Thread: How will the current global economic framework keep us from becoming a global Zimbabwe?

Can we put away the fairy tales of trickle down, free market capitalism and the invisible hand yet? The Fed has responded to the national and global economic crises by rewarding the richest of the rich who recklessly created the crises with trillions of taxpayer dollars (Obama has tapped many of them with appointments to his administration) and saved the "to big to fail" banks and corporations by allowing them to merge into bigger, less stable entities. In this system there is no competition or choice. There is only the accumulation of ever more wealth in ever fewer hands. Is personal greed really the highest virtue and the best guiding principle for our species?

It will not keep us from that, in fact that is where we are intentionally being steered by the very rich and powerful.

If people do not wake up quick it will be too late.

For one thing, our Federal Reserve can print as much money as they want and get away with it since we have no gold standard.

And as long as the US Dollar is the choice currency for all World's commodities to trade with such as oil, lumber, iron ore, gold, other precious metals, cement...etc...etc.....then there will be no problem.

You can't do the same with with the currency of Zimbabwe.

Further, if you look, this economic crisis is effecting the entire world as bad, or worse, than the US. The currencies around the world, with the exception of the Japanese Yen and the currency of Israel pretty much have gotten weaker in all of this and the dollar has gotten stronger which is mostly seen when the price of a barrel of oil goes down as it has been.

So I wouldn't worry based on the facts of the other world markets. Keep in mind, if the US and our markets go bankrupt, the rest of the World will also go bankrupt as well because other countries would have no one to buy their products or trade with and society would go back to local exchanging and bartering which would benefit no one.

The only successful way to structure a modern economy is a balance between capitalism and socialism. America is tilted too far toward capitalism, Obama is talking about tilting more socialist and mitigating greed as the highest good.

I'd need more information about Zimbabwe to respond to that part of your question but I think that without serious structural changes, in twenty years it'll be the Mexicans guarding the border against all the illegal Americans who want to land a quality job in the landscaping industry.