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Many Americans gave up hope last year – 2012 will be worse
02-15-2012, 09:48 PM,
Rainbow  Many Americans gave up hope last year – 2012 will be worse
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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02-15-2012, 10:48 PM,
RE: Many Americans gave up hope last year – 2012 will be worse
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?
An error does not become truth by reason of multiplied propagation, nor does truth become error because nobody sees it.
Mohandas Gandhi

Each of us is put here in this time and this place to personally decide the future of humankind.
Did you think you were put here for something less?
Chief Arvol Looking Horse

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