The Economic crisis in the US is entirely doing of the 'Race Politics' as practiced by the Republicans and the Tea Party. There are elements in both Republicans and entire Tea Party who are against a Black President. No amount denial is going to make this feeling go away. And they are doing everything in their capacity make Obama fail and their goal is that Obama should not run from Presidency in 2012. These White bigots dont care what happens to the World Economy, they just dont want Obama to run for 2012.
We've all heard these same dire predictions of the imminent demise of the US economy so many times before by the gloom and doom brigade- history has always proven them wrong. A mature, $US14 trillion economy doesn't just disappear like ether overnight- this is a mere temporary hiccup, and like always, this economy revvs back stronger and bigger. He who laughs last, laughs best.
If USA decides that it is going to pay back all the dollars that were earned by China, It has simply to print the dollars and pay it back to China, problem solved. Let China decide what it wants to do with those dollars. America can gradually earn back those dollars and bring it back. I know this sounds stupid, but this is the only solution to this problem.
Re: USA is too big a economy to Fail
by India Desi on Aug 11, 2011 12:04 AM
Thats what most people think about big powers before collapse. However the world moves on inspite of this . History is abound with similar or bigger examples.
The world will be less effected if the trade is now done using a basket of currencies from BRICS rather than sole US dollar which was stupid to start with. Same for foreign reserves they should be in multiple currencies.
Re: Our A. Raja has given a cheque to Obama from his Petty Cash A
by India Desi on Aug 11, 2011 12:06 AM
Swiss banks balance of Madam,Pawar and remaining congressis can easily save Europe economy.
America was never a AAA it was a sheer hypothisis. Since the collapse of USSR, America was showing the world that it was / is mightier only because of its arms and nothing else. The truth is America is 000.
