Right now, the hot topic about which most people are discussing is about the present scenario in US. You may be wondering about which one am i talking about? Is it about the financial crisis or about the US presidential elections that are going to be held in 1 month from now ? Actually it a fusion of both. Confused? Read on. . .
Since the end of primary elections in US, both the presidential nominees did a lot of campaigning to articulate their stand on various policies and what would they do for the betterment of citizens once they assume the office. Of course there were war of words as well. There were lot of promises too which require a lot of spending. But now the financial scene in the US has changed. And so are the speeches they are giving of late. No more promises are being made. I wonder if they can fulfill what all they promised till now. There's a huge budget deficit in the US economy and there's not much money left to spend for the succeeding president.
Lehman bro's has filed a bankruptcy and Merrill Lynch was sold out to Bank of America and the situation of American International Group(AIG) is also somewhat similar. The stock markets fell and the Dow Jones has plummeted down the 10,000 barrier. There were losses all over the world with various economies linked tot the US economy. The government, last week, took a decision to provide a $700bn bail out package to the AIG to somewhat mitigate the effect. But the situation has not improved yet and the analysts believe that this will become more worse in the days to come. The present condition is being regarded as the worst ever since the Great Depression occured during 1930's.
So, be it either Obama or McCain, one would be in a very tough position from the very day they swear in. The road ahead is not a bed of roses but full of thorns. So both of you, watch out !!!
Since the end of primary elections in US, both the presidential nominees did a lot of campaigning to articulate their stand on various policies and what would they do for the betterment of citizens once they assume the office. Of course there were war of words as well. There were lot of promises too which require a lot of spending. But now the financial scene in the US has changed. And so are the speeches they are giving of late. No more promises are being made. I wonder if they can fulfill what all they promised till now. There's a huge budget deficit in the US economy and there's not much money left to spend for the succeeding president.
Lehman bro's has filed a bankruptcy and Merrill Lynch was sold out to Bank of America and the situation of American International Group(AIG) is also somewhat similar. The stock markets fell and the Dow Jones has plummeted down the 10,000 barrier. There were losses all over the world with various economies linked tot the US economy. The government, last week, took a decision to provide a $700bn bail out package to the AIG to somewhat mitigate the effect. But the situation has not improved yet and the analysts believe that this will become more worse in the days to come. The present condition is being regarded as the worst ever since the Great Depression occured during 1930's.
So, be it either Obama or McCain, one would be in a very tough position from the very day they swear in. The road ahead is not a bed of roses but full of thorns. So both of you, watch out !!!
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