US's Debt Tragedy!

This is the issue of highest concern to everyone at the moment, a moment of panic, would really love to read your insight on this issue!

@Chinmoy, I think the article is still in queue waiting to be reviewed so unable to read it as of now! :(

@Kalyani

This article was written more than a year back and now the link is working!

Yes, it is now! Thanks!

You have provided a good insight into this crisis, I understand this issue better now!

Thank you Mr. Mukherji for pointing out this topic.But I think India will not affected for this.

@Ram Prosad

India's economy would surely be affected as India is one of those of countries having bought these treasury bonds. Similarly our exports to that country is also substantial.Although dollar's fall is likely to boost up the earning of some exporters but long term fallout of a prolonged economic crisis in one of the largest economies of the world on Indian economy would be pretty worrying!

Really the American economy is facing a tragedy.It is now realised that it was only a baloon.

It's a great lesson for nations which try to live beyond the means!

It is really shocking to know the news of a highly developed country like U.S.

Abid wrote:[quote]Really the American economy is facing a tragedy.It is now realised that it was only a baloon. [/quote]

I like the metaphor used here. Yeah, it was a huge balloon, filled up by loans taken from countries like China and Singapore! How the balloon has burst!

It is really very serious problem and all the countries should learn the lesson from it. The article elobrates the problem and well presented by Chinmoy. Even people who are not interested in known the latest economic trends will have to know this fact.