Posted on 10/10/2008 9:24:17 AM PDT by smokingfrog
The financial meltdown on Wall Street and elsewhere is not simply endangering investments, payrolls, consumer purchases, and business transactions in America. It is also triggering predictions—especially from overseas—that the era of American financial primacy is coming to a dramatic end.
The unique role of the U.S. dollar as the world's broadly chosen reserve currency, along with the globe-straddling role of the U.S. financial sector, have long been a key source of power, prestige, and financing opportunities for American companies and the U.S. government. Eroding that stellar status endangers a central pillar of the mostly U.S.-inspired system that has basically defined the contours of international affairs since World War II.
The American status in matters financial, not surprisingly, has inspired both respect and resentment over the decades. So, as Wall Street and other banks have been shaken, some of the overseas reaction has been quick to call for a loosening of the longstanding American grip on global finance.
Some of that reaction reflects outright unhappiness with the Bush administration, not to mention renewed rivalry with the United States over unrelated issues. Russian President Dmitri Medvedev cited U.S. "egoism" in the financial fall and predicted, with apparent pleasure, "The times when one economy and one country dominated are gone for good."
(Excerpt) Read more at usnews.com ...
Double that!
In 1929 through the end of the “Great Depression” the rest of the world had just a recession.
America had a “Great Depression” which was deeper and longer than the rest of the world; adding the Great, BECAUSE OF GOVERNMENT INTERVENTION.
We have learned nothing and will do the same thing.
If McCain wins and I still think he does - we need to drill drill and drill.
We have 4 times the Saudis reserves in shale oil, coal diesel and ND oil. Out of this mess we can become energy independent. $750 billion stays in the country.
This will be an incredible wealth creator and will “recapitalize” America. ND farmers are getting rich.
McCain & Palin need to offer us a CLEAR vision:
1. We are going to become energy independent and it will create jobs AND wealth.
2. People involved in the financial fall out will be prosecuted.
3. People involved in stealing votes and campaign frqaud will be prosecuted.
4. Fannie Mae and Freddie Mac will be wound down and rules put in place so this never happens again.
Add to the list but like the Contract With America we keep it to 10 things.
Then hammer how Obama is a crook. McCain HAS HAS HAS to offer a specific contrast to Obama. Attack and Hope.
HOW HE AND PALIN ARE GOING TO FIX IT and punish people and make America great again. Let the MSM attack his plan. Any plan is better than Obama’s no plan.
Germany was far worse than America. FDR was wrong no doubt. McCain needs a 10 point plan. Energy independence is the key. It will create wealth, jobs, tax revuene, keep Americans money in America. It is a HUGE wealth creator.
McCain needs a 10 Point Plan NOW!!
Contrasts and point out the other guy is clueless, has no plan and is involved in criminal activity ($800,000) with ACORN which contributed to the sub prime disaster.
No more of this “Friends” sh*t on the stump either.
Forget the MSM - speak to the scared American people who are REALLY scared of Obama.
I like your thinking.
Thanks. The United States has always had economic shots in the arm with things like gold rushes and land rushes.
McCain and Palin have to be positive and offer a specific 10 Point Plan.
We have FOUR times the Saudis reserves in the lower 48 states. In shale oil, coal diesel and ND oil. We can become energy independent in 4 years - hell yes it is the McCain Marshall Plan.
Energy is a huge wealth creator. It creates jobs, taxes, wealth and more jobs. We stop sending $750 billion to the Saudis and others.
We change the RULES now or play by the Dems rules.
1. We are going to become energy independent by Drilling in the lower 48 and we keep doing green stuff but we are doing it NOW! Not 209 years down the road with geren pipe dreeams.
2. People involved in mortgage crisis and financial blow up will be prosecuted.
3. People involved in voter theft and fraud will be prosecuted.
We need 7 More for McCain’s 10 Point Plan like the contract with America.
Any plan is better then no plan. Do the whole positive plan then hammer Obama as an ACORN criminal who gave $800,000 to CRON, Ayers, and Wright.
Now is the time. Americans are smart enough to know that $750 billion out of the country for oil that will stay here will “recapitalize” the country and create jobs.
And if we elect Obama and lose the war we will not pull ourselves out as we did when we decided to enter and win World War II.
Simple facts: look at how the USD is gaining in leaps and bounds against the EUR, the CAD, and the GBP.
The only major currencies staying even or gaining slightly on the USD are the CNY, HKD and the JPY.
The dollar is still king, and is re-asserting its position of leadership and value. We’re seeing a realignment of the financials and money from a Euro-American alignment to an Asian-American alignment.
“The unique role of the U.S. dollar as the world’s broadly chosen reserve currency” is how we can inflate ourselves out of debt. If we have to pay for our own stupidity, we’ll be third world in no time...
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