Saturday, January 7, 2012

US Economy Crisis: from Boom to Bust

It can be a surprising (shocking) news for some readers who might not aware about the current economic situation in the USA. Will the US economy recover from the recession? When will the USA booming its economy?

Recession doesn't affect the US economy only but also the other parts of the world including the Europe and Asia markets very badly. Every country has different problems to approach and deal its recession crisis.

This is a short video clip (by BBC) featuring the US economy from boom to bust. However, according to the recent news reported that the US economy created 200,000 jobs in December 2011 which we are not sure whether these jobs will be permanent or just part time basis as the festive seasons, ie. Thanksgiving, Christmas and New Year fall within the same month(s).

Recently, Al Jazeera English invited some prominent guests and interviewees to discuss their views as whether the USA still remains as the greatest country on earth when the world is undergoing a profound and complicated transformation.

The US economy: A lost decade?

First the bust, then the terrorist attacks on the World Trade Center, the Pentagon and other targets. The United States economy started the decade shaken to the core, but it responded with an astounding economic boom.
Ten years on, however, the US economy is in dire straits again, and most people are poorer than they were before. How did it happen?
(The short clip will appear after the advertisement)


The decline of the American empire

As the world is undergoing a profound transformation, what role will the US play in a post-American century?
Last Modified: 02 Jan 2012 15:36  Source: Aljazeera English

The US has the world's biggest economy, the most influential culture, and the most potent military machine, with a budget that equals that of all other nations combined. It is the only power with a global project defended and supported by more aircraft carriers, Fortune 500 companies, and more successful media-tainment conglomerates than any other.
But the last decade has been problematic for the world's only superpower.
America's post-Cold War optimism has given way to pessimism, forecasting a declining power and more crucially, the end of "the American era".
The rise of new regional and global powers, coupled with Washington's recent war fiascos and financial crisis have worsened the outlook for the future of the US.
Countless books have been written prophesying the end with titles like: Suicide of a Superpower; The Empire Has No Clothes; Taming American Power; Nemesis: the Last Days of the American Republic; Colossus: The Rise and Fall of the American Empire; and Selling out A Superpower.
So, is all this talk of the US decline premature? And if not, what role will the US play in a post-US century?
Empire finds out.


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