In recent months, Bailout is the biggest word of the year (surveyed). What is wrong? What else will go wrong?
The US$800 billion rescue package is not going to be easy on the plate. It is the current US Administration's quick escape till the Obama Administration takes over and clear the shit done by his predecessors.
The latest bailout facing problem is the rescue of Automakers. The current Administration is only interested to bailout GM till March 2009 and said that it's up to Obama's ability to rescue the economy. Creating a mess and letting others clear it is so common from the giant.
What is wrong with the American economy and how more wrong can they get? Their economy is near bankrupcy. Their world debt is in excess of a TRILLION dollars. If they can't get out of this mess, their economy will go into bankrupcy and their Developed Nation status will be thrown out and becomes a Undeveloped Nation. More squatters will roam the streets, more in food ration queues, more tent homes, lesser cars on the road, lesser jobs available, etc.
The US may be the World's No 1 economy currently, but not for long. With a broke economy, come 2010, the retiring Baby Boomers will not be able to get their retirement pension, 401K. That will attribute to more problem for the scrapegoat President Obama. He is taking over a sinking ship. If he fails to salvage, he gets more blames, if he salvaged it, he will go down history as one of the best President ever (no prize for guessing who is the worst).
If Middle-East and China doesn't come rescue US, brace up for a rough ride all thanks to Uncle Sam.
Year 2009 will be worst than 2008. How 2009 performs can affect if the global economy will drop further into recession or even a onset of the next Great Depression. If another Great Depression occurs, it will be many times worst than that of 1929.
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