http://www.youtube.com/watch?v=cziN3gt-hic
The genius mind of Ron Paul which could predict this economic downturn way before in time. Unfortunately it's too late, if this economic collapse had happen 6 months ago, while Ron Paul was still vying for the Republican presidential race, he would have not only won the nomination but could have won the elections as well. He was considered a lunatic a strict libertarian and ridiculed for his warnings.
For the US economy which is a consumer based economy because of huge differences in production and consumption percentages : approx 75 percent consumption to merely 25 pc production. Things look bleak in the future. I guess the need of the hour, with looking recession is SAVE. Save in every possible way. This exbortiant way of living solely on credit fuelled by readily available loans has caused this doom.
The 750 billion dollar bailout is nothing but printing that much more money by the Federal Reserve. This eventually will inflate the economy akin to situation in Zimbabwe (not to that extent still). This inflation will make the commodities and services more expensive ,and eat into our savings. And if we dont change our extravagant heedless ways then only God can save us lol :)
The plausible solution is to save: which would drive the prices lower make things more affordable and boost the economy. Not to forget, invest in building factories which would create jobs. It's an investment in Value and not in luxury (homes).
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