Gaijin.Cerebrio: doctrina ergo eruditio



Wednesday, December 10, 2008

#13: If you draw all the threads together, the economic crisis is really the fault of...

Today I learnt from Tony Campolo that a lot of the responsibility of the current economic crisis lies on the shoulders of the US government. For one, they are the only ones with the real authority to tell Wall Street what to do. Secondly, the country and hence the global economy which is somehow benchmarked against theirs is in such deficit because of the high cost of their ongoing military campaign. This, we have heard little about. Thirdly, the deficit keeps running because they keep buying energy from the Middle East borrowing almost 2 billion and counting from China.

Could all this have been prevented? Totally - Al Gore had already suggested US focus on energy industries instead of the real estate so that they would be energy-independent. The public chose Bush instead and the industry he backed up. Remember what they keep telling us about the economic crisis and how its really all the banks fault with the sub-prime loans? Well, who chose against energy-generating industry for real estate? And where do the sub-prime loans come from? If they were energy-independent, they wouldn't be in such deficit and borrowing and the world probably wouldn't be in such a bad state. And of course, where the WMD? The military is spending US$250,000 a minute so why are they still there when they should be helping Afghanistan rebuild itself?

Thanks for nothing.

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