I suppose it was inevitable. The rest of the World is lining up to blame the US for this recent worldwide economic crisis. In that all of us were willing participants in the Ponzi scheme of making more money from money that did not exist in the first place, I would say the blame can be shared by most if not all the big players. They all got on the greed train with us. Just because we led the charge, does not mean they had to follow. Where is their ownership of responsibility?
Remember the 1980s and Japan's rise to super economic engine and how everyone envied their status? Remember how many US companies attempted to bring in the Japanese corporate model and how it wouldn't work with the mindset we have in this country? Then Japan stumbled. During their recovery, one thing they did was they began to outsource their jobs to cheaper labor markets. Wow. Seems they were following the US model after all.
That was the beginning of the end of in country economies. Of course there had been inter-dependence for years, but nothing like what took on a head of steam in the 1990's. Suddenly, everyones economy depended more and more on the economy of other countries. This went on through the 1990s with mutual dependence taking on more of the responsibility of keeping all of us afloat. A ripple created in Sri Lanka would build to a real wave in Singapore, which would then be passed to Japan or to the US.
The signals were there people. Our world leaders in government and business chose to ignore them. And now it is all the USA's fault. Right.
You know, I am sick and tired of being the World's scapegoat. I actually look forward to the day when we can blame some other country for all our self inflicted troubles. There is a lot to blame the US for. But in the scheme of who really should bear the brunt, it seems to me all these countries participated of their own free will. That they blame someone else is just passing the buck.
I do not consider myself more than average intelligent. I do not pretend to understand the intricacies of high finance or the inner workings of multi-national corporations. But one thing I do notice is when the power shifts from one entity to another. I wonder if our current troubles are not directly related to how much power the huge corporations, financial and producing, have gathered over the last fifteen years. It seems that countries everywhere have ceded entirely too much power to these huge corporations. Regulations of all kinds have been dropped or ignored as each country romanced these companies trying to lure them to set up shop. By giving them basically free run of the country, that is what the companies did, they took what they could and moved on. All the while building false images of how solid their corporate model was. And because every country was eager to get their piece of the pie, any vetting done before they set up shop was often only a token gesture.
In my opinion, the World has given up power to the pursuit of money. Ideologies have been pushed to the side or tweaked to accommodate the new economic models (China). All in the pursuit of creating a more comfortable existence for them and their population. The line between government and the private sector has blurred to the point where in many countries it is hard to tell the difference.
So get off this blame the US crap. You idiots in the rest of the World wanted what we have. Now that you have it, you are blaming us. Give me a break.
An afterthought or maybe a request - This is my opinion based on my pitiful knowledge of the over all situation. I would welcome input as to where I may be off target or hey even on target.
Keep it 'tween the ditches..............
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