At 10/27/09 11:46 AM, Jezuz wrote:
From my perspective, China is a country that is now trying to stomp over the United States, and flex their economic muscle due to a weakened dollar. They're stealing a lot of our 'talent', and they're developing much quicker than we are, but I don't see that lasting. Our 'talent' in economics is what made this country fail in the first place. Good luck to them. Europe may think of us more progressive in social values now, but again I believe America is looked at as weak now, that our economy is in shambles and it has caused Europe's economy to shrink, which may anger Europeans.
The crisis started begun in the USA and has caused it to get in - what economics call - downward spiral. The debt of the USA is dramatically increasing and with the current economic-models, -strategies, -facilities and etcetera the USA uses it isn't showing any improvement so far. As the graphic (source of 2008 (!)) shows, the USA has a lot of debt to other countries. I didn't used any graphs released by the Federal Reserve since that can't be considered as a neutral party - heck, it isn't even part of the government.
In all honesty, the USA is still struggling to get the inflation stable and for a long time already the Euro has been the most stable currency countries use. Not to forget the dollar will most likely will be replaced by a basket of stable currencies shared by the current 'super powers'. Also not to forget that secret deals the USA made with Saudi-Arabia in the '60 are pretty much useless nowadays.
The USA still has a long road to walk before they are back on the 'top'. It isn't even surprising that Obama now tries to implement divers (economic/social/government) systems of Europe (including the healthcare facility of the Netherlands) to slowly crawl back - but when that happens, others have taken their opportunities...