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Many Americans gave up hope last year – 2012 will be worse - Printable Version

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Many Americans gave up hope last year – 2012 will be worse - Solve et Coagula - 02-15-2012

Many Americans gave up hope last year – 2012 will be worse

by Joseph Stiglitz

Joseph Stiglitz comments on the recent woes of the U.S. economy, which came as a rude awakening for the apostles of the "American dream." It is thanks to the special status of the dollar that Washington still enjoys an authority disproportionate to its objective economic capacities. So far, the U.S. military managed to deter any challenge to this privileged status. Nevertheless their position is eroding, both morally and militarily, in the face of emerging powers. Accordingly, the double veto by Russia and China on 4 February rang like a wake-up call back to reality. A rebalancing is inevitable, and it is the geopolitical impact of this economic readjustment that we have to brace for in 2012, according to the Nobel Prize in economics.

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http://www.voltairenet.org/Many-Americans-gave-up-hope-last


RE: Many Americans gave up hope last year – 2012 will be worse - icosaface - 02-15-2012

Rigging economies to deal with climate change will kill them, carbon credits are good for sucking money away from the working class and giving it to the ruling class. Carbon credit schemes stop some pollution effects by shutting industries down but they do nothing for making economies more robust. Look at Australia, are they better off with their carbon credit scams?