Global Role of U.S. Weakened by Economic Crisis

The absence of a revolutionary grouping capable of organizing and directing the deep discontent of the millions of Americans thrown into bankruptcy by big business might allow a post-crisis reshuffling of the system in the United States. A concentration of capital and hoarding of wealth, the absorption of small businesses by large businesses and the use of the advantages of power could change the U.S.

However, it is clear that the global hegemonic role of the United States, as the center of imperial and counterrevolutionary power, will seriously be weakened.

The former economic power of the United States will be broken. It will no longer have supremacy as the exporting country and will have a burden to bear as a very severe consequence of all its debts and its growing trade deficit. One of the outcomes of the crisis could be the depreciation of the dollar and the deterioration of its support to make purchases abroad.

In the case of Europe, the scenarios could be different.

In France, Italy, Germany, Great Britain and other countries the economic crisis affecting many businesses and banks were linked to the exchange with United States, small savers and investors have had millions in losses; businesses have closed and have high unemployment rates.

The ideological and political defeat of neoliberalism has left the European right unarmed.

The botching of the war in Iraq and Afghanistan, the deployment of missiles in the East and provocations against Russia in the Caucasus, had fanned trends of anti-imperialism among the workers. Now the crisis with its attendant unemployment and the crash of the ideology of neoliberalism, have created conditions for a rise of a revolutionary movement in Europe.

The monopolistic groups and the financial elite pretend, as in other times, to throw the weight of the crisis on the impoverished workers and the masses and impede, by all means, even with the wars waging in the Middle East and Latin America, to salvage the capitalist system and the planetary domain of imperialism.

However, the depth of the crisis could lead to other stages, and the world is on the threshold of historical revolutionary changes.