The opening days of 2008 bring news of economic records broken for the first time. Oil topped $100 dollars a barrel and gold went to $860 before settling back to $856 at the close of business Jan 2, 2008.
Is the United States at the brink of a steep plunge, or are we already halfway down and close to an upturn? This news for most people is like facing the prospect of sliding down a mile long razor into a pool of alcohol. In reality, Americans will have to cut back, and will probably save more. Like all things in life the lessons learned from pitfalls and losses will help inspire the human spirit to find a way out of this trouble spot.
Financial Times online edition, has a thoughtful article on whether the United States and due to our economic clout, most of the world are on the brink, or will skirt along the edge, slowly avoiding the plunge.http://www.ft.com/cms/s/0/8fc8a006-b969-11dc-bb66-0000779fd2ac.html