Page 1 of 3 123 LastLast
Results 1 to 10 of 21

Thread: America Compared to What?

  1. #1
    Administrator
    k98k792's Avatar
    Join Date
    Mar 2007
    Location
    On the edge of reason
    Posts
    4,686
    Rep Power
    416

    America Compared to What?

    From Real Clear Politics
    http://www.realclearpolitics.com/art...d_to_what.html

    America Compared to What?
    By Victor Davis Hanson

    After the September financial meltdown, many abroad, and some at home, immediately -- and with undisguised glee -- blamed America's problems on cowboy excess and forecast the end of American global influence.

    But while those opportunistic critics had a point that reckless Americans had taken on far more debt than they should, the growing global economic downturn may well hurt others far more than the United States.

    We got into this mess not because the American political system was flawed or because its free market system was stagnant. The problem was that after some six years of uninterrupted growth, human greed drove us to demand even more than we had earned.

    Republicans let fast-talking Wall Street gurus gamble their firms into oblivion. Democrats allowed politically correct Fannie Mae and Freddie Mac bureaucrats to siphon off bonuses while guaranteeing loans to millions who had no business taking out a mortgage.

    We, the people, ran up credit cards, borrowed for overpriced houses and drove gas-guzzling cars fueled by high-priced imported fuel. The result was a national-debt flu -- but not a depression cancer -- that sickened an otherwise healthy host.

    Why then would America in recession still be in better shape than others?

    First, oil prices are crashing. That will soon save us hundreds of billions in imported-fuel expenses -- while denying our overextended enemies in Russia, as well as in Iran, Venezuela and others in the OPEC cartel, half of their accustomed cash to cause trouble.

    Meanwhile, the U.S. is increasing natural-gas production; is likely to increase drilling offshore; will all but certainly soon build more nuclear power, wind and solar plants; and is sitting on the world's largest coal reserves. A new generation of hybrid, electric and flex-fuel cars are on the horizon that could even shave off more from our imported-fuel bills.

    Second, we are already way ahead of the rest of the world in dealing with toxic debt. Western Europe is discovering that its banks lent more against their reserves than did their American counterparts. European real estate was often more inflated than our own. Bankers in Frankfurt, London and Paris are looking at trillions of dollars in uncollectible Euro loans throughout Latin America, Asia and Eastern Europe. Most of our toxic debt was at least owed as mortgages by fellow Americans; far more of Europe's is owed by those outside the European Union.

    Even when the United States is reeling from financial panic, foreign investment continues to flow into America; the dollar, meanwhile, is climbing against the Euro. China's export-driven and Russia's energy economies are in crisis. They may have hundreds of billions in dollar reserves, but as the world energy and consumer economies slow, both countries lack our institutions, infrastructure and broad flexibility to easily rebound.

    Third, the United States is still growing as the population of Europe shrinks. The populations of Japan and China both age at a faster rate than America's does. Russia faces the perfect storm of a declining, aging and increasingly unhealthy population. The result is that America can much more easily grow itself out of a housing glut.

    Fourth, the war in Iraq is no longer even a war in a traditional sense. Four times as many Americans were murdered just in the city of Chicago at peace in July than all those Americans who were killed in Iraq at war in the same period. The cost of deploying American troops in Iraq is nearing the expense to station them elsewhere abroad. As Iraqis continue to take over additional provinces, the American presence will further shrink.

    There are also long-term reasons to believe the United States will better weather the current storm. We are a transparent society that blares out problems, affixes blame and then fights publicly over solutions. Japan's real estate meltdown of the 1990s took years to correct, given the emphasis on secrecy and shame within Japanese financial circles.

    The 50 states of a federal United States -- some of them individually among the world's top 20 economies -- are also far better integrated than the 27 countries of the European Union. American banks are subject to uniform national policy and are forced to act in concert. In contrast, British, French and German lending institutions are often unwilling to bail out other countries, and compete with each other to attract scarce capital in times of crisis.

    The United States military remains far stronger -- and more battle-hardened -- than the rest of the world's armed forces combined. Rogue nations and terrorists try to take advantage of economic uncertainty, but America remains the best-defended democracy in the world.

    The current financial crisis has startled America from a hypnotic trance of self-indulgence and irresponsibility. But as we return to American fundamentals, we may discover that our political, social and economic system -- despite all the current election-cycle hysteria -- is still by far the most resilient in the world.

    How odd that it took a financial catastrophe to remind us of that.

    Victor Davis Hanson is a classicist and historian at the Hoover Institution, Stanford University, and author, most recently, of "A War Like No Other: How the Athenians and Spartans Fought the Peloponnesian War." You can reach him by e-mailing author@victorhanson.com.
    " Little by little the look of the country changes because of the men we admire. "


    HANG IN THERE
    WE'LL BE BACK!

  2. #2
    Veteran Genocide's Avatar
    Join Date
    Mar 2007
    Location
    Fort Worth, Texas.
    Posts
    271
    Rep Power
    151
    Thank you, good read. I'm going to pass this on.
    The Constitution shall never be construed... to prevent the people of the United States who are peaceable citizens from keeping their own arms.
    -Samuel Adams

  3. #3
    Senior Veteran Allwater's Avatar
    Join Date
    Mar 2007
    Location
    Arlington, WA
    Posts
    461
    Rep Power
    158

    well put...

    good post... From a simple "us vs. them" perspective, it's true: We are resilient and can bear the weight of these mistakes - mistakes that could have crushed lesser countries.

    And it's not by mistake or just luck...

