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What is wrong with the U.S. economy?

Can someone explain why it is bad? I realized that it is really bad after I heard that 13 banks went out of business. How is the economy affecting people? I would not know since I still lie with my parents. How are i****************s bad for the economy? What started this crisis? Exactly why do gas prices rise? If the U.S. dollar is losing its value, why not just "make" more dollars to make up for the loss? Sorry for all the questions. I was just curious.

Asked By: someone1111111111 - 9/27/2008
Best Answer - Chosen by Asker
The mortgage/banking crisis is hurting the economy in two ways. First, mortgage backed securities have been discovered to be totally worthless, which basically destroys the portfolios of people who invested in them. All their money is pretty much gone. Secondly, banks are experiencing massive liquidity issues... More
Answered By: His Divine Shadow - 9/27/2008
Additional Answers (6)
Investors are running away from the US and transferring to China.
Answered By: FRAGINAL-NOYPI - 9/27/2008
 
The real answer to all of your questions is GREED. There are to many people out only for money and the average person has to pay them. The drop of home prices started a lot of it since the banks charged to high of interest on loans.
Answered By: insane draggin - 9/27/2008
 
superpowers come and go. communists printed more money when they needed it. it didnt work out.
Answered By: female - 9/27/2008
 
I haven't noticed anything that matters to me on a personal level; my groceries still cost the same, my rent is constant, train fare is the same, nothing much that matters to me is different.
Answered By: Christopher K - 9/27/2008
 
Nafta shipped all of our jobs out of the country the unemployment rates sky rocketed people were out of work and not paying taxes , we opened our boarders to many illegals and started feeding them and giving them free health care because their babies were citizens . Still not enough people paying into taxes inflation... More
Answered By: Kitten,Doc - 9/27/2008
 
Where the economy ran of track is the unfair trade treaties of the past years such as nafta,which has caused an imbalance of trade and our nation going in huge debt...that plus the fact that the fractional reserve banking system was doomed from the get-go and has now put the economy in a downward plunge that may not be... More
Answered By: doubleolly - 9/27/2008
 
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