The prophecy of doom continues . . . .
. . . and there are no signs of it abating. We rather see the unmistakable signs point to
weightier coming conditions for the entire world.
We all started as disparate communities living as
different countries with all our dissimilarities. Differences not only in looks, but in values,
goals, etc.
Then somehow in spite of widening chasms in divergence
of thought and action, the drive toward globalization, and the anticipated forthcoming
one world government, was imperceptibly initiated with many powerful advocates casting
their lot on the efficacy and the suitable time for the ideology.
But we know we are nowhere near it and the friction points
are so severe, the chances are nil that that this desired option
is available to humanity, not especially after we have been decimated by this
pandemic. Our differences continue to
make that an almost impossibility. And
what is more is that many find that such change would not really redound to the
benefit of the world, bit would widen the rifts already existing between
countries.
Some caveats or premises before we can even hope to reorient
ourselves to the path toward resolution of all the global problems now gripping
the entire planet.
First, like it or not, the world has to be aligned, or
at least not be obstructive, on the side of the US of A. Aside from being unarguably the mightiest
military power in the planet, it also has the biggest economy making all other
countries not only interconnected with it, but also interdependent.
The US dollar is the reserve currency of practically
every other nation in the world. Thus,
it is unthinkable to have people wish ill on the dollar without spiting
themselves. Those countries who hold US
debt have this in their minds, too. The
US has to continue being what it is and doing what it does, or the world
economy will be grossly affected.
Because it has the biggest economy it also is the
biggest consumer in the planet. 75% of
its GDP is consumer spending. Because of
this, those countries who produce and export have to reckon with the US. Even China, a largely exporting country,
understands this, and cannot disregard the US without jeopardizing its own existence. This holds true to other nations in the
world.
Which country has gone past this pandemic and having
its economy already on the path to recovery?
Hard to name one, except maybe a little country like Taiwan.
But in spite all this, the US as the world leader and
trailblazer has a lot to be accountable for the actions it has been taking to
get past this pandemic.
With that explained and set aside, we turn our
attention to what the world under this abnormal and entirely unfamiliar state
of affairs has become.
Unemployment in the US has reached 20%. Unemployment ceiling
for the US as far as we can reach back has only been at 10%, never more. Its GDP has spiraled down to negative
territory by as much as 33%. This because of the lockdowns, artificially slowed
down by stimulus spending. But for how
long can this be sustained?
US FED policies have not only been unhelpful; it has
exacerbated a deteriorating situation. And this has been so for quite a while, what
with all these confusing QEs that they have employed and now, the country and the
world with it are now being conditioned to the set of stimulus packages waiting
in the pipeline. And as far as can be gleamed these amount to nothing more than
printing more money and releasing them to the economy at large, albeit doing
all this digitally. But still mirroring the
same effects. So we have to ask, when
can we expect runaway inflation?
Add to all this, the political chaos and destruction
we have seen in the last months in US streets and government structures
continue to consume whatever desirable advances the beleaguered administration
has been able to garner the past three years.
All this points to a future that is not only
uncertain, but undeniably gloomy for the entire planet.
