Monday, October 6, 2008

Meltdowns on the scale we are seeing are not slow-motion events. They are swift and chaotic, cont.

A shattering moment in America's fall from power

Our gaze might be on the markets melting down, but the upheaval we are experiencing is more than a financial crisis, however large. Here is a historic geopolitical shift, in which the balance of power in the world is being altered irrevocably. The era of American global leadership, reaching back to the Second World War, is over. In a change as far-reaching in its implications as the fall of the Soviet Union, an entire model of government and the economy has collapsed. Meltdowns on the scale we are seeing are not slow-motion events. They are swift and chaotic, with rapidly spreading side effects

Posted by malct @ 10:34 AM (468 views)
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3 thoughts on “Meltdowns on the scale we are seeing are not slow-motion events. They are swift and chaotic, cont.

  • also from OZ
    some up to date background stuff (if that’s possible)

    Economics 101 – what the global meltdown means

    http://www.theage.com.au/national/education/economics-101–what-the-global-meltdown-means-20081006-4urk.html?page=-1

    The real comparison now is with the financial crisis that preceded the Great Depression, centred on the stockmarket collapse of 1929. Then, despite a 36% fall in the share index that year, all the Wall Street merchant banks made it through
    the Great Depression.

    This time, all five Wall Street behemoths have either failed (Lehman Brothers), been taken over at bargain-basement prices
    (Bear Stearns, Merrill Lynch), or have sought to change their status to that of commercial banks before they failed (Morgan Stanley and Goldman Sachs). And the expected economic downturn has only begun. [[[So the financial crisis is much worse than in 1929.]]]

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  • It is amazing that by trying to exploit Iraq and it`s oil wealth under the umbrella of Democratic Interventionism , America from that moment accelerated the exposure of it`s own fundamental soft underbelly which has been highlighted by the shallowness of it`s Financial Institutions and the greed of it`s Governing Classes .
    Like a corrupt Rome , America`s influence must wane . May the dark ages commence.

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  • What rising powers are we talking about? China? Doesn’t look to good either. At this moment there are only falling powers.

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