    I imagine, regardless of the outcome of next weeks election, as we climb out of this "recession", we will hear from the liberal media how "lucky" President Bush was and how it could have been soooooo much worse... and there will not be one mention of the stimulus checks... anybody wanna take that bet??? hahaha
    Last edited by Allwater; 10-30-2008 at 06:13 PM.
    "A free people ought not only to be armed and disciplined, but they should have
    sufficient arms and ammunition to maintain a status of independence from any
    who might attempt to abuse them, which would include their own government."
    George Washington

  4. #4
    Patria Povo's Avatar
    Join Date
    Mar 2007
    Location
    An Australian Texan
    Posts
    3,251
    Rep Power
    245
    Quote Originally Posted by Allwater View Post
    there will not be one mention of the stimulus checks... anybody wanna take that bet??? hahaha
    Yeh, I don't think anyone is going to be thanking Bush Jr for anything much .... ever!
    Royal Australian Army Medical Corp: We Bury Our Mistakes!

  5. #5
    drine's Avatar
    Join Date
    Mar 2007
    Location
    Mt. Airy, Georgia
    Posts
    4,653
    Rep Power
    212
    I had to read it twice but finaly got the point that the writer realized there are problems but they are not that bad. Since nothing is perfect hopefully this downturn in the economy will point out the chinks in the armor of capitalism. Hopefully the powers that be can fix it better. Greed surely should be God's least favorite sin. The writer seems to grasp that no one is innocent in this mess.
    This makes me a bit ashamed that I want a Garand right now and have the paperwork signed and sealed. Do I really NEED it?
    Still, I can't shake the thought that no matter what anyone says, I feel like a puppet on a string. Those who hold the strings can make us dance at will...........
    It always looks darkest.....just before it goes totally black.
    COG# 11M1P

  6. #6
    Planning's Avatar
    Join Date
    Mar 2007
    Location
    REPUBLIC of TEXAS
    Posts
    8,285
    Rep Power
    633
    Quote Originally Posted by Patria Povo View Post
    Yeh, I don't think anyone is going to be thanking Bush Jr for anything much .... ever!
    guess what, you are correct about "I DON'T THINK", BUT "YOU ARE WRONG ABOUT THE OTHER".

    I THANK HIM OFTEN FOR HIS 8 YEARS LEADERSHIP OF THIS COUNTRY.

    usually the bad mouthing comes from the ill informed, a democrat, or someone who has live in a foreign country most of there life, or still lives there. where do you fit.
    i feel history will be kinder to "W" than most presidents have been.
    31B

  7. #7
    pigpen's Avatar
    Join Date
    Mar 2007
    Location
    Wretched Hive of Scum & Villainy
    Posts
    1,754
    Rep Power
    167
    Quote Originally Posted by Planning View Post
    guess what, you are correct about "I DON'T THINK", BUT "YOU ARE WRONG ABOUT THE OTHER".

    I THANK HIM OFTEN FOR HIS 8 YEARS LEADERSHIP OF THIS COUNTRY.

    usually the bad mouthing comes from the ill informed, a democrat, or someone who has live in a foreign country most of there life, or still lives there. where do you fit.
    i feel history will be kinder to "W" than most presidents have been.
    I'll have to agree with you Planning. In 10 years or so I think a lot of people will realize he was better than they thought he was. He is no Reagan but he is better than Carter by a country mile.


    I'm like a pirate:Always look'n fer Booty!

  8. #8
    Senior Veteran cfish's Avatar
    Join Date
    Jun 2007
    Location
    Eastern, NC
    Posts
    1,943
    Rep Power
    167
    I hope you aren't implying this mess is all Bush's fault!!! Cause if you do I have a bridge to sell you!!!! LOL


    COG#1963

  9. #9
    Patria Povo's Avatar
    Join Date
    Mar 2007
    Location
    An Australian Texan
    Posts
    3,251
    Rep Power
    245
    Quote Originally Posted by Planning View Post
    guess what, you are correct about "I DON'T THINK", BUT "YOU ARE WRONG ABOUT THE OTHER".

    I THANK HIM OFTEN FOR HIS 8 YEARS LEADERSHIP OF THIS COUNTRY.

    usually the bad mouthing comes from the ill informed, a democrat, or someone who has live in a foreign country most of there life, or still lives there. where do you fit.
    i feel history will be kinder to "W" than most presidents have been.
    Meh, even his own party are falling over themselves to prove their credentials as the most anti-Bush. He is also THE most unpopular American President ... ever. Its not just the world that dislike him, most Americans do, too.

    Perhaps Bin Laden will remember him fondly - as the man who went chasing non-existent Iraqi WMD rather than pursuing Al Qaida in Afghanistan and Pakistan.
    Royal Australian Army Medical Corp: We Bury Our Mistakes!

  10. #10
    Senior Veteran Nazgul's Avatar
    Join Date
    Mar 2007
    Location
    Minocqua
    Posts
    840
    Rep Power
    162
    Actually if Truman had the news media of today he would have been the most. When Truman left office he couldn't buy a friend. History was kind to Truman and the same will be said of Bush. Bush has lead in a time when the house and the congress would rather just ignore the jihadists, the economy, and heck your average US citizen.
    Last edited by Nazgul; 10-30-2008 at 09:15 PM.

Similar Threads

  1. Hello from Central America
    By b2jake in forum Introduce Yourself
    Replies: 21
    Last Post: 03-31-2010, 09:39 AM
  2. My America rant!
    By fal_762x51 in forum Current Events/RKBA
    Replies: 21
    Last Post: 04-02-2009, 03:30 PM
  3. Only in America
    By rifleman in forum General Discussion
    Replies: 9
    Last Post: 09-18-2008, 10:12 AM
  4. The Dumbing of America
    By k98k792 in forum General Discussion
    Replies: 15
    Last Post: 02-19-2008, 11:06 AM
  5. Go Miss America
    By bullseye in forum Current Events/RKBA
    Replies: 6
    Last Post: 04-23-2007, 08:21 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •