America: Loser in the Post-Capitalism World
Aftermath of the Bush Presidency and Criminal Activity by Congress
Oct 19, 2008
America was held in high esteem after successfully defeating Hitler in WWII. When the Berlin Wall came down, the United States was given credit for influencing East Germans to rebel against Communist control. Now in 2008, its leadership, both the President and Democrat and Republican Congresses, are being ridiculed among the nations that once admired it.
Bush Presidency Finale
The Twin Tower attack on 9/11 brought an outpouring of sympathy and support from most developed countries. However, after the invasion of Iraq on the disputed claim about "weapons of mass destruction" these nations were divided, some supporting Bush in some small ways, especially British Prime Minister Tony Blair. Today, in 2008, according to Der Spiegel (9/30/08), not only is Bush not taken seriously, but he and America no longer have the necessary respect to lead. His recent speech at the United Nations made him a laughing stock in some quarters.
Congress' Criminal Activity
The banking crisis has brought to the forefront the "behind the scenes" activities of members of Congress as evidence of committee chairmen who took huge financial contributions from the very corporations, such as Fannie Mac/Mae, that were supposed to oversee their activities. According to the AP (9/19/08), the list of those who took the most money include:
- House Minority Whip Roy Blunt, R-Mo., $78,500.
- Sen. Robert Bennett, R-Utah, Senate Banking, Housing and Urban Affairs Committee, $71,499.
- Rep. Spencer Bachus, of Alabama, House Financial Services Committee, senior Republican, $70,500.
- Senate Majority Leader Harry Reid, D-Nev., $60,500.
- House Minority Leader John Boehner, R-Ohio, $60,500.
- Sen. Christopher Dodd, D-Conn., chairman of Senate Banking, Housing and Urban Affairs Committee, $48,500.
- House Speaker Nancy Pelosi, D-Calif., $47,000.
- Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, $30,500.
The Center for Responsive Politics, using Federal Election Commission records, show that FannieMac/ Mae's PAC total contributions to congressional races this election cycle through June 2008 are:
- House: Democrats, $275,950; Republicans, $257,850.
- Senate: Democrats, $82,500; Republicans $83,500.
- The corporations' lobbying expenses in first half of this year, $7.4 million.
The Federal Bureau of Investigation (FBI) has begun the biggest criminal investigation in American history, looking at 26 large financial corporations, 1,400 smaller companies and others for possible fraud violations.
America's Banking Crisis
The banking crisis in the U.S. has shaken many things around the world, not only the affection once held for America, but also the respect that was once held for it as an economic and political superpower. According to Der Speigel , this has been brought about by the deregulation that caused the collapse of once highly regarded financial institutions. In addition, the real estate market problems are now being called the biggest economic disaster since the 1930s.
What is considered the most ironic around the world is that in the country most known for its unfettered capitalism is now intervening in the economy on a scale not seen since the Great Depression with billions of dollars being used in an attempt to save the financial sector from failing.
America Standing in the World 2008-2025
The "Global Trends 2025" report, prepared by analysts at the National Intelligence Council, points to "the erosion of American supremacy in the area of politics and economics, and possibly culture" Chairman Thomas Finger states that, "Although the United States will remain the most important power, America's dominance will be sharply reduced." It is the biggest loser in the post-capitalism world.
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