Add to the bleaker picture - US economy.

Submitted by Syed Kasim (Canada), Oct 12, 2007 at 02:34

Add to the bleaker picture - US economy.

How long can the America support Israel with its UN veto power. When money goes off, everything goes off. Today's America is not even closer to the one when it was at its peak (in 1980's). American economy was 32% of the world economy in 1980's. Now only less than 20%. Its currency went down by more than one third in the last 5 years. And still the dollar is the oil currency. When it loses its value still more, the oil currency status will be gone. Then there will be steep decline.

And the US national debt doubles in the Bush's 8 years ruling. There were days economists could think that just by flooding the foreign money as debt into American economy, make the debt look smaller as a smaller percentage of a bigger economy. That was possible when giant economies of China and India were crawling up to 1980s. Now those economies are running with almost zero debt. When we consider the university graduate outputs in the disciplines of Engineering and Finance professionals combinedly, India was number one, China number two and the US was number three in 2003.

So, after 10 more years American hands will shake to use the UN veto power in support of Israel against almost the whole world. When money goes off, everything goes off. Russia is in the same status now. Before end of cold war Russia was the one to use the UN veto power the most.

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