Russias pres.Medvedev questions U.S. role in global economy

Discussion in 'Current Affairs, News and Analysis' started by KGB_resident, Jun 7, 2008.

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  1. Yes

  2. Rather yes

  3. Rather no

  4. No


  2. Well, the IMF is increasingly being told to poke it in the developing world - Angola was the latest one IIRC.

    There was always going to be a point where no one nation could underwrite the world economy. If we haven't already reached it, it'll happen soon. Too many people acquiring something vaguely approximate to a western standard of living.

    The US is just going to have to accept that it isn't the only game in town, anymore.
  3. When the twenties crash happened the US was already in effect the lead financial power in the world.
    The crash affected the whole world including America itself.
    But still America was the dominant power so it re ordered the international financial world itself and the world followed

    Now when things go kaput as they shortly soon will, America that is anyway losing its dominance will be beholden to the newer powers who will demand a say in how the new order will be so shaped.

    We live in interesting times and sometimes interesting times can become rather too interesting for comfort.
  4. Isn't it a Chinese curse: May you live in interesting times? :)
  5. Sergei, did an American once kick your dog?
  6. No.
  7. Sure is my man.
    But the line I used was a nick from one of your own writers Gore Vidal.
    Come to think about it, should have put quotes around it rather than try and pass myself of as clever. :D

    But Virgil, I feel sorry for you Americans. I think the end of the Age of Consumerism is coming. And its coming fast.
    I think that once big wide wonderful world of yours is going to be reduced to a shriveled tightly controlled 'Homeland', for which already a ministry is in place to manage and oversee it. America is going to resemble Marion Fed Pen during lockdown before much longer.

    Around 2001 Cheney bought a large house just across the Potomac. He had it pulled down. Right now he is building a large bungalow there.
    Sounds just the kind of place for a man with a dodgy ticker who doesn't need stairs but has no intention of leaving Washington DC in the foreseeable future.
    So if you know whats good for you, you keep that lapel pin polished and shiny now or the men from the department will want to know why. :D
  8. I work in the economic field and pardon me if I'm not exactly holding my breath for reasons I've stated in several threads. I have a background in economics and work in the international trade field; I've seen and know real economic arguments versus media hype.

    Frankly since I can recall the end of the US economy has been predicted over and over and over again. Again, not holding my breath.

    Having Medvedev lecture on economics is a bit like having the president of the Dutch Tulip association lecture on economic strategy in the early 17th century. :wink:
  9. Virgil, pride comes before the fall. But since a Russian kicked your dog once, I understand your huffishness. :p
  10. There's a world of difference between predicting the collapse of the US economy and stating that there's another system functioning alongside free-market capitalism again. That the US economy doesn't enjoy as dominant a position as it did 15 years ago seems pretty clear to me.
  11. Say Virgil, thats just the self same words a mortgage adviser used when he sold a mate of mine a three bed house in a run down Med Way town in England just before Xmas.

    I've been in two minds ever since whether I want to kick the adviser's arrse all the way down the street or my idiot mate's for being such a prat as to buy his first house at exactly the wrong time in all of human history. :D
  12. There is absolutely no chance that the markets are going to start selling in roubles so no. US dollar hegemony is here to stay for at least a while yet. For instance the dreaded Iranian Oil Bourse has been open for a while now and America isn’t collapsing from its effect.

    If you are looking for a currency for your country to sell in, then it’s the Euro not the rouble Nobody is really going to keep roubles for currency stability because they are useless at the moment and will remain so until Russian money is a real force and your economy is stable. George Soros doesn’t like the Russian markets. Grabbing back your assets through the courts is not helping your trust ratings. Even the Iranian Bourse is refraining from dealing in crude for now.

    At the end of the day Russia will need tanks to match what the French are now describing as the American Hyper Power. China and India are the next in line and they are both in no mood to upset America.

    Sorry mate but your Russian wet dream will need some more sleep.
  13. Nothing like a wet dream! Not that I would know. :D
  14. According to jonwilly's simple view on life,
    I blame King George II, no need for His War on Iraq.
    Pointless war, US economic effort diverted for unnecessary reasons.
    And he forgot the advice offered to his Papa
    It's the economy Stupid.
  15. Ok tell me why the rouble stands in a better position to beat the Euro as a replacement to the Dollar? Larger more populous market? No. More mature and stable market?

    We may be looking at some countries selling in a basket of currencies, but while the West and the IMF are dealing in Dollars, Russia is not going to make a difference.