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article imageHeadlines of the World Reflect Universal Economic Disaster

By Carol Forsloff     Dec 22, 2008 in Business
Anyone who doubts that virtually every country in the world has the same issues need only examine the newspapers to learn that it’s a small world after all.
Indeed that small world is reporting that we’re in big trouble everywhere. We might want to duck, run for cover, leave town, not think about it; but the fact remains it appears from the news of the world, we are truly in this together.
Check out China’s Daily News from BizChina, and it looks like the front pages of a newspaper in a major American City. The headline of December 22, 2008 screams “Details of real-estate stimulus package unveiled.” Sound familiar,, California, New York, Illinois?
Take a gander at the French. They are putting together a second stimulus package. Guess why? They are having economic problems, like everywhere else, it appears. Here’s a headline from December 19: “French Plan second stimulus package” from FT.com, an online French journal in English.
Meander now to Norway that proclaims its own grief. Read this headline in Aftenbladt.No.
“The krone receives a record beating.” Currency problems of Norway are discussed along with grim economic news.
The Independent.ie of Ireland likely has good news, you think? But have a look at this: "'€7.5bn bank gamble. " The paper goes on to discuss the nationalization of the Anglo Irish bank and its scandals. Smacks of Wall Street, perhaps? Looks like the Americans aren’t the only ones with financial titans who took over.
Now we ought not forget a paradise like Pago Pago. Its status is reported in the Sunday December 21 edition of the Honolulu Advertiser. Their status is explained like this: “American Samoa seeks help for economy.” Turns out paradise needs a bailout too.
We ought not to forget Africa, an area news sometimes neglects, unless its to talk about starving children. But starving it is, but spelled out in the same way as in United States newspapers. It’s talk of bucking up the economy of Senegal with a headline in GMRI Africalink that tells us: “IMF Approves $76 Million Aid for Senegal to Combat High Prices.” Here’s an international bailout with a much lower price tag than the one recommended for the auto industry in the United States. But it’s Africa, after all.
Gee, folks. This is world news. Most newspapers don’t put it together, but here’s what I did for you. Now read it again and weep. I did.
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