Monday, 7 December 2009
It was not just the arrogant incompetence of G.W. Bush.
There was no way that America could prosper while paying for the defence of Europe and Asia for the past 60 years. Had the US, like China, ploughed it's money into industry, instead of the defence of others, it would not be about to be overtaken economically. True, it could be argued that - by buying American debt - it was actually China and OPEC that paid for the defence of Europe and Asia. But the USA still has to repay that debt, so it's economic fall is inevitable.
There was no way that America could prosper while paying for the defence of Europe and Asia for the past 60 years. Had the US, like China, ploughed it's money into industry, instead of the defence of others, it would not be about to be overtaken economically. True, it could be argued that - by buying American debt - it was actually China and OPEC that paid for the defence of Europe and Asia. But the USA still has to repay that debt, so it's economic fall is inevitable.
# posted by Had It in Holland Park @ 09:09 
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Financial inevitability had_it wrote: Monday, 7 December 2009 at 04:40 pm (UTC)