We often hear about how the US is such a consumption oriented country. We’ve got the fattest people, we pollute the most, we’re spoiled… yeah, yeah, whatever.

But here is an interesting way to look at the economic impact the US plays on the global economy. You see, comparing the Gross Domestic Product of another nation, say… Canada, to the US is just silly. In fact, the entire output of Canada is roughly equal to just the state of Texas.
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Today the New York Stock Exchange had a record setting day… in a very bad way. Without warning and in a period spanning just one minute, the market lost a combined $60 Billion in just the top 30 blue chip companies. That’s with a “B” folks.

The Associated Press said the following:

Stocks Have Worst Day Since 9/11 Attacks: Dow Down 416, Nasdaq Drop 97 on Global Market Plunge

NEW YORK (AP) — Stocks had their worst day of trading since the Sept. 11, 2001, terrorist attacks Tuesday, hurtling the Dow Jones industrials down more than 400 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.
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Nitroglycerin is volatile. So are markets, all markets. Always have been, always will be. In 2000 the stock market took a nose dive, just as it has, on average, every 7 years since they opened the doors of the NYSE.

Spinach farmers can tell you a thing or two about volatility with the recent food poisoning scare that came out of California. And a lot of people have a lifetimes worth of experience with making and losing money on real estate.
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Every morning I get up and look through the Forbes list of the Richest People in America. And if I’m not there, I go to work.