America, the Indispensable Nation
Filed under: US Elections
Over the past four trading days, the Russian stock market has lost over 13% of its value (leaving brokers who sold the market to their clients as a safe haven based on Russia's oil resources looking like the crooks they are). The Indian Sensex Index took the second-biggest one-day loss in its history on Monday, and markets throughout Asia also suffered massive losses. Europe immediately felt the ripple effects.
The reason is simple: Us. Or rather, U.S.
America's stock market is dragging them down. See, the world depends on our purchasing power, and if that's taken away, the world's economy will collapse. The world depends on American buyers just the same way America depends on foreign oil suppliers, except to a far greater extent. America has made itself indispensable to the world. Checkmate. Game over. It's not clear, though, that the world has yet come to grips with this reality.
Without American purchases of crude oil, the price on world markets would collapse, and it would take the Russian economy with it. Russian investors know that, so they're selling their shares as fast as they can.
Without American purchases of Chinese and Indian crap, their nations would be buried under mountains of it. Chinese and Indian investors know that, so they're selling their shares as fast as they can.
Americans routinely ask what we might do to encourage foreigners to hate us less. But when was the last time you heard a foreigner ask how he might help the American economy do better, and thus help themselves as well? When was the last time you heard one speak up and say: "Hey, our future depends on these people you want to destroy. Shut up, already." Instead, it seems there is a whole host of benighted morons who delight in American difficulties, seemingly oblivious of the horrific impact on their own lives. Or else, they're simply overcome with bitterness and suicidal impulses.