Re-colonization: our last best hope

[many a good man]

There has been much discussion lately here at DU about the consequences of the drastic decline in the US Dollar. Our record-breaking twin deficits in budget and trade will accelerate recent trends eroding the dominance of American corporations in international business. Over the long run this will result in significant structural changes in our economy, including one that is often overlooked.

The devaluation of the Dollar will lead to European companies devouring American ones because they can be had so cheaply. Daimler-Chrysler was just the beginning. In the next 10 or 12 years the Fortune 500 will all be subsidiaries of European firms. We will have been effectively re-colonized.

When our present corporate masters are replaced by European ones, it will lead to a progressive re-shaping of America. European corporations have, by and large, come to see the benefits of social democratic reforms on the business environment in Europe. They will alter the political discourse by encouraging the de-coupling of employment and health insurance. This will lead to the adoption of a national health plan, like Canada's, with "rations", price controls, tort reform, and regulation on medical providers.



Big business will finally get behind efforts to strengthen education in this country... because it makes good economic sense. More and more "reality-based solutions" will be allowed into the political discourse -- because they know social responsibility has its benefits.

European ownership of US corporations will move the political center in America further to the left than ever before. The current Gingrich-Norquist-Dobson-Neocon axis of evil will be thrown over the docks. The people will awaken from their long slumber and claim their proper role in society. Do you think my crystal ball is accurate?

[alittlelark]

1. So far Asia owns most of our debt.

I wonder who our new masters will be?

[NMDemDist2]

2. makes sense

the dollar will also make our home grown entrepreneurs start manufacturing products here again as imports will be too dear

[Vincardog]

3. If the International Bankers let us survive that long. Watch the Austerity

measures gut the social fabric first.

[many a good man]

5. Nothing there TO gut!

Our social spending is already lowest. Now let's do a cost-benefit analysis on military spending....

[The Doctor.]

4. I love it, but it would mean...

That the PNAC has to fail.

I'm 99% certain of that eventuality.

There is no doubt in my mind that the bottom will drop out of the US$ in 5-7 years, The question is- will we have secured a substantial enough portion of the world oil market before then?

I think this administration is far too incompetent to pull it off.

[zmdem]

6. Oil

Whatever control the USA has over the oil market is economic, not military, hence if we lose economic control, (if we have it), that's the game. Of course a major economic collapse in the USA would also devastate much of the outside world also and the consequences of that could be very ugly indeed.

[many a good man]

7. Stability of the world oil markets

Is the number one concern. Our current geopolitical military strategy has resulted in wild uncertainty. Its time for adults to take over...

Everyone in the world has a stake in minimizing how "ugly" it will be. Major changes in the global balance of power are always ugly. A more cooperative USA would do much to alleviate the growing pressures on the globe.