Now a Global Problem

Despite the Federal Reserve drop in interest rates to help growth in the economy, the United States economy is dragging down the rest of the world. Starting with Japan's market which dropped nearly 4 percent on the worries of the United States economy which has already dropped the Japanese in to a recession.
Some of the biggest problems that the United States is facing is in the mortgage sector. There has been many losses on the subprime and equity markets that have hurt the economy greatly. I believe that the main problem face the United States is the amount of home forclousres that are happening now. The numbers have gone up and they are not getting better. This is really putting a drain on the economy in the United States and the rest of the world.
The United States has done things to help like an emergency 75 basis point Federal Cut and a $150 million plan to start growth. They also want to cut interest rates again. I hope that this will help the economy not just for us but for the rest of the world also.
This infomation can from an article "Economy woes batter global equities" by Jeremy Gaunt from http://www.reuter.com/articlePrint?articleId=USL2545612820080128.