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U.S. Economy Almost Dies "The economy nearly sputtered out at the end of the year and probably is faring even worse now amid continuing housing, credit and financial woes. The Commerce Department reported Thursday that the gross domestic product, or GDP, increased at a feeble 0.6 percent annual rate from October through December. The reading, unchanged from a previous estimate a month ago, provided stark evidence of just how much the economy has weakened. In the previous three months, the economy had a sizzling 4.9 percent growth rate." The economy in the United States is in deep trouble. It is dwindling to almost negative territory and all those interest rate cuts made by the federal reserve are not helping. Hyper-inflation is a very real possibility and I think residents should brace themselves for a recession. All this is due to bad financial planning on behalf of the banks. They dished out loans to everyone and anyone when the going was good, now it is coming back to bite them in the ass. They needed to take responsibility long before the collapse of the markets. Only now are they realizing the problem. But it's too late now.

Contributed by technologyslice on March 27, 2008, at 11:23 PM UTC.

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