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The self destruction of a superpower
Preface to of America suicidal government ability
“Civilizations end by suicide, not by murder”
Arnold J. Toynbee
When Neil Armstrong set first steps in July 1969 its on the moon, its large jump for mankind was a singularly American achievement. American vision and management, American science and technology, American financing and investment, American capability and care, American will, planning and devotion had achieved, what with join and right can be called the most outstanding human achievement of the 20sten of century - perhaps all times up to then -. America and the Americans stood as only country and as an only people there, to which this could succeed that.
But this event came to one time, when American power, as since that time past years showed more and more, had begun to decrease.
In the review the peak point of human achievement was also the peak point of American power.
In the same month, as a harbinger of the American fall, the Federal reserve board of the USA increased the American interest rate drastically. Thus one should at that time in the middle become “fought” in the cold war and that immensely hot Viet Nam war comparatively mild inflation. In its effect this simple measure of the economic policy of one era set an end, which had led up to then to ever more spectacular achievements of the American people and its governments.
From this time on the race in space and much that was connected with it, were suspended or gone back. The Apollo missions were terminated. Since that time more than three decades passed and the Viet Nam war and the cold war are history. The size of however the American vision faded, is it for the journey to the stars or for the implementation of human efforts here on earth.
In August 1971, only two years after the walk on the moon and the simultaneous increase in interest tore up the Nixon government the connection dollar to the gold. „The gold window “of the International Monetary Fund was closed. After a quarter century of its existence the IWF stopped supervising the currencies of the world adjusting and stabilizing. Free floating was permitted to the currencies. Some currencies were allowed to vary from now on freely in conformity with the handels and money stream, some other against it less freely as members of a group of currencies or than appendages of a larger currency, usually coupled to, but the still strong dollar losing at value.
One month before Nixon „the gold window “, had its national security advisor Kissinger in Peking a sensational attendance closed abgestattet, which preceded further from Nixon a themselves in February 1972. Between these two attendance the general assembly of the United Nations debated a further mark whether either Peking or Taiwan the seat of China and thus, more importantly still, which a permanent member in the security council should take. This mark votierte the general assembly for the People's Republic, whose government transferred finally, 22 years after the seizure of power, their it being entitled seat in the United Nations and in the security council.
It was a heroful victory for the People's Republic. In the same moment, while the stagflation spread and after the gold window had been closed, a still larger victory in the working places became and Kontors of the economic and financial world prepared for the People's Republic. In the course of the time the increases in interest became by the FED 1969, which closing the gold window 1971 and the economic and financial developments exerted by it in a fundamental transformation of the world-economical environment, which balance not only the economical, but also political and strategic power affect.
After the first oil shock the seventies at their end brought still another second and larger oil shock to 1973 with itself and saw a still sharper inflation of the consumer prices, particularly - however not only - in the United States. The inflation reached a peak value 1980 with 13,5%. Whereupon the FED answered with a point interest rate of 18%. It is fascinating that this coincided at the same time with Deng Xiaopings proclamation of a new and intensified capitalistic economic policy for the People's Republic of China. Deng announced, China the Japanese model will follow. “To become “, he added realm, “will be wonderful.”
To attain although it could not know the marvelous potential at that time, it had put on Deng on it, the full, although unintentional co-operation of the United States with the reaching of its economic goals - for “”. For the 70's until today the American policy is aligned constantly to develop the economic strength of China and other countries of Asia fast and substantially. At the same time however the same politics led to a steady discharge of vitality from the American economy.
After 1982 the inflation in the USA sank normal level, which came Reaganomics into mode and the United States began to provoke the ailing Soviet Union with the production and innovation strength of their economics and the strength of their military technology ever harder. With less dramatic echo in the hinterland of Hong Kong industrielle was developed an infrastructure, on which ever more factory buildings were pulled up. A production came on the way, which should supply the markets in all world at the given time - inclusively and particularly the enormous consumer markets in the United States.
The inflation in the United States remained continuously absorbed, while the oil price stabilized. From a point price of 800 USD per ounce, at which the gold 1980 was high-shot, the gold price fell 250 USD. On the other hand the irregular commercial surplus of the USA transformed in the sixties over the majority of the seventies into deficits. In the eighties the deficits continued to rise each year and became finally chronic. The Reaganomics and the challenges of the cold war let the budgetary deficit of the USA increase also. Although this remained to a large extent unnoticed in the public, the problem of the inland inflation was solved by (approve of) the offer from overseas. The countries, those for this offer ensured - and China thereby in ever more strongly growing measure - held their income as dollar reserves and rendered thereby crucial support for the reconciliation of the American handels and household deficit.
