The house of cards are a tumbling.

“We’re in a serious economic crisis,” Mr. Bush told reporters as the meeting began shortly before <?xml:namespace prefix = st1 />4 P.M. (25th September 2008). in the Cabinet Room, adding, “My hope is we can reach an agreement very shortly.” 

 

Of course the required $700 billion bailout would be offset by the tax payers. This obviously would be a very hard thing for the present US administration to get backing from its own Republican Party let alone the Democratic Party; in fact I would say impossible. 

 

The world has become a credit based society that is basically going to fall at its seams, the mortgage financial empire are not only having problems in USA but in Europe also UK is on the verge of bailing out the companies that have a Hugh problem there also.  

 

The present financial problem is not just an American thing its global I expect to here bad vibe’s on the Asian market also. US debt to China is still swelling and USA looks like its going into a recession that going to be very hard to get out of. The dollar rates will crash affecting the World’s monetary system. If this starts to happen countries will swap to the Euro dollar, as there will be less problems on the European market place. But of course EU will have its own problems but the recession there will be much less minor.

 

Money is the power and the empire with the largest amount can and normally becomes the superpower. We are now seeing the beginning of a swap of power to Europe the new world is floundering in its own greed. President George Bush has led USA into a financial collapse the oil wars in Afghanistan have drained some of the last dregs. Investments in the past wrapped around cheap labor in China back in US history, are also tightening and squeezing on the US economy. However we can not blame President Bush for that but we can blame his puppet masters the corporate entities of the US capitalistic society.

 

USA has been heading for such a crisis for along time now like many empires within the folds of history its collapsing through greed, corruption, bad management and to many wars.  But USA could last a bit longer struggling to fix the holes, if so we are seeing the beginning of the end as it would take a miracle to get out of this economical problem completely. In my opinion EU was created on the idea of taking over when USA tumbled and the American dream went sour. .