Just to give a sense of perspective on how long it could take for the current economic recession to level off, I ran across some headlines dealing with the recent debate over how the EU will handle the bailout of Greece's failed economy to prevent their government from going bankrupt. Greece has protested against Germany about how the bailout is being mishandled and the publicity is embarrassing, stating that Germany never properly paid all the reparations owed to them since WWII. Germany on Wednesday rejected Greek accusations that Berlin had failed to properly compensate Greece for Nazi occupation in World War Two, saying it had provided billions of euros worth of aid.
So 70 years later and there are still misunderstandings and conflicting opinions over money claimed as taken and what was owed, paid, etc.
The current world economic crisis will likely take at least as long to sort out.
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Since we owe everybody up the wahzoo, it will probably never work itself out. We don't own our own behinds and will be slaves to the rest of the world for many decades to come, if not forever.
ReplyDeleteIn a way, the United States is already a slave to it's own capitalistic economy. We have setup our dependence on the products of countries like China, and the oil from the Middle East. We have become a Corporate Hegemony without doing any of the production ourselves. We just import everything that gets consumed. The only way to fight back against it would be a return to the isolationism that pre-dated the war years. With world politics and global economy what they are today, this isn't a very realistic approach.
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