June 29, 2009

• BEWARE OF DEMAGOGUERY

  

  When people are free to do as they please, they usually imitate each other.”   (Eric Hoffer)

  Date:  6/21/09

   

  To:  XXX

   

  Re:  Article Entitled:  “Are We Bankrupting the Country?”

   

  Like most demagoguery, this article has some truth, but not in proportion to the level of fear that it hypes.  This was created to generate fear, and not to disseminate information.  The talks that it mentions by these developing countries [the developing eight countries] is indeed important and should have been more evident in our Main Street Media as the possible ramifications could be great.  But this article only tries to bring out the fear factors and presents these possibilities as done deeds. 

   

  Yes, they were talking about changing the currency and yes, that would severely affect our economy if they did.  However, China would wind up hurting financially if the value of the dollar dropped, so it is reluctant.  Yes, they were to discuss the currency of the IMF but that is useless as a traded currency, so that isn’t a likely prospect.  Russia is dependent on the price of oil so it will not make decisions which would devalue the price of oil.  Each of these countries has a favorite alternative, but none of them are the same as the others.  They are all separate in their desires for an alternative so it is unlikely that they will agree on an alternative.

   

  But it is a start.  We must realize that the definition of Superpower has changed.  It used to reflect our being a military power.  But power in today’s world is not to be measured in terms of military strength.  (We are in two wars where our mighty military powers are not being used.)  This paradigm shift needs to be recognized and incorporated by our society.  Power in today’s world is to be measured in terms of financial power.  And the US is not a Superpower in the financial world, and will become even less powerful without a paradigm change. 

   

  But the calamitous effects won’t come out of this week’s meetings like this article so joyously pronounces.  It seems to revel in its fear.  Always distrust an article like this that revels in the amount of fear and also cannot discuss without resorting to extreme emotion-packed adjectives to create emotional responses rather than rational responses.

   

  David

   

  • 10:56 pm
  • 1 Comment