To: bacchus_ii who wrote (276560 ) 4/23/2006 3:55:35 PM From: tejek Read Replies (1) | Respond to 1. Crisis of confidence in the Dollar Confidence with the dollar : serious problem; however, I would think that would be more country specific.......that it would hurt the US more than anyone else. When the yen went into its dive during the 1990s, it was Japan that got into trouble, not the rest of the world. Obviously, the dollar carries more weight than the yen but back in the late 1980s, the yen was a significant world currency. The Iranians notwithstanding, I don't think there will be a quick move from the dollar to the euro but rather a gradual one. I believe those in charge will do what they can to prevent the world from plunging into a serious depression and will take whatever steps necessary to keep that from happening. However, the long term prognosis does not look good for this country if we don't elect a better quality of leadership in the future. And we will pay a price for our stupidity......no question. Bush has been a disaster.Financial imbalances .......its a mess and it scares me but I don't think anyone here is really addressing the issue.Oil Crisis : That continues to happen but the increase in price has moved in an orderly fashion over the past two years. There is a belief that if it gets too high, the world economy will go into recession. Few want that so I suspect there will be some effort exerted by the oil producers to prevent it from happening.Crisis of the American leadership : Americans are finally waking up to the what they put into office. Finally, change is starting to happen. I suspect the playing field will be leveled considerably in the next election. Assuming that happens, the GOP will have to stop behaving as if they are only accountable to God. Is it too late? I hope not.Crisis of the Arab-Muslim world : yup.........that's true. Bush got that one going and now the Arabs will have to deal differently with their problems. Can't predict the outcome of that one.Global governance crisis : I don't know what they mean by that. There has always been a global governance crisis. What's changed?European governance crisis : I don't know......I know the EU has hit some speed bumps but isn't that expected. The EU is a huge enterprise.......in fact, a remarkable one. I think there should be some expectations that there will be some serious leadership problems........and just problems in general when integrating 25 nationalities and many more ethnicities into one cohesive political unit. I think it may be another generation before the EU is truly functioning as one political unit.
