civility.

[Clausewitzz]

Debt is the devil.

[robi2000]

In the USA there's been more and more a prevailing ''whatever it takes and however i can get ahead of the next guy'' attitude. And it goes from the richest people down to the lowest criminal and permiates everywhere in between. Competition is fine, but it's become so predatory. Those who have lots cannot and do not and will not relate to many of the masses whom they screw with our junk processed food to the money stolen and scammed.

[woo081]

that may be true but at least Australia's fiscal situation is under control and our governement doesn't spend trillions policing the entire world

[RaytheonPwnsYou]

@woo081 Same could be said about Australia dude. You're a western NATO country, the same as us. From what I hear its a bunch of Green-Nazi's in office. The whole world is corrupt.

[woo081]

@RaytheonPwnsYou its the american people who let this happen they elect the currupt leaders of their country and none of them seem to have the balls to do anything about it

[RaytheonPwnsYou]

@woo081 How can you wish ill on an entire nation of mostly innocent people? I'd do the same to you but UNLIKE you my parents raised me well so I will wish you good luck.