This decade of the 1980er years was a time of the increasing economic and financial imbalance, but at the end of this decade the implementation of the political and strategic goal of the United States was reached: the Soviet Union broke down and concomitantly the Soviet realm. The satellite states became free and the USA became the only, unquestioned superpower.
Nevertheless again some rather positive trends disturbed by other developments, which carried out themselves in the background. From the status of the largest creditor nation the USA slid ever more deeply into the condition of the indebtedness. In the late eighties - while at the same time the Soviet Union was in the death fight - the United States exceeded the border of the terrain of the net creditor to that of a net debtor.
More than one decade had supplied Japan and the again industrialiserten asiatic tigers the American consumer market long before. Turned around the fall of the American industrial production began. The new industries of Asia took over this production and manufactured ever more complex products with rising quality for the American like the world market. Now also the acceleration industrial development in China began, and with the continuation of the nineties it consolidated itself approximately along the Pacific coast for the supply of the foreign markets around the world.
In the 90's flickered in the USA for a set of years as as the innovative and business gloss of its time of the risk capitalism. The stock exchanges boomten, enterprise founders collected over night fortune in, material investments came again to the course and returned to parts of the economy approximately old Vitalität: The budgetary deficit transformed for three years, 1994-97 into a surplus, even the commercial balance sheet remained a time long in its chronic downward movement.
Then again everything broke down.
Too much air had blown up too many market blisters. The underlying trends of the material investments, of productivity and production proved as too weak. The stock exchange courses broke down. The plant investments sagged. Financial capitalism and the misalignment of the inland inflation into foreign trade deficits drove the United States ever more deeply into the national indebtedness and forced the households to ever more excessive borrowing to the maintenance of their consumer standard. Ever began more people to along-pass on failed with Finanzpapieren in a play with which - by such Obsessionen like free markets, privatisation and globalization - which had become American and the world economy the field for speculation, to a world-wide casino.
By the world strongest creditor the United States became now ever more decided the world largest debtor. In the year 2005 the national debt amounted to 8 trillion USD - approximate 60% of the gross domestic product -, about which 40% were held by non--residents, among them governments and central banks abroad. The indebtedness of the households amounted to 2 trillion USD. The total indebtedness of state, enterprise and households resulted in summed up approximately 41 trillion, after some computations even 49 trillion USD. According to data of the office for US treasure president Bush had collected in the five years of its term of office more money borrowed than all presidents before it. The forty-two presidents before him had credits with altogether 1.01 trillion USD, which Bush government against it alone between 2001 and 2005 with 1.05 trillion USD taken up - an all time record, which is called it however still with a rise, then, by 1 trillion USD every eighteen months constantly is exceeded. The only although ambiguous tröstliche consideration for this means that these joint and several debts with the decrease of the actual value dollar are also constantly reduced. Turned around however to the ernüchternden prospect that the value dollar ever more into Auszehrung purges, probably even particularly accelerated in relation to the commodity values of gold, oil leads and and other raw materials.
With an indebtedness, whose order of magnitude only few from us can imagine, with ausufernden commercial balance sheet deficits, with a purging industrial sector and an inconsiderate decrease of the range of the qualified workers, with a firm practice, to which traditional orientation at material investments, productivity and production got lost in favor of of „owner shank “and speculative enterprises, the United States seem to precede immediately on the way to the ruin. The unaussprechlichste of all economic crises - with a multiplicity of topics, criteria and complex effects - seems in only small distance this way to threaten on which we is now. If it overtakes us, a chaos and a misery will meet the American economy and the American people, against what the large depression of the 30's would be only a pale Vorahnung - and it will still longer persist one decade or.
But this threat goes far more deeply than only this prospect. The United States are not only as one in the horde/hurdle part of these Malaise, which add to everyone in the world. Some other, particularly anglo-saxon countries, have similar problems. But while these and the United States are gestrauchelt, some other countries obtained unexpected progress with the development their managing and increased thus its influence and its power within jedwedem range - economically, culturally, politically and, completely particularly worrying, strategically. The United States organized both their own fall and the ascent of those countries, which as their actual or possible rivals can be regarded.
