U.S. economy heading towards recession: opinion

LONDON, July 8 (Xinhua) -- The United States is in free fall, and its economy heading towards recession, said a critique published on The Telegraph recently.

"Perhaps the saddest sight in the world today is the stunning decline of the globe's sinking superpower," Nile Gardiner, a foreign policy analyst and former aide to British ex-Prime Minister Margaret Thatcher, wrote in the article.

He noted that the country is experiencing soaring inflation, skyrocketing prices for petrol and consumer goods, and a plummeting stock market erasing trillions of dollars from the value of American retirement accounts.

Fewer than one in four Americans now believe the United States is heading in the "right direction," the opinion article quoted data from a Real Clear Politics average poll as saying.