That's why I say LOCAL, LOCAL, LOCAL, the more LOCAL, the better!
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Economic trouble has spread far beyond the United States to major countries in Europe and Asia, threatening American businesses with the loss of foreign sales and investment that have become increasingly vital to their sustenance.
Only a few months ago, some economists still offered hope that robust expansion could continue in much of the world even as the United States slowed. Foreign investment was expected to keep replenishing American banks still bleeding from their disastrous bets on real estate and to provide money for companies looking to expand. Overseas demand for American goods and services was supposed to continue compensating for waning demand in the States.
Now, high energy prices, financial systems crippled by fear, and the decline of trading partners have combined to choke growth in many major economies. All this means that economic troubles in the United States could intensify into the presidential election season and beyond.
It could also make it harder for financial companies like Lehman Brothers — which has been seeking fresh investment in South Korea — and the government-backed mortgage giants Fannie Mae and Freddie Mac to attract much-needed capital from abroad.
As the United States and many other large economies slip in unison, the reality of integrated markets is being underscored: just as globalization spreads prosperity — linking cotton farmers in Texas to textile mills in China — the same forces spread hurt when times go bad.
That is why PEOPLE DON'T LIKE the GLOBAL GOVERNMENT GIG and the stuff has to be rammed down our throats!!!!
The transformation of foreign shores from a refuge for American business into a source of anxiety is a testament to how swiftly trouble can proliferate in the global economy. India’s customer service call centers — heavily dependent on American demand — are now girding for cuts.
That can't be good news for us!
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