An interesting situation is brewing in America. They have 4 weeks to come to an agreement on increasing their loan requirements, or, they will default on their debt. First time in history. !!
"Republicans have been negotiating in bad faith, unwilling to compromise even an inch on their extremist and absolutist positions. Some are no longer willing to come to the table at all."
President Obama may find that there is only one course left to avoid a global economic calamity: Invoke Section 4 of the 14th Amendment. This enables the President to raise the "debt ceiling".
Interesting!!. On a broad "take", we are seeing our Internationally agreed system of economics taking such a "bashing", that I think, "come what may", it will have to change.
I think that a massive wealth re-distribution is needed. The corporations and the mega rich may well need to be hauled to a metaphorical guillotine for some "blood letting".
Actually redistribution of trillions of dollars will be the "order of the day". Those trillions which DO EXIST, could be spent on massive schemes to re-empower, and to benefit the lives of "the people".
The big question is, for how long, and to what depths, are the poor going to allow themselves to be victims of the predations and greed of the corporations and the mega rich ?.
Clearly better to act now rather than wait for an inevitable, eventual, monetary systems collapse.
Do you think our Euro Leaders are any better than the USA Leaders ?.
Personally, I think not - they seem unable to lead, to inspire, to inovate, or even to recognize that we are globally in a situation that could rank with the intensity of the 2cnd World War.
That does seem a bit "heavy", but really, looking at The World as a "whole", things are not going well. :- like :-
A truly Massive famine building in Africa.
Western World releasing stored oil reserves to meet energy supply needs. (Peak Oil ?.)
Climate Change creating a detrimental impact of world wide food supplies, and prices of basic staples continuing to rise.
Global Financial uncertainty.
Clearly it is time to concentrate on a bright new world where we all make a difference and learn to concentrate on a vision and work for a future which we want.