Posted on 08/06/2011 8:02:32 PM PDT by InvisibleChurch
America's credit rating being downgraded is a crucial moment not just for the United States but for the world. The world’s most powerful nation and its President have been humbled in full global view.
More fundamentally, the Western political class has been found sadly wanting in its inability to cope with a long-brewing crisis as the balance of global economic power shifts to Asia.
The interconnected nature of globalised economics and politics means there is no hiding place from the woes of the nation we have grown used to exercising leadership since 1945 and since the end of the Cold War two decades ago.
Even if we did not always relish it, America was there as an anchor for the world. Now the anchor has lost its moorings and the future has become more perilous for everybody.
Though stock markets may have discounted the downgrade, which by cruel coincidence came on the same day that US forces in Afghanistan suffered a terrible loss, and there may be some bargain-buying early next week, the fundamental problem remains....
(Excerpt) Read more at dailymail.co.uk ...
Yeah, but China needs us as much as we need them.
LOL!
Wait there are two commie states do they mean N Korea?
China is NOT Communist in any way, other than the nameplate on the authoritarian organization that rules them.
Maybe Vietnam?
I always thought this country would fold one day. I didn’t think it would be in my lifetime. These are sad times. Maybe, just maybe, there will be enough of us patriots left to rebuild this once great nation. Or die trying.
St. Helens'll be thrown in for 25% extra.
That was a common view of Japan, just before they bombed Pearl Harbor.
Wait, wasn’t Obama going to cure the sick and help the blind to see? Wasn’t Europe fawning over his miraculous anointment? Welcome to our new reality boys. You helped get us here. Now suffer right along with us evil Bush/Cowboy lovers.
What? Longing for those days when “America was the anchor” or some such? Like when the ‘Cowboy’ and RR ran things? Shoulda thought about that before praising “The One” and Democrat Socialists so stridently.
To call China communist is to demonstrate your ignorance. China is CINO - communist in name only.
Anybody that’s been there within the past 10 years can attest to the fact that they’ve taken to capitalism with a vengeance - and the results show it. And Capitalism is anathema to communism.
The way I would describe the chinese government is a single party, nationalist dictatorship - in terms of traditional political classification, I would say it’s much closer to fascism than communism.
IMHO China is more fascist, than communist.
Frankly.
the mother of all ironies by richard nixon who opened china to western free markets.
Everything that has been going on has been turning more of my hair gray. I am literally sick to my stomach. I hope this all passes someday but I just don’t see it
The United States IS the world’s last communist state; and we’re not in a position to bail out anybody.
Traditionally, the primry distinction between communism and fascism has been that, under communism, the state owns the means of production. And, under fascism, the state controls the means of production.
The Soviet system vs Nazi Germany, e.g.
How does that apply to modern China?
I think it should be presented as a case of the oldest surviving communist state offering fraternal assistance to the newest arrival to the collective.
If there was ever proof needed that tolerance of declared enemies is suicide, and that nits make lice, this is it.
Thats three more commie states right there.
Speaking of Communists, anyone besides me notice the deafening silence out of Hollywood over this latest disaster?
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