Written by: Daniel Jennings
NEW YORK — Despite all the optimism generated by the election and recent stock market rally, there remain many signs the U.S. economy is in big trouble.
In fact, there are several good reasons to believe that a downturn or even a major economic crisis is right around the corner. Here are nine reasons why the United States might be on the verge of a major economic crisis.
1. The strong U.S. dollar. It may be hard to believe, but a strong dollar can create major problems for the U.S. economy. The dollar is at an eight-year high against the Chinese yuan (six yuan to one dollar), which makes Chinese goods cheaper on the world market than American. This increases the price of U.S. exports, such as agricultural goods. Some U.S. manufacturers may have to cut production and eliminate jobs because of lower exports. Another effect is…
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Author: Lisa the Infidel
I am an #Infidel - born and bred North Carolina. View all posts by Lisa the Infidel