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Sat, Mar 22nd - 9:01AM

America in worst recession in 40 years
FIVE REASONS TO WORRY:

1. The collapse of Bear Stearns, America's 5th largest bank and investment firm, has collapsed and been bought out by J.P.Morgan Chase & Co. (America's 3rd largest). The global banking and financial sector have seen their assets dry up in the sub-prime/credit crisis and the economy is collapsing.

2. The American dollar has plunged to new lows and is slowly becoming worthless.

3. The housing collapse in the USA is fueling widespread unemployment as the sub-prime mortgage crisis effects other sectors such as construction, automotive, manufacturing and others.

4. Foreign investors are "decoupling" themselves from the plunging US economy and investing in superpowers China, India and the EU.

5. American stores have been flooded with cheap Chinese goods that are pushing American manufacturers out of business (or forcing them to move to Asia). The squeeze between cheap goods from overseas and the collapsed housing sector places American manufacturers between a rock and a hard place and makes it very difficult for them to stay profitable.

And these don't even take into account America's two wars to pay for (which means higher taxes/national debt in the future), America's 8 trillion national debt and oil prices over a hundred dollars per barrel.

Want more reasons to worry? Read America's Economic Meltdown.


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