[Reader-list] The death of America

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The death of America

Beneath the many garbled ways in which everyone and their daughter is
trying to explain the financial crisis, and with panic spreading at a
speed many times that of the spread of euphoria not more than a year
ago, there are some fundamental questions that need fundamental
answers.

What REALLY runs an economy ? What is the future focus for a REAL economy ?

For countries like India, the answer is simple. It needs to ramp up
its standard of living, base upwards, and concentrate on policies that
enable mass growth of fundamental sectors - food (agriculture,
processing and distribution), infrastructure (irrigation, roads,
railway), education (basic through to advanced), and housing.

For developed Europe, it is about pushing the edge on technology and
research, to elevate production to the next level of greener, more
advanced alternatives. A niche market, versus the mass market of
economies like India.

It is when we come to America and China that things get complicated.
America runs its economy on a system of consumption without value. The
mass-produced Ford over Europe's custom-made Ferrari. And the provider
of that consumption can no longer in today's globalized world be
America herself. America's deadly sin is helping nimble hands in China
shove its consumption - systemically built into the American psyche -
down its throat, and its capital out of it wallet.

America has no Plan B. Yet. It may not take too many bubbles before it
completely implodes.