Among them is China, which up-worked itself in the last two decades in the order of rank high-successful managing so far that it ranks now among the five largest national economies. Perhaps only the USA, Japan, Germany and Britannien still rank before the awaking giant. If one charges for the large differences of the growth rates, China will assume very soon third rank and will not overhaul few years after also Japan, the country, which had selected itself Deng 1979 as model. Only the United States the place before it to hold, assumed that the American economy not with their different blisters in a crisis breaks down before. If the present gaping growth rates exist-remain, China will be able to close the gap for the gross domestic product of the United States very rapidly and then, although for it neither year nor day be indicated can, in the first place managing in the world are located to that and further to grow.
Power closes up those, it understands in the river the time at the best course to hold. This skill is closely connected with economic authority: the ability to the management and growth in the material economy on the basis of material investments, rising productivity and increasing production. Economic power strengthens also the other factors of power, in particular political and strategic power. Usually a change of economic power and the status, which such power lends, draws conflicts. The causes, which can release conflicts, are different, but can contain them such crucial interests such as entrance to oil and other vital resources.
On these bases we could experience a world of the riot, if the United States the coat of the only superpower in the world of the shoulders falls and is perhaps taken up by China or a group of co-operating with one another countries. The Bush administration has itself recently in discussions with two of its most important allied ones, Japan and Australia, over which „“let containment of China hear. In the same course it plugged together with India as a possible counterweight to China the heads. Australia preserves containment opposite such „“its doubts, while Japan shows up for it unlocked. But any conceptions of a containment could have already exceeded their date of expiry. In order to be able, one would have had to be effectively them in the policy of the last twenty or thirty years influence to send, after Nixon and Kissinger China their attendance had abgestattet. So that „containment could get “today at all a meaning, exactly that politics would have to be cancelled, which let China become only a candidate for „containment “. However evenly that politics seem to have fulfilled their task already so much, them would be still reversible today or, let alone in the 10, 15 years lying before us, and the relative positions of power of China and the United States still substantially could impair to each other.
The position of India does not appear so firmly outlined. With this Spätkömmling still another small chance seems to exist that India can become “dammed” in any way - whatever meaning may be always given to this term by those, which support this politics. But president Bush and its around-curving Foreign Minister do not seem to have understood the reasons for extent and speed of growth in China and India yet, also not that there is for both countries the same reasons. India „dam “will the cancelling the same political adjustment require, the China fate to so marvelous conversion help have. In Washington the policy does not seem to have reached such a stage of the considerations yet, but in the light of the policy „of the containment of China “we could raise the question with understanding: how long will it last, until the United States see also India and perhaps different one than candidates for „containment “? If it came so far, would the present policy of the Umgarnung India be then sufficient? Because if India is regarded, instead of candidate for „containment “to be as „counterweight “to China, then a strategic turn of the policy, which let China become powerful, would have to be again given up in favor of a rapid and fundamental growth of India in a contradictory division in two parts. This complexity of the developing power situation to master must appear inseparably difficult for the present Bush government. It would be also for each it following government a singular challenge.
The challenge and questioning as a superpower are surely only one of many difficulties, which the Vereingten states and other countries is faced with. The policy of the Vereingten states - to often the model for others - intensified almost all problems, which the mankind up-led or which you were forced upon: the environment, the poverty, population growth, race and religion conflicts, questions of the supply of raw materials and „the borders of growth “, the inevitabilities of the missed States of, the spreading of diseases, the plundering of resources of the planet by always unersättlichere Raffgier and so on. These questions are not unresolved only; they become indeed, if also not in empty speeches, comprehensively ignores and neglects. Any vision was lost. Clearing-up is the darkening pleases. To remain remaining seems - for the United States and indeed for us all - only to more self destruction.
„Of Americas suicidal government ability (Statecraft) “is the history of these developments. It a picture of which preceded drawn, in particular the years since 1969; and ways are suggested, how we could find out from our present dilemma. Will be only difficult to meet the challenge, which up-piles up itself before us. One „soft landing “will be both politically and strategically just as difficult to ensure soft landing “for the world as one „for the American economy and world economy. Certainly the employments for the future of mankind and for the continuation of the life on the planet are the highest as for individual countries. They are so high that we must accept the challenge as an absolute imperative with all the energy and and enlightened foresight, which we can apply.
Copyright © 2006 James Cumes. Casting with friendly permission of the author.
