economics teachers teach because they cannot do. On this point you can slap your teacher for being a panic ridden lemming. I'd pay more attention to the course material and less on the instructor's misguided rhetoric.
qft. some of the biggest dickheads i have ever known were / are teachers.
(i liked how bushgirl promoted them to the lofty rank of professor tho
but then i was happy to give this anonymous lecturer the benefit of the doubt. you mad bovine!
Already exports are increasing because of the weakening dollar.
such as record lows against the EURO? welcome the AMERO!
imports will begin to decrease as locally produced products get cheaper and cheaper.
meaning local producers become unable to salary their work force....... uh oh!
Focus more on the legitimate hard numbers and less on the media fueled panic. The media is going to report whatever makes them the most money. As usual, fear sells ad space and nothing freaks people out more than the thought that they are going to lose their house and their job by the next commercial break.
holy moly! you should see the front pages of the morning and evening rags over here in london! 'US crisis threaten global economies' City of London shaken by Stearn' 'Chaos on Wall Street'
etc and so it goes on forever and ever.....
Yes people are going to lose their homes. People who jumped into a mortgage they knew they couldn't afford paying off intrest only loans. They're about to learn a very expensive lesson. Some investment companies will go under yes. They're also learning a very expensive lesson about what happens when you cook the books to create wealth out of bad debt. Companies that atually produce real goods will be fine.
real goods that people cannot afford to buy coz they have defaulted on all their overwhelming loans...?
house of cards scenario.
not to mention the bidnis entities underwritten by investment companies who have also gone belly up.