Recently, there has been much talk about a possible “economic recession” within the United States, which could spread around the world, causing much chaos in the “global economy”. The first thing that strikes me as odd, is that some people are considering this as a new problem, caused by the fallout of “sub-prime borrowers” going bankrupt, or perhaps the rising prices of fossil fuels and consumer goods.
On the contrary, these issues are only symptoms of the underlying causes of the impending “recession”, looming on the dark horizon. To understand the current state of the American economy, we must consider the overall health of the American economy, over the course of the last few decades or perhaps even further back than that! Now, keep in mind that I am not an economist, but an American consumer and working class citizen at large (an average guy).
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So far this is the best explanation I have found for the coming recession.