http://www.bbc.co.uk/news/business-18157781
The global economy does not seem to be getting any better. The Eurozone seems to be the biggest threat to the future global outlook. The 17 countries that use the Euro will shrink 0.1% before rebounding to a 0.9% by next year. By that time, it is projected that the US economy will expan 2.4% this year, and 2.6% in 2013. Failure to act against the Euro could lead to worsening the European crisis and serious consequences to the global economy. It is projected that the UK economy will only grow 0.5% this year, and 1.9% in 2013. The jobless rate is at the highest it has ever been at 10.9% since 1999, when the Euro was formed.
Through out the quarter, I learned a lot about not only our economy, but the world economy. One thing I learned is that the US is in a serious position in our economy. Many places are going into debt and no one wants to buy them out. Another thing I learned is that the world economy is not any better. Many places are living on just 2 dollars a day in their life, such as many third world countries. The last significant thing I learned about the economy is that there is not enough to go around. It seems like everywhere you look countries are going into debt very fast, and soon many places, just like Grease will go bankrupt.
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