Thursday, October 1, 2009

U.S. and G-20 Propositions

It was agreed during the G-20 conference that the United States needs to put a halt on how much they are relying on capital from other countries. With trillions of dollars in loans, lenders are starting to put in their share on how the United States goes about spending its money. Now, with the rise of the G-20 it has become pretty well understood that the United States is no longer going to have a dictatoral-type rule, not when we're spending everyone elses money.

As for the recovery of the United States' economy Former Federal Reserve chairman Paul Volcker believes that it will be slow due to high unemployment rates and dependency on other countries, especially as consumers continue to default on credit cards and other loans.

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