Over spending a problem for U.S.citizens?

While doing research on the U.S. economy and why it failed I stumbled upon a couple intriguing web sites.  The first being http://www.bloomberg.com/news/2011-10-03/pimco-s-gross-says-global-recession-risk-is-overtaking-new-normal-forecast.html which was an article done by a gentleman named Bill Gross, who is a manager at the world’s largest bond fund, over the subject of if the U.S. economy today is going to relapse into another recession maybe even worse this time.  Throughout the article he argues for if politicians and higher ups started working together instead of everyone for themselves things might start looking better instead of everyone pretty much shooting themselves in the foot.  This article was interesting to me because it gave me a little insight on different peoples’ views about the current economic situation which are similar to mine because I think as well that politicians and the higher ups are pretty much doing whatever they can to get votes and have no awareness on the overall effect of the actions they take.

                The second interesting site I found was http://www.lilith-ezine.com/articles/politics/American-Economy-Collapsing.html. Through this article they go into inflation on the US dollar and why our economy is the way it is.  This page had some very interesting and controversial facts such as, “The American dollar is becoming worthless, and unlike a normal recession the US economy is still growing in GDP; The result is that that the American dollar isn't actually worth much when you think about it. It is just paper after all. For decades its value has been boosted by strong demand overseas as banks used it as backup currency because it was stable and strong.”  These quotes along with many others through the article gave me a better look and a more understanding of what’s really happening with the money situation in the U.S.. Looking through these sources it brings up the question in my mind of why mortgage were so lenient with borrowers and why do all of our job’s go overseas now and no one seems to care?