America is it still a financial powerhouse?
362994
Hi!\nAmerica world's biggest economy today would continue to be big for many years. However, what may be particularly interesting that it may not remain there forever.\nLets look at the BRICs report, published by Goldman Sachs... http://www.gs.com/insight/research/reports/99.pdf\nI guess that kind of gives you an insight of the economies of the future; wherein China and India look promising. China, as a matter of fact is said to displace US in less than 50 years. \nA Giant like the US cannot become a part of a fleet of mice... So the way I look at it; US would continue to be a (mark the difference, "a" and not "the") dominating economy; but would have some good company of friends coming in from Asia!\nHope it makes sense to ya! :)\n\nEurope and Japan don't look very promising in long term... Their populations are aging fast which isn't a great sign for the next many decades.
989264
I was not around then but definitely studied history and this comes to mind:\n\nPresident H. Hoover, 1932 - government loans to banks.  End of November 1,493 banks have suspended operations.  \n\nIt already started crashing from the America's economy in the 1920's to a sudden end in Oct 1929 - before the Wall Street Crash.   Then America started facing economical crisis that even impacted other coutries including Germany, a country that built up their economy on American loans.  Then the wealth from the 20's was dissapearing fast.\n\nThe rich lost money on Wall Street crash. The rest of Americans could not afford to lose any money then. Afterwards, noone had money to invest nor to buy comsumer products. \n\nThere was not shopping of any kind, and stores, factories, farmers, restaurants, industries, had no reason to employ people who were making products that were not being sold. \n\nUnemployment reigned. The depression took a while to get going but by the winter of 1932, it reached his top.\n\nAt the time there where: 12 million people out of work, 12,000 people being made unemployed every day, 20,000 companies had gone bankrupt, 1616 banks had gone bankrupt, 1 farmer in 20 evicted, and sadly, 23,000 people committed suicide in one year - the highest ever in the history of the US.\n\nIn addition: we had many social problem which, in spite of being such rich country we continue to have.  They were and still are:\n\nUnemployment and poverty \nBreakdown of families\nSoaring high school dropout rates (2 to 4 million)\nHomelessness\nOrganized protests\n\nAt the time, the American people  laid the blame on:\n"Three B's" then responsible for the Wall Street Crash and the Depression:\n\nThe "Bankers"\nThe "Brokers"\nThe "Businessmen"\n\nI am not sure this answer your question but that what I thought of as soon as I saw your date onthe screen!\n\nBye....
918521
Sadly, yes....\n\nLiberty for... the rich, the powerful and only if you were born an American.
547853
Nope!\n\nUSA has a free economy.  There is a Federal Reserve Board with 13 presidents and a Chairman (the chairman used to be Alan Greenspan.  Now it is Bernackey).  It is their job to manipulate the money supply.  They raise and lower interest rates.  This is called Monetary policy. The president of the U.S. and Congress raise and lower taxes and this is called Fiscal policy. Together Monetary policy and fiscal policy get the economy moving faster or slower.  If taxes are high and interest rates are high, not as many people can afford to buy houses or borrow money and this slows economy down.  Bernacky would in this case, cut interest rates and then a house payment would be $500 not $575 for example.  More people could afford smaller house payment so they would buy house causing demand for more houses and demand for more wood and concrete...\n\nThere is not enough Gold in the world to back up all the dollars and euroes.  NYC's Trash Department has a budget bigger than some small countries.  USA's economy is HUGE.  China has bought billions of our dollars when they buy our U.S. Treasury bonds.  When Bernacky raises interest rates, he is also raising the amount of interest USA pays on U.S. Treasury bills.
362773
America's economy is a house of cards waiting to fall. if HALF the foreign investers cashed in their Treasury notes, the country would  go belly up. We are the largest debtor nation in the world, and lately foreigners have begun curtailing their buying of more Treasury notes as a result.\nI'll believe this current administration about their claims of a robust economy the day AFTER weapons of mass destruction are found in Iraq! (in Saddam's pocket, perhaps?)
160084
It used to. But the United states is on a non-fiat monetary system. The gold reserve is meaningless and is not backing the money. The government is telling you that it is worth something and can be used for payments and debts.
974948
I think that time is at least 30 years off.  I think we are in danger though because they hold so much of our debt.  They have some important controls over us, that they don't yet dare use. \n\nIn our country freedom came before a strong economy.  My hope is that in order for them to become powerful, they will need to embrace freedom.  \n\nWe do need to keep an eye on them though.
672254
It is not.  If not for the U.S., the world would be in the economic toilet tank.
306842
For quite a long time. However, China is still behind. It continues to progress. The economy is okay. I would not exactly say that it is fabulous because there are still many many homeless and starving people. America is still leading. However America does feel threatened by China. China is improving at a very fast rate. However, there are still large areas and things that have yet to be improved.
268432
I have to disagree with the guy above, about the 3 Trillion it is 8 Trillion and President Clinton balanced the budget in the late 90's with reserves. This debt has come from this administration solely, and they don't care. Why would a millionaire care about $2.50- $5.00 at the pump when they are making more money off of the stock options? The answer is #C and #D and the lenders are part of the problem for America they are the lobbyists that elected this administration.
846351
In terms of economics for the consumer yes it is. \n\nWhy you are asking this I dont know though
1174233
Bank of America is a revolving door.  Citigroup is slightly less so.  Wachovia has a good culture since the merger.  Many regional banks have nice, growing cultures, too (i.e. BB&T).  The big Wall-Street firms (investment banks) are hard places to rise from the lower levels compared to the MBA's (Goldman, Morgan, Deutsche, etc.)
652302
iT'S STILL WORTH IT IN LOTS OF PLACES.\n\njOHN
224259
What economy are you referring to? If it's the US, it's already recovering north of a 5% for the first quarter of 2006.
689247
It still exist today.
664643
You could argue that large American conglomerates  and their strong position within the global economy operate in ways that are economically aggressive. But in terms of violent situations, look at the secret service funding and or training of Al Qaeda agents, South American dictatorships, the military actions in Vietnam, the Iran contra affairs, and obviously Iraq.
932030
Not badly, especially compared with the east and west coasts. There has been a downturn, but it's really been slight, partially because the market was not overvalued, and also because the state has enjoyed record economic growth and employment.