Friday, October 17, 2008

America's new meal: Humble pie

America's decline began long ago.
George W. Bush, the face of America has grown old and erratic in the eight years of his presidency. Little remains of his combativeness or his enthusiasm for physical fitness.
No more arrogance while the banking crisis is ending the American dominance of the financial markets and world politics.
It is the sunset of the turbo-capitalism era and the end of US militarism.
A French woman defined Bush as "yesterday's man".
And America is certainly getting the face of "Yesterday power".


Enemies. America surely has never had as many enemies as today.
Arrogance, incompetence, the view of their nation as something above the standard level, the blessings of deregulated markets and establishing rules "that only apply to others".
Now the Others include America too.
Is the fall of America, the fall of the system of the Western-style market economy?

Angela Merkel, who had always come down on the side of the United States, makes it clear who she considers the true culprit behind the current plight.
Criticizing the United States she enjoys the wholehearted support of her coalition government partner, the center-left Social Democrats (SPD).
The banking crisis in the United States has shaken the affection for America and the respect the rest of the world once had for the US as an economic and political superpower.
Besides the disaster has also turned into one of the biggest criminal investigations in American history.
Economists go as far as defining what began two years ago with falling prices in the American real estate market as the biggest economic disaster since the world economic crisis of the 1930s.
This is no longer the arrogant power the world knows, the superpower that sets the rules for everyone else and that considers its way of thinking and doing business to be the only road to success.
May be the Americans begin to pay the price of their arrogant behaviour.
America looks more and more like the "bubbles" it creates.
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