The US debt clock is a billboard size digital display and is currently installed on Sixth Avenue in Manhattan, New York City. I have seen the picture and posted it here. It is like the pollution digital display.
It made headlines months ago when the US debt surpassed the $10 Trillion mark and it runs out of sufficient digits to display the amount. The US debt clock reminds us of the bad times we are passing through.
The bad times am referring to is the recession that the US and the world is experiencing now. The recession is I think getting to the level of the Great Depression of 1930s where unemployment rate reached more than 20%. And the working people are lining the streets for food coupons.
Now the US unemployment rate is nearing 10% and it is going up and the other industrialised countries are having these same characterization. More business establishments are cutting off jobs. More banks and other financial institutions are going bankrupt and seeking the aid of the government to weather the economic storm, the Wall Street meltdown. We are witness to the fall of the world biggest insurance company AIG, the crash of the US automotive industry, the burst of the housing bubble, etcetera.
The US debt clock reminds the people to rethink what the system of greed is all about. Let us think for long term solutions to the problem of the system.
Can Mr Obama lead us to the economic recovery? How? By stimulus program?
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