USA is the cause, world got infected.

The last 3 issues from Bush 43's Saturday morning speech are related and so are discussed in this post.

The economic turmoil is not just with the US: this turmoil is because of and from the USA directly. The reason the rest of the world is sharing in these financial woes is because they bought these MBS, CDO protected by CDS. In other words, we infected the entire world. It stared with US and it will have to end with US.

The USA is the largest and most resilient economy in the world: this may have been before the EERA 2008, but now that the US Government has begun the process of nationalizing its free-markets, the USA will see its GDP and productivity drop like Europe, Japan, and Russia as they began to nationalize their markets.

The world is coming together to solve this problem: well, all you have to do is see how the current G8 financial meeting in Washington DC is dissolving into in-fighting and disagreement. Ireland can't agree with the EU is not doing, Germany blasts Ireland and then does exactly the same thing, France tells the USA to "pack sand", and Italy is just clueless.