Tuesday, October 07, 2008
Decline of the American Empire?
I've read the best article yet on the American economic crisis and what it means for the world (incidentally, so far, Australia is weathering the storm with good economic fundamentals). The article is How did it get to this, America shatters and, once you get past the anti-American rhetoric, it actually makes some good points. All I want to say is: (1) the GOP ideology of tax cuts, tax cuts, tax cuts is not what you do during times of war. Every civilization I know of raises taxes during time of war in order to avoid bankrupting the country with debt! (2) The great preachers of free market non-interventionist economics have finally seen the chickens come home to roost. Some government intervention and regulation in a free market economy might actually be a good thing and we now have 700 billion pieces of proof why this is so. (3) While the world economic environment will change with this, I doubt if it means the ultimate decline of America's economic power since it is too big and too rich to go down just yet. If you don't believe me, check out the endowments of Harvard University and Princeton Theological Seminary. (4) Whinge about American hegemony and imperialism all ya like, but I can't help but think that America has tried, in ideal at least, to be a benevolent nation. I cannot help but prefer American hegemony to a hegemonic Russia or China (ask people in those countries what they think on it before you mock me as a yanky sycophant on that one!). (5) When I think of the US finanical meltdown I think of Revelation 18.9-17 where the kings and merchants of the earth are literally beside themselves with grief that the economic boom of Babylon has come to an end. America is not God's anointed servant to bring capitalism and democracy to the world, but nor is she the whore of Babylon either. America is just another pagan nation with many good Christian folk. As Christians we should not put our trust in any one nation since nations rise and fall but the Kingdom of God endures forever.