Thursday, October 23, 2008

While We Were Sleeping

Canada and the EU have begun working on a "free trade" agreement which would include the free movement of workers and reciprocal recognition of professional licenses and India is actively pursuing free trade agreements with both Japan and China.

Just in case anyone was still confused enough to believe that our current financial crisis would be resolved with a return to "business as usual", that is simply not going to happen.

I realize this hasn't gotten much (um, try any) media attention what with oh-so-much-more weighty matters in the headlines like Sarah Palin's clothing budget and what the latest ill thought out remark Joe Biden just made but in real-world terms this is likely to have a whole lot more impact on all of us than either of the above. I'm not going to waste anyone's time writing a thousand word essay on why this is relevant to us, a simple look at who buys our goods and who sells us goods and some basic mathematical calculations ought to make it all crystal clear to everyone except maybe Ron Paul and Dennis Kucinich.

The days of the US dominating the world economy are done, we screwed the pooch on that one and frankly there is absolutely nothing we can do to change that. So what's left? Try for a seat at the table. A little humility could go a long way here folks.

There is the big question: are we going to start dealing with reality or are we going to continue pretending we are the lords of the universe in spite of all evidence to the contrary? I hope for all our sakes we choose the first option. Or we could just become a giant tax-haven destination offering fine restaurants and cheap real estate to the rest of the world. You choose.

Just something to think about.


ryk said...

This is yet another reason this presidential election is so important. I doubt John McCain even knows the meaning of humility. If he wins, he'll try to solve our economic problems militarily. It'll be a catastrophe.