Thursday, July 21, 2011
Political Mayhem Thursday with Guest Blogger Marta: Who will bail out the United States?
Today's guest commentary comes from scientist and former Communist Scout, Marta.
First off the bat, I am far from being an expert on the subject of politics. In fact it is a subject I’m rather averse to, given my personal experience as a keen observer and reluctant participant in one of the more peculiar dictatorships communism had to offer history and I suspect that is why the Prof asked me to sound off on Political Mayhem Thursday. So, having stated my position I will ask the Razor experts to enlighten me on the subject of the present state of The United States.
With ineffectual and totally unproductive political bickering, a sclerotic economy (almost totally unproductive) and a populace still highly addicted on the drug called credit, who will bail out the United States?
It looks like our good friend and ally, the European Union, has Germany to bail them out. And that is because while Wall Street ran the American economy inside a bubble of subprime mortgages, collateralized debt obligations and other such unsavory financial speculations, Germany focused on making stuff or rather making “making stuff” work in today’s global economy environment. Speculation often works and one can speculate all they want when they have something solid to sit their behind on while they speculate, but it looks like that something solid is no longer here in America. It is now Made in Somewhere Else and we owe Somewhere Else lots of real (not speculative) money for that. And this is not just economics, it is politics too. Or isn’t it?
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China is bailing us out. Or so we think. They've actually taken the long view, but we - with our "right now" mentality - took the bait. They'll reel us in, eventually. And it will hurt.
When George W. Bush decided to start two wars without going to the American people to explain 1) Why these were necessary and 2) Because they were necessary, we (all) needed to pay for them via increased taxes, he/we had no choice but to turn to a country willing to lend us what we needed to "pay" for our wars.
China was more than happy to buy our debt. Thanks, Dubya.
When George W. Bush decided to start two wars without going to the American people to explain 1) Why these were necessary and 2) Because they were necessary, we (all) needed to pay for them via increased taxes, he/we had no choice but to turn to a country willing to lend us what we needed to "pay" for our wars.
China was more than happy to buy our debt. Thanks, Dubya.
# posted by 
: 1:53 AM
: 1:53 AM
WIthout the capitalized W on who, question mark, or : mark, it would read "Political Mayhem Thursday with Blogger Marta who will bail out the united states.
Expect the unexpected. If Europe had not hurtled into WWI, Germany would have ended up in a far more dominant position economically a lot ealier. England probably would have gone to war in Ireland in a bloody civil war and France would have never recoved Alsace Lorraine.
WWII pushed the U.S. to the top of the economic heap for all kinds of reasons.
China is headed for a fall. Its economy is super heated, it has huge demographic challenges (too many old people, not enough women, incredible population shifts of people to cities and enviromental policies that make our coal barons look green).
There will be a war(s), natural disasters and incidents that none of us anticipate....
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WWII pushed the U.S. to the top of the economic heap for all kinds of reasons.
China is headed for a fall. Its economy is super heated, it has huge demographic challenges (too many old people, not enough women, incredible population shifts of people to cities and enviromental policies that make our coal barons look green).
There will be a war(s), natural disasters and incidents that none of us anticipate....
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