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Do you think the U. S. economy will ever rebound?
And do you think the nations of the world, especially China and Saudi Arabia, will abandon the dollar as their reserve currency? Will the dollar cease to be the monetary unit of trade in the world? If so what does that portend for the U. S?
9 Answers
- Anonymous10 years agoFavorite Answer
10 yrs.of economic turmoil tells me either the politicians don't know how to fix it or they fear for their job by endorsing what it will take. Either way, we are painfully mismanaged. They caused the turmoil. There's no relief in sight. We need enough 3rd party representation in Congress to keep the big 2 honest. The current Congress is all about obstruction so nothing gets done ... try to make one look good by making some one else fail.
If America doesn't do something about the spiraling deficit/debt, eventually it will lose it's world currency status and gas prices will rise considerably (among other detrimental elements).
- AdelineLv 610 years ago
I think the USA will rebound, but it will take a long time. I do not think the US will ever be the extremely prosperous country it was when it was the world leader in manufacturing. I think the dollar will remain, but other currencies will be just as valued (maybe even more so) as the dollar.
- GenegeeLv 710 years ago
I think that the dollar will not be replaced but the value of it will go down. Our problem is that congress has an addiction problem for spending money so that they can get reelected and taking legal bribes from the lobbyist which pushes programs that favor the companies they represent. Until drastic changes occur nothing will change.
- LewLv 510 years ago
It wouldn't be the end of the world. SDRs could be used as a less volatile alternative to the dollar because they can be converted into whatever currency a borrower requires.
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- 10 years ago
No . . . And yes when every1 changes the currency . . . Usa will become worse than a 3rd world country in a civil war
Source(s): Economics - happee1Lv 610 years ago
yes we will recover..we are a strong nation and we have something a lot of other nations don't ..freedom to choose who will govern us.
sometimes we make poor choices and other times we do better..
the main reason..i think..we are in trouble is to many people spent way above their means and it just caught up to them..
once one thing starts to drop ,and that is usually construction, then everything else follows suit..
but rest assured we AMERICANS are strong and resilient ...we shall overcome this..but it will not be a quick fix..
until we stop spending money we don't have ...(government are you listening)..we won't be getting on our feet..remember there is nothing for free in the end somebody has to pay for it..
- Anonymous10 years ago
ever hear of AC/DC music TOM in OHIO? WHY DONT YOU ALL GET OUT OF YAHOO ANSWERS FOREVER AND TURN THE HORRIBLE WORLD OVER TO GOD AND LEAVE IT THERE IF WE ALL STILL CAN BELIEVE IN GOD.... is it storming up there TOM? answer NO read the HOLY BIBLE Tom .......... screw politics....... have a good day Tom ... the other seniors are attacking me today ... they can go to hell......
- Anonymous10 years ago
I believe the USA will bounce back and will be strong again, as long as they keep their eyes on the bankers.
- 10 years ago
I do believe that the US economy will rebound, but there will be a major war in the offing, something our generation has not yet seen the likes of, its inevitable.