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Published by on Monday, June 18, 2012 at 3:24:00 PM

American Recession and World Economy

American Recession and World EconomyThe world's economy is in a tailspin. Everywhere on the globe you look there are economic problems. Countries large and small are struggling to feed, clothe and shelter large segments of their populations. Countries' entire financial systems are on the verge of collapse. Currency values are fluctuating wildly. People are rising up and demanding change, especially better living and working conditions. Most of the world seems to be in economic turmoil and bordering on chaos. In the United States we are in the midst of the Great Recession, the toughest economic times since the Great Depression of the 1930’s. Economically, America has a cold and the rest of the world is dying of pneumonia.

Did the United States' recession cause the global economic crisis by giving unqualified people easy access to a home, business and or auto loan or did many factors come into play to cause this international economic meltdown? The United States of America has a large, vibrant diverse economy. The American consumer is responsible for the wealth of many nations because of the large amount of consumer goods and services they purchase. The American family which fills the tank of their SUV twice a week enables others to live like kings. So it is reasonable to surmise if the American consumer stops spending markets around the world will feel the impact.

Few countries base their entire economy on a single source. A basic understanding of the economic underpinnings necessary for successful nation building demands a plan for several sources of revenue to support the nation. This failure to properly structure their economies has played a role in the global economic downturn. Some countries are plagued by the 'filthy rich, abject poor' dichotomy wherein the country has wealth but it is based in the hands of a corrupt few while the masses endure poverty. This too has played a role in the world's current economic crisis. Proper land management is essential for a nation's sustenance and growth. In some countries bad land management practices have led to poor yields. This has led to massive food production problems and hunger. This was also a factor in the economic troubles the world is suffering.

The world is more connect now than ever before. The actions taken in one country can definitely have an impact on people living in another country. Still each country must work to improve the economics and with it the quality of life for its citizens. Ideally all nations would work together to ensure no one is left without food clothing and shelter. But did someone getting an auto loan in the United States cause the collapse of the Greek economy or most of the problems countries around the world are having? No is the simple answer. But global economics is not always simple, so yes America bears some of the blame.

Kathleen Hubert is a blogger who writes on a variety of different sites. Check out more of her work at
Published by IzajAhmed Shaikh.
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I am, Mr. IzajAhmed Shaikh, Computer Professional, and Pro. Blogger, who belongs to Shahabad, Karnataka India. My basic Qualifications are B.Sc., and M.C.M. done from University of Pune, formerly known as, Poona University, also like to write articles based on my personal experiences.