Superiority complex...

Looking at what is happening to the US economy nowadays, made me wonder, whether we really should send our students to study economy, business or finance there. Or whether whatever theories that they had proven are really practiceable. With the biggest Ponzi scheme on earth has just been uncanned and the interest rate is almost zero, one more billion dollars bad news, can push them off the cliff, for good! They already raised 850bil for rescuing the banks and no more rate cuts can be expected, looks like they are cornering themselves this time and nobody knows what kind of mess that they are going to uncan next.

They still cant imagine the magnitude of losses from the sub prime derivatives, auto makers failure, housing market collapse, Ponzi failure, oil price trading losses etc. Recovery is not going to be
soon. DJ could rebound but, everybody knows the economy has collapsed, who would be buying the idea? Another bubble? Perhaps in 4 years time, I believe...

Btw, out of all the thing, he only threw his shoes???