11-14-2008, 05:49 AM
The current financial crisis around the world exposed the current financial system to its core. The super of the day United States saw crumbling markets and closing businesses in the month of October. Would the bailout plan worth more than $700 Billion work? The current scenario is an eye opener for the people who are ready to understand the worth of a Paper Based Economy.The current economic meltdown which started off in the United States has overtaken and affected the entire world very adversely. Being compared to the economic meltdowns of 1929 and the 1987, this current economic shuddering reveals the true nature of the Paper based currency and its worthlessness. We have to admit that the current economic collapse was not complete surprise; it had shown its symptoms if we analyze the US economy in a year prior to this major collapse. To look deeper into this issue we need to go back to the American “Real Estate Industry” collapse because in my personal opinion that is the turning point which was clearly pointing towards a total economical melt down which eventually engulfed entire global economic system.
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Read complete from the Original source
http://www.risethemag.com/viewarticles.aspx?aid=63