While it was the hard truth which the American and other supporting countries were igonering since many years. The Economy of America has collapased long ago but there were none to understand this. On one hand American governments have playing with the price of Oil and on the other hand they are importing goods from weaker economies. This has created illousion among the these economies that there exports are growing even if the oil prices are high. American got the feeling that they can purchase anything on this earth so the spending was high. To counter those who understand this fooly, there was a war on Terrorism. Where are the WMD in IRAQ? Actually it is the refusal of Saddam to continue trading in dollar which was termed as WMD. Who breeded Osama and who is fighting for Osama? Now that world is realising still (slowly though) that this financial crunch is coming up. Days are not far when dollar will touch its all time low. This has to happen as America has no other option but to get money from these weaker economies to keep its market alive. Now America will start recovering the debts and again become No.1 economic while these so called emerging markets will become 3rd world or economically weak countries. A big eye opener for Indian who got into the habit of spending too much leaving the cultural values which has tought us that ONE Rupee saved is One rupe earned.