The self destruction of a superpower
Preface to of America suicidal government ability
“Civilizations end by suicide, not by murder”
Arnold J. Toynbee
When Neil Armstrong set first steps in July 1969 its on the moon, its large jump for mankind was a singularly American achievement. American vision and management, American science and technology, American financing and investment, American capability and care, American will, planning and devotion had achieved, what with join and right can be called the most outstanding human achievement of the 20sten of century - perhaps all times up to then -. America and the Americans stood as only country and as an only people there, to which this could succeed that.
But this event came to one time, when American power, as since that time past years showed more and more, had begun to decrease.
In the review the peak point of human achievement was also the peak point of American power.
In the same month, as a harbinger of the American fall, the Federal reserve board of the USA increased the American interest rate drastically. Thus one should at that time in the middle become “fought” in the cold war and that immensely hot Viet Nam war comparatively mild inflation. In its effect this simple measure of the economic policy of one era set an end, which had led up to then to ever more spectacular achievements of the American people and its governments.
From this time on the race in space and much that was connected with it, were suspended or gone back. The Apollo missions were terminated. Since that time more than three decades passed and the Viet Nam war and the cold war are history. The size of however the American vision faded, is it for the journey to the stars or for the implementation of human efforts here on earth.
In August 1971, only two years after the walk on the moon and the simultaneous increase in interest tore up the Nixon government the connection dollar to the gold. „The gold window “of the International Monetary Fund was closed. After a quarter century of its existence the IWF stopped supervising the currencies of the world adjusting and stabilizing. Free floating was permitted to the currencies. Some currencies were allowed to vary from now on freely in conformity with the handels and money stream, some other against it less freely as members of a group of currencies or than appendages of a larger currency, usually coupled to, but the still strong dollar losing at value.
One month before Nixon „the gold window “, had its national security advisor Kissinger in Peking a sensational attendance closed abgestattet, which preceded further from Nixon a themselves in February 1972. Between these two attendance the general assembly of the United Nations debated a further mark whether either Peking or Taiwan the seat of China and thus, more importantly still, which a permanent member in the security council should take. This mark votierte the general assembly for the People's Republic, whose government transferred finally, 22 years after the seizure of power, their it being entitled seat in the United Nations and in the security council.
It was a heroful victory for the People's Republic. In the same moment, while the stagflation spread and after the gold window had been closed, a still larger victory in the working places became and Kontors of the economic and financial world prepared for the People's Republic. In the course of the time the increases in interest became by the FED 1969, which closing the gold window 1971 and the economic and financial developments exerted by it in a fundamental transformation of the world-economical environment, which balance not only the economical, but also political and strategic power affect.
After the first oil shock the seventies at their end brought still another second and larger oil shock to 1973 with itself and saw a still sharper inflation of the consumer prices, particularly - however not only - in the United States. The inflation reached a peak value 1980 with 13,5%. Whereupon the FED answered with a point interest rate of 18%. It is fascinating that this coincided at the same time with Deng Xiaopings proclamation of a new and intensified capitalistic economic policy for the People's Republic of China. Deng announced, China the Japanese model will follow. “To become “, he added realm, “will be wonderful.”
To attain although it could not know the marvelous potential at that time, it had put on Deng on it, the full, although unintentional co-operation of the United States with the reaching of its economic goals - for “”. For the 70's until today the American policy is aligned constantly to develop the economic strength of China and other countries of Asia fast and substantially. At the same time however the same politics led to a steady discharge of vitality from the American economy.
After 1982 the inflation in the USA sank normal level, which came Reaganomics into mode and the United States began to provoke the ailing Soviet Union with the production and innovation strength of their economics and the strength of their military technology ever harder. With less dramatic echo in the hinterland of Hong Kong industrielle was developed an infrastructure, on which ever more factory buildings were pulled up. A production came on the way, which should supply the markets in all world at the given time - inclusively and particularly the enormous consumer markets in the United States.
The inflation in the United States remained continuously absorbed, while the oil price stabilized. From a point price of 800 USD per ounce, at which the gold 1980 was high-shot, the gold price fell 250 USD. On the other hand the irregular commercial surplus of the USA transformed in the sixties over the majority of the seventies into deficits. In the eighties the deficits continued to rise each year and became finally chronic. The Reaganomics and the challenges of the cold war let the budgetary deficit of the USA increase also. Although this remained to a large extent unnoticed in the public, the problem of the inland inflation was solved by (approve of) the offer from overseas. The countries, those for this offer ensured - and China thereby in ever more strongly growing measure - held their income as dollar reserves and rendered thereby crucial support for the reconciliation of the American handels and household deficit.
