Casey Berry
2/26/09
9:00 am.

A baffling global economy

According to Robert Samuelson we’ve been having the wrong discussion about globalization for many years. We’ve spent our time arguing over out workers and other countries workers and our exports and imports. He said that by the large the answer to all these questions is yes! Samuelson said that the real question should be “Is an increasingly interconnected world economy basically stable? Or does it generate periodic crises that harm everyone and spawn international conflict?” He said that there’s a huge gap between the U.S. economy’s “actual performance” and “mass psychology”. A global economy that it disorganized could reverse our advances said Samuelson. He thinks that we’re starting to make some progress but then we start to get disorganized and we totally reverse that. In this article it states that foreigners own more than $1 trillion of our debt. He said that foreigners have bought $5.7 trillion of our U.S. stock. Our experts are very confused about our economy. They say “countries are growing economically more interdependent and politically more nationalistic.” Samuelson said that there’s no possible way to reverse globalization than any other time in our history. He also said that so much can go wrong and we have no guaranteed future.
In my opinion I am very worried about my future. I know that I am going to have it way harder than my parents. It seems like every day on the news they keep talking about our economy getting worse and worse. I am confused about why the foreigners are spending so much money on our stock and they are in debt so bad. If we wouldn’t let people come over here and get in debt and that includes foreigners or Americans then we wouldn’t be in the situation that we are in right now.