Is America An Experiment?

Is America an experiment? We now know that when, in 1917, communism became the system of government in Russia, it was doomed to be seen as a failed experiment.

With OPEC, China, Russia, Japan and France looking at finding an alternative to the dollar for trading in oil, it looks as if the world might be losing its confidence in Uncle Sam’s economic future.

 

If the USA is on its way out as the richest nation on earth, then it will have laissez-faire capitalism to blame for it.

 

The bankers have shown us how American-style capitalism will end. Too powerful to be reined in by politicians, the bankers will require bail-out after bail-out until American governments can borrow no more, and America is impoverished.

 

As William Jennings Bryan, Democratic nominee for the US Presidential Election of 1896, didn’t quite say: ‘You shall not crucify America upon the cross of Goldman Sachs’.

 

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Tags: confidence, politicians

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2 Comments

  1. david manners
    October 20, 2009 15:54

    OmiGod Ash, that’s awful. These guys are like pirates recognising no ethics, no allegiance to any country, no responsibility, no social awareness and no limits. Like pirates they have to be brought under the control of the law or they will bring everything down.

  2. Ash
    October 20, 2009 15:42

    The hedge funds have now turned their hands to commodities. First it was energy, oil and gold but now it’s metals and food as well.
    http://hsgac.senate.gov/public/_files/052008Masters.pdf
    As a result the US government is considering putting limits of the amount of commodity futures funds can hold. Guess what, our old friends Goldman Sachs oppose that.
    http://www.marketwatch.com/story/goldman-sachs-opposes-limits-on-commodities-trade-2009-07-29
    Meanwhile the traders are now looking into actually physically hoarding commodities, since there will be no rules on that, only in futures, where they don’t have to take possession.
    http://seekingalpha.com/article/167521-commodity-hoarding-by-funds-exposed
    Whenever the government regulates a market they move on to a less regulated one and distort that.

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