This decade of the 1980er years was a time of the increasing economic and financial imbalance, but at the end of this decade the implementation of the political and strategic goal of the United States was reached: the Soviet Union broke down and concomitantly the Soviet realm. The satellite states became free and the USA became the only, unquestioned superpower.
Nevertheless again some rather positive trends disturbed by other developments, which carried out themselves in the background. From the status of the largest creditor nation the USA slid ever more deeply into the condition of the indebtedness. In the late eighties - while at the same time the Soviet Union was in the death fight - the United States exceeded the border of the terrain of the net creditor to that of a net debtor.
More than one decade had supplied Japan and the again industrialiserten asiatic tigers the American consumer market long before. Turned around the fall of the American industrial production began. The new industries of Asia took over this production and manufactured ever more complex products with rising quality for the American like the world market. Now also the acceleration industrial development in China began, and with the continuation of the nineties it consolidated itself approximately along the Pacific coast for the supply of the foreign markets around the world.
In the 90's flickered in the USA for a set of years as as the innovative and business gloss of its time of the risk capitalism. The stock exchanges boomten, enterprise founders collected over night fortune in, material investments came again to the course and returned to parts of the economy approximately old Vitalität: The budgetary deficit transformed for three years, 1994-97 into a surplus, even the commercial balance sheet remained a time long in its chronic downward movement.
Then again everything broke down.
Too much air had blown up too many market blisters. The underlying trends of the material investments, of productivity and production proved as too weak. The stock exchange courses broke down. The plant investments sagged. Financial capitalism and the misalignment of the inland inflation into foreign trade deficits drove the United States ever more deeply into the national indebtedness and forced the households to ever more excessive borrowing to the maintenance of their consumer standard. Ever began more people to along-pass on failed with Finanzpapieren in a play with which - by such Obsessionen like free markets, privatisation and globalization - which had become American and the world economy the field for speculation, to a world-wide casino.
By the world strongest creditor the United States became now ever more decided the world largest debtor. In the year 2005 the national debt amounted to 8 trillion USD - approximate 60% of the gross domestic product -, about which 40% were held by non--residents, among them governments and central banks abroad. The indebtedness of the households amounted to 2 trillion USD. The total indebtedness of state, enterprise and households resulted in summed up approximately 41 trillion, after some computations even 49 trillion USD. According to data of the office for US treasure president Bush had collected in the five years of its term of office more money borrowed than all presidents before it. The forty-two presidents before him had credits with altogether 1.01 trillion USD, which Bush government against it alone between 2001 and 2005 with 1.05 trillion USD taken up - an all time record, which is called it however still with a rise, then, by 1 trillion USD every eighteen months constantly is exceeded. The only although ambiguous tröstliche consideration for this means that these joint and several debts with the decrease of the actual value dollar are also constantly reduced. Turned around however to the ernüchternden prospect that the value dollar ever more into Auszehrung purges, probably even particularly accelerated in relation to the commodity values of gold, oil leads and and other raw materials.
With an indebtedness, whose order of magnitude only few from us can imagine, with ausufernden commercial balance sheet deficits, with a purging industrial sector and an inconsiderate decrease of the range of the qualified workers, with a firm practice, to which traditional orientation at material investments, productivity and production got lost in favor of of „owner shank “and speculative enterprises, the United States seem to precede immediately on the way to the ruin. The unaussprechlichste of all economic crises - with a multiplicity of topics, criteria and complex effects - seems in only small distance this way to threaten on which we is now. If it overtakes us, a chaos and a misery will meet the American economy and the American people, against what the large depression of the 30's would be only a pale Vorahnung - and it will still longer persist one decade or.
But this threat goes far more deeply than only this prospect. The United States are not only as one in the horde/hurdle part of these Malaise, which add to everyone in the world. Some other, particularly anglo-saxon countries, have similar problems. But while these and the United States are gestrauchelt, some other countries obtained unexpected progress with the development their managing and increased thus its influence and its power within jedwedem range - economically, culturally, politically and, completely particularly worrying, strategically. The United States organized both their own fall and the ascent of those countries, which as their actual or possible rivals can be regarded.
