Economic policies of the United States over the years of the Bush administration threaten to push the world economy into severe recession and damage prospects for solution to many of the world's energy problems. Why be optimistic about the prospects for solving the world environmental crises when the United States, which should be leading the world forward, has made such a wonderous mess of things? Most disasterous of all is the way the unfair distribution of incomes has hit intelligent and willing people who are in need of resources to participate more effectively in the modern economic age. There was a time when the Euro was weaker than the US dollar. The fact that the exchange value of the Euro has reached 1.5 should set off alarm bells that America's economic policies come from the scrap heap of economic thought. The current policies threaten stability in the world economy with a return to the beggar thy neighbour approach to macro economics of the depression era. What we are really talking about is the prospect that American economic policies are pushing the world economy towards a major depression. This is not depression by default, but an engineered depression by design. If one examines the record of the Bush administration with its focus on oil economics and politics that have thrown many progressive countries of the Middle East into an economic wasteland, one has to wonder whether the President and his men read at all. Its no excuse that other economic forces overtook the administrations policies. Its more accurate to say that the policies were deeply flawed from the get go. Lets be honest. The economic record of the past half decade has not been anything like it could have been. Bush's people have failed on science, religion, energy policy, Middle-East politics, housing, disaster recovery, interest rates and genuine home ownership instead of speculative rental ownership, inflation, genetic engineering, the search for alternative energy sources. How can anyone support such a failure of application of policy?
What is American doing now other than implementing beggar thy neighbour economics at the expense of Europe? Have these people lost their senses? Or, have they lost their sense of direction? Is policy now just a mishmash of old ideas from failed individuals, but rich ones working for their own selfish interests. Where are the genuine American statesmen?
