Welcome To The Third World, Baby

That’s one helluva Bush Boom you got yourself there, America.

A slowdown in the U.S. economy will likely drag on global growth next year, economists predict, but Asia and Europe are expected to remain fairly resilient amid signs of healthy consumer demand.

Even as a cooling U.S. housing market weakens Americans’ appetites for foreign-made electronics, clothing and other exports, the swelling ranks of middle-class consumers in China, India and the rest of emerging Asia are seen picking up the slack, experts say.

3 thoughts on “Welcome To The Third World, Baby

  1. You know this really just chaps my hide. I’m so glad to read Krugman in the rolling stone mag the other day. They say the economy is great. For who? Rich people. Stock holders who DIDn’T get screwed the last time the stock crashed. You know what always makes me laugh? Talking about the Dow and Nasdaq as if they were static indexes. When the Dow or Nasdaq has a stock in their index that tanks? They yank it! When it does well they don’t yank it. So if you went back and looked at the Dow or Nasdaq with stocks that were removed? What happens to the index?
    Say you have 12 stocks. Two are great and they lift up the index. Two are terrible and they drag it down for awhile too far (or go away) they dump it and put in a new stock. If we looked at the Dow and Nasdeq with all the dead stocks that are zero in it what would the index be like?
    I know that this is heretical and that people know this, but I really think that the way they talk about the Dow and the Nasdaq as if it is the same set of stocks from 1999 till now isn’t real.

  2. gee, middle class in America being squeezed, and presumably shrinking, and the American economy sowing.
    middle class in Asia growing by leaps and bounds, and their economies booming?
    what a co-ink-ee-dink.

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