Franconomics is currently offering one dollar per submitted write-up describing a country of your choice in the format below. E-mail your entries to countrywise (at) franconomics.com. You must be a U.S. Citizen / green-card holder to earn dollars. Once we publish 10 entries, we shall mail you a check for 10 dollars. We will integrate the articles to match the theme of this website, which is focused on the screwed up financial systems, built by bankers and financiers, to favor bankers and financiers. In other words, we will modify the content as we please and own all copy rights. Thank you.
United States
At $13.8 trillion in GDP for 2007, USA is the largest economy, and a dominant player in the Global economy. However, the coming together of powerful European economies like Germany, UK, and France as the European Union poses challenges to world economic domination by the United States in the years to come. Longer term, higher GDP growth rates in India and China can dislodge the United States from its number one position as the world's largest national economy,Currently, the United States is in the middle of a recession (i.e., two or more back-to-back quarters of negative GDP growth). So, the GDP Growth Rate provided below may not be a true indicator of the US economy longer term, which over the years, has grown at 2 % to 3% year over year. Also, even though the official unemployment rate is only 6.7% of the labor force, people who don't have jobs and / or are underemployed tend to believe that the actual unemployment is higher. Also, recent declines in housing prices and stock market valuations have further eroded the purchasing power of most Americans. Former auto manufacturing powerhouses like GM and Ford would be bankrupt, if not for billions of dollars in bailout from the Federal Government. Deflationary pressures exist not only on home and car prices, but also on food and gas prices. These are turbulent times; use your discretion in applying the economic data below as part of any analysis. For a good understanding of unemployment and inflation, read this article / lesson review.
Franconomic Data
Nominal (inflation adjusted) GDP: $13,800 billionGDP Growth Rate: Currently negative quarter over quarter (recession)
Population: 301 million
Labor Force: 155 million
Unemployment: 6.7% of the labor force
Dow Jones Industrial Average 52 week range: 7392.27 - 13614.50
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