George Bush's misguided war in Iraq and the sub-prime fiasco have pushed USA into a record decline. The net result is the astronomical increase in oil prices, which is going to the Middle Eastern Oil Producers making them wealthy beyond imagination/expectation.
The surplus funds in their hands are being used to buy plum American Banks and Companies. The poor losers are the American Public who pay higher taxes, see a decline in the value of their homes, face increasing gas prices at the pumps and see their dear dollor lose all value, putting a dent in their holiday plans.
There is no point in decrying the economic effects of wrong decisions by the American Government and Banks.
USA is a great advocate of free markets and sometimes the markets work against them and they have to face the consequences.The sub-prime crisis will play itself out soon and the Banks will go back to their merry lending ways. The market will correct itself when demand and supply positions balance out.
Americans should realise that a great recycling of wealth and influence is taking place in the world and there is not much they can do about it.If they want to act against anyone it is George Bush.Time to impeach him and put a stop to the war in Iraq.
Till then Americans should drive less and consume less.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment