Recession in the rest of the developed world?

[Ski_Banker]

Again, Americans only please.

If you think there will be a recession for the rest of the developed world overall (ie UK & W. Europe, Japan, Aus) post up...

 

[nsxotic911]

Again, Americans only please.

If you think there will be a recession for the rest of the developed world overall (ie UK & W. Europe, Japan, Aus) post up...

Where's the one that says "will be in a harder recession than the US"?

 

[Ski_Banker]

Where's the one that says "will be in a harder recession than the US"?

I hear you but due to the polling constraints, getting that specific just doesn't make sense.

But yes, in terms of order of magnitude, the UK, W. Europe and China will suffer worse than the U.S. each for their own reasons. Despite all the doom and gloom, the States does have the most flexible and entrepreneurial economy on the planet - by a longshot - and it will rebound long before the other developed economies.

 

[sahtt]

Much of Europe will lose more money proportionally than the U.S. will by the time this downturn is finished.

Can't say for the developing world. The expansion of the domestic markets is real in many places. I've been traveling and meeting with many Chinese business men from industrial hydraulics, oil rigs, subway infrastructure, cement technology, etc. Times are good for these guys and the banks still have the ability to get them loans. How long it will last I'm not sure. This current business environment extends all over the country.

Most of the U.S.'s real financial issues don't involve countrywide financial IMO, it's more along the line of no education in personal finance and all the things that stem from that; inadequate retirement, credit card overuse, heavy debt, low savings, and absurdly poor political choices like allowing SS and medicare to get where they are.

 

[jond]

I expect they'll feel something. Just based on the idea that we're all a lot more interconnected than we were.
I think a lot of countries have bought our bad mortgages packaged as safe bonds or whatever. And I think several countries had the same housing boom.