Looks like past 60 year grew a huge artificial economic bubble
Something is wrong when an economic downturn in one country sends losses all around the world. I think countries should be much more independent of one another in economic sense to prevent widespread suffering from mistakes in just one country.
When I read something like this, it just makes me feel the system is artificial:
PARIS ? Global stock markets plunged on Monday as fears spread that the turmoil in United States mortgage markets is spreading. Indexes in Europe fell as much as 7 percent after a huge sell-off in Asia.
?There?s something approaching panic in the market,? Holger Schmieding, the chief European economist at Bank of America in London, said by telephone. ?There?s been a reassessment in the market of the U.S. economic outlook, with most people now thinking that there will be a recession,? and investors are starting to reconsider the idea that the rest of the world ?will remain aloof from U.S. problems.?