Among them is China, which up-worked itself in the last two decades in the order of rank high-successful managing so far that it ranks now among the five largest national economies. Perhaps only the USA, Japan, Germany and Britannien still rank before the awaking giant. If one charges for the large differences of the growth rates, China will assume very soon third rank and will not overhaul few years after also Japan, the country, which had selected itself Deng 1979 as model. Only the United States the place before it to hold, assumed that the American economy not with their different blisters in a crisis breaks down before. If the present gaping growth rates exist-remain, China will be able to close the gap for the gross domestic product of the United States very rapidly and then, although for it neither year nor day be indicated can, in the first place managing in the world are located to that and further to grow.
Power closes up those, it understands in the river the time at the best course to hold. This skill is closely connected with economic authority: the ability to the management and growth in the material economy on the basis of material investments, rising productivity and increasing production. Economic power strengthens also the other factors of power, in particular political and strategic power. Usually a change of economic power and the status, which such power lends, draws conflicts. The causes, which can release conflicts, are different, but can contain them such crucial interests such as entrance to oil and other vital resources.
On these bases we could experience a world of the riot, if the United States the coat of the only superpower in the world of the shoulders falls and is perhaps taken up by China or a group of co-operating with one another countries. The Bush administration has itself recently in discussions with two of its most important allied ones, Japan and Australia, over which „“let containment of China hear. In the same course it plugged together with India as a possible counterweight to China the heads. Australia preserves containment opposite such „“its doubts, while Japan shows up for it unlocked. But any conceptions of a containment could have already exceeded their date of expiry. In order to be able, one would have had to be effectively them in the policy of the last twenty or thirty years influence to send, after Nixon and Kissinger China their attendance had abgestattet. So that „containment could get “today at all a meaning, exactly that politics would have to be cancelled, which let China become only a candidate for „containment “. However evenly that politics seem to have fulfilled their task already so much, them would be still reversible today or, let alone in the 10, 15 years lying before us, and the relative positions of power of China and the United States still substantially could impair to each other.
The position of India does not appear so firmly outlined. With this Spätkömmling still another small chance seems to exist that India can become “dammed” in any way - whatever meaning may be always given to this term by those, which support this politics. But president Bush and its around-curving Foreign Minister do not seem to have understood the reasons for extent and speed of growth in China and India yet, also not that there is for both countries the same reasons. India „dam “will the cancelling the same political adjustment require, the China fate to so marvelous conversion help have. In Washington the policy does not seem to have reached such a stage of the considerations yet, but in the light of the policy „of the containment of China “we could raise the question with understanding: how long will it last, until the United States see also India and perhaps different one than candidates for „containment “? If it came so far, would the present policy of the Umgarnung India be then sufficient? Because if India is regarded, instead of candidate for „containment “to be as „counterweight “to China, then a strategic turn of the policy, which let China become powerful, would have to be again given up in favor of a rapid and fundamental growth of India in a contradictory division in two parts. This complexity of the developing power situation to master must appear inseparably difficult for the present Bush government. It would be also for each it following government a singular challenge.
The challenge and questioning as a superpower are surely only one of many difficulties, which the Vereingten states and other countries is faced with. The policy of the Vereingten states - to often the model for others - intensified almost all problems, which the mankind up-led or which you were forced upon: the environment, the poverty, population growth, race and religion conflicts, questions of the supply of raw materials and „the borders of growth “, the inevitabilities of the missed States of, the spreading of diseases, the plundering of resources of the planet by always unersättlichere Raffgier and so on. These questions are not unresolved only; they become indeed, if also not in empty speeches, comprehensively ignores and neglects. Any vision was lost. Clearing-up is the darkening pleases. To remain remaining seems - for the United States and indeed for us all - only to more self destruction.
„Of Americas suicidal government ability (Statecraft) “is the history of these developments. It a picture of which preceded drawn, in particular the years since 1969; and ways are suggested, how we could find out from our present dilemma. Will be only difficult to meet the challenge, which up-piles up itself before us. One „soft landing “will be both politically and strategically just as difficult to ensure soft landing “for the world as one „for the American economy and world economy. Certainly the employments for the future of mankind and for the continuation of the life on the planet are the highest as for individual countries. They are so high that we must accept the challenge as an absolute imperative with all the energy and and enlightened foresight, which we can apply.
Copyright © 2006 James Cumes. Casting with friendly permission of the author.
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