The whole world is in the state of economic uncertainty after one of the biggest economic crisis in America in the history. The election of Barack Obama gives the world a big hope to consolidate economic situation and head towards further progress. Some Astrologers have already predicted that the economic crisis could prolong up to 2010. President Bush’s 700 billion dollars bailout plan have saved many big American multinational financial companies from complete collapse but it might not be sufficient to overcome the over all economic condition. Obama needs to work very hard to bring the American economy out of crisis and direct towards progress. The whole world’s economy somehow depends on the US economy and so the positive change in America will positively affect the economy of other countries.
The economic crisis which started with the crisis in mortgage sector in the US directly affected the finance and banking sectors, stock market, and petroleum industry of the world. Europe, Russia, Japan, Asia all are in economic trouble. One the major effect of this crisis is the decreasing price of oil and other commodities. Because of this price change some may gain some may lose but over all economy will not be benefited.
The whole world is waiting for a positive change in America under Obama. He is a visonery dreamer. He could lead the US and the world towards a bright future.
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