The global economy is still in a virtual free-fall. In the United States, Americans continue to experience an extremely tough job market. In addition, the U.S. housing market continues to look extremely bleak as foreclosures are approaching record numbers and home construction is virtually nonexistent.
Are we, in fact, at the front door of the biggest economic collapse ever? The companies that were deemed “too big to fail” and bailed out by the U.S. government during the 2008 financial meltdown, have since made record profits at the expense of American citizens.
Meanwhile, people in the United States and other countries, where similar scenarios are currently being played out, are facing austerity measures like never before.
What’s your take on this developing economic time bomb? We’d like to read your comments and suggestions regarding the state of the world’s economy.