Is it right to comment on Us.After all free speech and democracy originated from US.
Point1 -US is a very large economy.Even if it slows a bit,it is still single largest consumer. eg if a fat person eating 3 icecreams slows to 2 icecreams.The point is the person is still eating more than others.However if the $ value falls,the money value falls,increasing level of competition in pricing.Which in turn depend on cost.Fuel and oil is part of cost.
In a way it would be good if US slows from pollution and global warming point of view.Imagine if each human in the world has aspirations to consume in the same manner Us does,the world resources would deplict at a faster rate.
About credit and mortgage losses .It depends how much hit a country can take.Simply write it off.This depends on the advantage a country has in terms of resources,military and other strengths.
Point 2 -What about oil booming economies flushed with funds.r
