The Financial Times of London, in an article datelined October 1, 2004, ran a special report on the world economy, focusing on threats to global economic growth. One of the main portions of this article was something that focused on the U.S. trade deficit—"the big balancing act" as it was called. It was pointed out that a record $55.8 billion U.S. trade deficit in June was a reminder that one of the world's great economic imbalances has yet to be rectified.

An NBC news Wall Street Journal poll asked the question, "Thinking back to when you were growing up, would you say that the social and moral values of the United States were the same as today, higher than today or lower than today" The vast majority felt that today's standards were lower and that standards of unacceptable behavior have dropped. More specifically, in the past ten years, society has gotten much weaker in respect to authority, commitment to marriage, respect for the law, respect for other people, personal responsibility, good citizenship and the work ethic.

Greetings, friends around the world! This is Roderick C. Meredith, speaking for Tomorrow's World!

When will the next massive earthquake strike? And where?

What's ahead for the economy in the United States and, for that matter, the rest of the world? A front page article in the Wall Street Journal recently proclaimed that an economic slowdown was spreading worldwide. Surging oil prices, falling stocks and weak technology spending is all feeding into this economic slowdown. In fact, the Asian economies are particularly exposed to the risk of a slump because many are more oil dependent than the United States. In fact, the American trade gap has widened to a record almost 56 billion dollars in June of 2004. Exports slid, imports jumped and a much higher bill for foreign oil. In fact, crude oil futures have now topped $46 for the first time and they are continuing about the increase shortages. Where are all these things leading? Where is it headed? Where is it going? Where are these things leading?

Federal deficits in the United States are skyrocketing—and there are serious consequences that are ahead for our nation as a result of what's going on in terms of our nation's economy. The Federal deficit from the year 2004 is over one half trillion dollars—over $500 billion! The entire Federal debt is over $7 trillion.