There is a huge difference between a terrible economy -- the worst in 70 years, that is now pretty clear -- and going bankrupt. It's pretty hard to go bankrupt when you can print money ;-(

>Bank of America announced yesterday that they would dissolving 30,000 jobs during the next 3 years. Add that to the numerous other notices of job losses in other industries and it looks extremely bad... not bankrupt, but certainly the economy is going bust...
>
>Announcement here:
>http://www.bloomberg.com/apps/news?pid=20601103&sid=aswiJZGC2Ca8&refer=us
>
>>What do you mean the U.S. is bankrupt? How come that didn't make the news?
>>
>>>Of course, when you consider Inflation and Currency Devaluation, they are loosing money; and there is still risk of default considering the US is bankrupt.
>>>
>>>Bob
>>>
>>>>>>>http://news.yahoo.com/s/nm/20081212/bs_nm/us_madoff_arrest
>>>>>>
>>>>>>Perhaps the Ponzi scheme should be given a new name?
>>>>>
>>>>>Or switch to more consumer friendly names - stock market or real-estate market - same things.
>>>>
>>>>Yeah, they've been doing great, haven't they? I read the other day that the U.S. government came out with a new issue that pays 0% interest but is guaranteed not to lose value. It quickly sold out and there were three or four times as many people who wanted to invest in it than there was room for. Think about that for a minute. All the traditional places to put your money are so far in the toilet people will gladly get into something GUARANTEED NOT TO MAKE MONEY just to hang onto what they've got.