This is an unedited response to a featured article on Iranian.com titled Boom and Bust: It is best to read Mr. Mehrdad Emadi’s good summary before reading my response: http://iranian.com/main/2008/boom-bust
Good summary however I think this analysis is simply a summary of the superficial feed of the mainstream media and wall street while there are much deeper geopolitical reasons for the current financial environment, which had started long before Bush took power.
The policies of Federal Reserve Board as a governing financial power of the US and the WORLD (along with few other central banks) , baseless printing of dollar, the formation of European Union, export of US jobs abroad, End of Soviet Empire and cold war, Chinese elite’s entrance to the global capitalistic market , NAFTA and many other such globalizations are the results of a major shift of dominance of FINANCIAL ELITE from US and Western Europe to a borderless global elite who also now include the Oil rich sheiks of middle east, Russians, Chinese and other billionaires who no longer see their interest in the nationalistic pursuit of capital and in competition with one another, but as one global elite who JOINTLY control the financial resources of our world.
In this path former US elite no longer feel the need to have a financial hegemony but the elite of the world will. The red, white and blue have mixed with the green, yellow and others and an American citizen is no longer more important than a Chinese or Arab as far as they are concerned. Wherever there are more opportunities to PROFIT is where THEY will be or already are! Obviously the greed will create frictions among the elite too but no longer at the cost of jeopordizing their own wealth. After all they enjoy each others company in yachts and glamerous private gatherings more than the company of the THE PEOPLE. The political and religious leaders have always been the tools of the few to control the masses and they will continue to serve their purpose or forced to be changed as needed! The Media is the new tool of the new world order and not tanks.
The matured Western economies with legal, labor and environmental restrictions no longer provide the same opportunities for the rich elite as the newly formed middle classes of South America, Asia, and Middle East and in this process we will continue to see a shift of economic power to those areas where the investor capital will also follow.
Therefore the current economic problems were not a surprise WHATSOEVER to many but an intended outcome of creating more stable and fertile worldwide grounds for new horizons for creation of wealth for a very limited few who control the financial markets of our planet and therefore in charge of the new world order.
The concept of one world government has already been formed financially and the political process is in the works too.
This is not a conspiracy theory but a factual observation based on what has already happened!. The drop in value of real estate and equities or the recession will only hurt the middle class but it does not effect the elite and actually provides opportunity for those who have unlimited cash reserve to acquire the assets of the middle class at substantial discounts, not to mention that Americans have been rubbed of the value of their assets simply by intentional Fed sponsored drop of dollar. The current US deficit and payment of interest by the tax payer to the elite is also serving as this shift of wealth from the middle class to the few.
The beneficiary of wars such as Iraq have been the elite but the ones burdening the costs will remain to be the taxpayers soon.
The next rounds of these shift will be served by increase in taxes as well as possible bail outs to be formulated by the soon to be democrat US president.
What one hears on those such as CNBC (owned by GE), the elite and corporate controlled major media may only be what they want us to hear and believe. The newly acquired wall street journal owned by Newscorp, the soon to be centralized stock market with mergers of the exchanges (eg: NYSE/AMEX ) and the formation of International Equity and Hedge Funds, the congressional approvals of the homeland security and wiretapping etc etc are all playing a role in the centralization of power at the cost of loss of individual economic and political liberties.