Thursday, July 28, 2011
© Copyright 2014
After the British defeated Nazi Germany, it had reduced itself to poverty. The surviving veterans returned to mass unemployment; where coal mines were the only jobs available. The British government faced large deficits. So, they turned to the United States for help.
We were only country that was intact. "The City" (their version of Wall Street) was as bad off; there was no money to make deals. The British and "The City" turned the financial market over to Wall Street, to lead the world markets.
Are we trying to duplicate the same scenario? Are we trying to turn the world economy over to Moscow or Beijing? It seems that the old NATO countries are having financial problems similar to the time after World War II. Congress has not found a solution to our debt problem. What are they waiting for?
Will we become a second-rate economic power by 2015? The Chinese have reported that they will lead the world in Research and Development (R&D) by 2014. Is the United States will to relinquish its dominant position? Have we surrendered the title?
Are Wall Street and Washington living in denial? Has Wall Street lived too long in their dream world? Does Wall Street believe they create money from thin air?