Seriously, don't be afraid. This is a media recession. If this were a real economic problem, companies would be tightening their belts, buying shares, merging, selling off stuff, and the vultures would be there pecking at carcasses. It's not happening. The papers make things sound bad, but imagine you didn't read the papers. When you go out, things are pretty much the way they always where.
Exactly.
But I am sure we have made a lot of pornos because U.S. constitution protects them for the freedom of speech. And it is really risky for any people in Middle East to shoot porns than in U.S.A. . So probably this is one of few things that we make that poor men outside U.S. truly rely on.
Boeing is trans-national with production worldwide
Ford is trans-national with production worldwide
Microsoft is trans-national with development worldwide
Apple is predominantly US based but trans-national
Nike manufactures in China or anywhere sufficiently cheap
Levi is the same
McDonalds gets its meat from Brazil and is trans-national
Coca-Cola is trans-national - in WWII Coca-Cola in germany was scarce, so the local franchisee developed Fanta as an alternative which made its way back after the war.
I could do without all of those during hard times.
I don't expect times to get that tough.
For planes, there's already a nice inventory of used aircraft backing up thanks to the latest airline bankruptcies. Do you think an airline will be buying new (or any?) aircraft if vacation and business travel drops off a cliff?
Anyone who believes this is seriously believes this needs to read some books.
1) You should worry when your country produces significantly more "money" than your country produces value. See Bailout Bill (I fail to see the value produced in writing up $700 billion taxed on firefighters and teachers).
2) You should worry when organizations like IMF and the World Bank extend loans to these other countries, jack up in the interest and take up more than half of the country's budget on the interest instead of the principal. Most of the countries we "help out" end up becoming more impoverished after we extend a loan to them, and much of what we build ends up doing more harm than good. Worse, the money does not even exist in the first place.