U.S. exports economic problems

Sunday, July 20, 2008 | 10:00 a.m. CDT; updated 4:58 p.m. CDT, Tuesday, July 22, 2008

Loory: The credit market crisis in the United States is of major concern. Public opinion polls say the economy is a bigger issue in the U.S. than the wars in Iraq or Afghanistan. Housing prices are going down; inflation rates are going up. The number of homeowners unable to make payments on adjustable rate mortgages is increasing. Unemployment is rising. The economic problems afflicting the U.S. are also showing up in the United Kingdom, Spain, Australia and Ireland. What impact are the Federal Reserve’s plans to bail out mortgage industry giants Fannie Mae and Freddie Mac going to have on the housing market in the U.S. and on other countries that invest in those organizations?