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Is the long predicted US economic crash here or just another bump in the road?

http://www.foxbusiness.com/article/world-markets-tumble-economy-fears_443535_49.html TOKYO -- Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession. U.S. markets were closed for Martin Luther King Jr. Day, but the downbeat mood from last week's market declines there circled through Europe, Asia and Canada. The U.K. benchmark FTSE-100 dropped 4.7% to 5,625.20; France's CAC-40 Index plunged 5.9% to 4,793.39, while Germany's blue-chip DAX 30 slumped 6.74% to 6,821.42. In Asia, India's benchmark stock index tumbled 7.4%, while Hong Kong's blue-chip Hang Seng index plummeted 5.5% to 23,818.86, its biggest percentage drop since the Sept. 11, 2001, terror attacks. Canadian stocks fell as well, with the S&P/TSX composite index on the Toronto Stock Exchange down 4.8%. In Brazil, stocks plunged 6.9% on the main index of Sao Paulo's Bovespa exchange. http://ca.news.yahoo.com/s/reuters/business_markets_canada_stocks_col TORONTO (Reuters) - The Toronto Stock Exchange's main index fell for a fifth straight session on Monday, diving more than 4 percent in its biggest intraday drop in seven years, amid concern about the health of the U.S. economy. http://cnews.canoe.ca/CNEWS/Crime/2007/12/21/4735871-sun.html By KATHLEEN HARRIS, NATIONAL BUREAU OTTAWA -- Prime Minister Stephen Harper is warning Canadians to brace for fiscal belt-tightening as a looming economic collapse in the U.S. threatens to make waves north of the border. http://www.azcentral.com/arizonarepublic/news/articles/0111fbi-phonebills0111.html Jan. 11, 2008 12:00 AM WASHINGTON - Telephone companies have cut off FBI wiretaps used to eavesdrop on suspected criminals because of the bureau's repeated failures to pay phone bills on time. A Justice Department audit released Thursday blamed the lost connections on the FBI's lax oversight of money used in undercover investigations. In one office alone, unpaid costs for wiretaps from one phone company totaled $66,000. In at least one case, a wiretap used in a Foreign Intelligence Surveillance Act investigation "was halted due to untimely payment," the audit found. FISA wiretaps are used in the government's most sensitive and secretive criminal and intelligence investigations, and allow eavesdropping on suspected terrorists or spies

Public Comments

  1. Temporary most likely.
  2. A recession has already started but people don't really want to admit it. It will probably last for a year and a half. The value of the dollar has gone down in comparison to the Canadian and the Euro. Sucks for us Americans. No worries though; after we finally secure that Iraqi oil we've had our eyes on, things will start to get better.
  3. One would surmise that it has arrived.
  4. coudn't tell yeah but possibly
  5. Crawl out from under that rock and have a look around.
  6. I've been researching this since the end of last year since I found a page called coming stockmarket crash. I'm not from the US but Australia. I watch with interest what is happening in the US. It seems like its expected to be as bad as the 1930s. I'm sorry to say this.
  7. Any fraud must come to an end. Eventually people get smart and make other arrangements. Ron Paul is calling attention to the fraud perpetrated upon the American people in 1913. It's time to repeal the Federal Reserve Act and HR192. .
  8. It will last a while. I am afraid the Democratic congress and Republican President will not push politics aside to try and do what is best for the country.
  9. We went over a cliff, could take a while till we hit rock bottom
  10. We're slowly falling off of the precipice. The economy has been in a steep decline for the last six months or better. With the credit crisis, inflation at a twenty-six year high, A 9.2% drop in the Dow since the beginning of the year. With the worst first of the year opening on Wall Street since 1936, we're in for a long fall. It is actually supposed to make the 30's look like a walk in the park.
  11. no it wont crash,but money mite get tighter,of course with gasoline and consumer products being priced gouged doesnt help.of course the new globalization requires the money to be changed@
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