These days, anyone who follows current events should understand two things. First, the U.S. is to blame for the current economic crisis. This view is widely held. Second, the U.S. is also to blame for the sovereign debt crisis in Europe. This point is more likely to arouse skepticism.
These two points are our topic of discussion.
At last year’s global economic summit, the nations of the world agreed that, in order to rescue the global economy, it was necessary to increase government spending and invest a great deal of capital in the markets. China invested over 7 trillion RMB, an investment that China still does not dare withdraw. This point is common knowledge.
In order to ensure that efforts to stimulate the economy are effective, nations must consume manufacturing surpluses and raise salaries, restoring the balance of supply and demand. Many nations must therefore put funds into the markets. But a few countries, such as Greece, Italy, Spain, England, and Japan, were already running deficits at the time of the crisis. These nations still had to put funds into the markets.
Why do things just keep getting worse for these countries? It is because of the economic crisis caused by the U.S.
The European economic crisis was been very serious, but the U.S. exacerbated Europe’s problems with its unrelenting demands.
The Americans have all but recovered from the crisis, but they still continue to demand that other countries carry out economic stimulus policies. However, many European countries, including England, are trying to decrease government spending. U.S. desires are at odds with other nations’ needs.
Thus, in reality the European sovereign debt crisis is the U.S.’s fault.
From whence, then, comes our assertion that the U.S.’s economic recovery policy self-defeated? We believe that in moving stones, so to speak, the U.S. is liable to drop one on its own foot.
At some point, the vast majority of countries will have to get their own finances in line in order to avoid Greece’s fate and to avoid the Americans’ judgment. This is unavoidable.
And yet Obama’s supporters promote his economic agenda far and wide. They continue to demand that other countries open their markets to the U.S. in order to attain their export objectives. How tolerant will other nations be of these demands?
Another problem: England has a large military presence in Afghanistan and has invested 75 million pounds in the Afghan economy. Seeing that the British government’s goal is to decrease government spending and limit public services, it’s difficult to imagine that London will keep its 10,000 troops in Afghanistan. What about other countries?
This all begs the question: having caused this global economic crisis, on what basis can the U.S. ask other nations to do its bidding in Afghanistan, Iraq, Palestine, and Yemen?
The sovereign debt crisis is slowly approaching England. Maybe the next time the world economy crashes the U.S. will be forced to face the consequences of its actions.
The U.S. not recovered, unless you accept the fantasy of a “jobless” recovery to be a fact.
As for the U.S. demanding access to other markets around the world, the only demands I’ve seen lately are for the reinstatement of U.S. tariffs, in order to stop the current dumping into OUR markets, that has destroyed our worker’s jobs.
President Obama’s economics are no different than the policies of every other administration before him…borrow & spend, and never pay the balance down.
The results are evidenced by the current price of gold, in U.S. dollars per ounce.
And in your rush to condemn the Americans, you have entirely ignored the IMF and world banks, and their part in the global meltdown. While some of them my call the U.S. home, they truly have no country, being global manipulative entities unto themselves.