Seems the glory days of US is coming to an end courtesy GWB and Ben Barnanke like the previous cycle of UK but that time, at least globalization wasn't there and the economies were not by and large export oriented. I feel really puzzled. Do this combo care about it? Alan Greenspan was good but he's now with Bank of England. So complex and massive the scale of problem is, I don't know if there's any better person than AG to handle. DX is deep down, I feel really worried about the ensuing massive turmoil. It's just a matter of time now. The only good news is that if China is virtually the banker of US, it may never commit suicide itself. If US economy trips, it could be very ugly for this planet, don't really wanna dream.
RE:Crash
by vinod kumar on Dec 18, 2007 11:55 PM Permalink
I agree, the Empire is on its last leg. The 7000 bases in 130 countries, a trillion dollars in defense spending and unmitigated consumption by general American has all been made possible by 'loans' from Oil money and Asian money. This cycle will last another 10-15 years and will play itself out by 2025. By then the so called balance of economic of power would have reached equilibrium.
