The GE America
by, 27th-June-2009 at 12:07 PM (758 Views)
When GE speaks, Americans better listen... worth a read.
Spot on! The primitive driving force behind capitalism is human greed... and when the primary driver behind a nation's economy is made up solely on human ingenuity and greed, the march to economic doom is almost assured. Even for a super power."While some of America's competitors were throttling up on manufacturing and R&D, we de-emphasized technology," he said. "Our economy tilted instead toward the quicker profits of financial services."
The worst part of this gigantic mistake by the Americans is the loss of their US$ hegemony. Without the US$ as a chain to bind the rest of the trading/financial world under their control, they have practically given up their leadership in the global financial system and set the rest of the trading nations free to challenge their US master.
By the time the USA has recovered from this disaster in a few years' time, the world will never be the same again. At least not the world the Americans had been living in the last 50 years.