Don't forget about us.
 

So right now the world is in the middle of a seriously economic crisis. Australia's markets are taking a dive, and it doesn't look like our resources boom will shield us from the credit crisis.

Interesting how it is, that domestic US financial policy can so profoundly have an affect on the rest of the world, such is the power of US markets.

But, unfortunately, this is nothing new to us here. US foreign and domestic policy has been having profound affects over here for a while now, and unfortunately, all we can really do is sit by and hope for the best without any real say or input.

While the Australian media reports the ridiculous to the plain absurd following the campaign, I can only wonder if American voters ever really consider how their vote could affect the rest of the world, or, if they really even care.

So I'm curious to know, do you guys care? Will your great country's affect on the rest of the world have any influence on how you vote?

at this point.. I'm saying fuck the rest of the world and get my own country back on track.


no not really.. I guess to a degree I would like that, but it's apparent that markets lean on each other. We aren't in a crisis (don't get me started) and the markets will level out in months. naturally, an election generally helps this along. So sit tight and don't worry it will all be over soon.

LOL

Should I take the lack of response in this thread as an indication?

I can very well understand, especially given everything that's happening over your way at the moment.

Ironically, I JUST finished a conversation with my friend in Aussieland, and he said that you guys are a-ok, that the politicians are on everyday saying "The Americans are fucking up bad, but look at us! Our economy is so stable you could nuke it and it would stay standing."

A lot have people have had their superannuation wiped out (I think you guys call that your 401k?) But that's the fault of their fund managers.

All in all, yes, here in Aus things aren't that bad, though our markets are taking a pounding. The real problem we face is if markets and economies in Asia crash. If China's growth stops, then they'll stop buying our resources, and if that happens we'll really be hurting.

Australia can weather the storm, but a global recession is still a global recession, it will hurt everyone.

But the heart of what I'm getting at here, is do Americans ever really consider the affect their government's policies have on the rest of the world?

I don't know about Joe Public out on the street, but the American Government sure doesn't seem to give a shit about the effect it's policies have on the rest of the world.

I'm in Iceland and our economy is well on its way down the tubes right now, with a huge weight dragging it down from the US economy. I don't think anyone cares about little ol' Iceland, but it sure does hurt for the 314,000 of us living here. I'm also an American, but I feel the same way you do, MrFriendly... we really need to think more about the GLOBAL situation, if we truly want to repair our political and economic reputation in the world. That is one of many reasons that my vote is going to Obama.

i´d go as far as to say the us crisis hit iceland´s economy harder than it hit the us. i´m of the suspicion that the majority of people in the us really don´t care about the world around them, except when using phrases like "world´s police" and "leaders of the free world." a true fair weather friend :)

There is an expression, "when the US sneezes, the world catches a cold." I think the opposite is also true. When the US does well, they rest of the world is lifted along with it. So if we fix ourselves, the rest of you will see a benefit. But I don't see Australia's or Iceland's economy impacting ours positively or negatively. Even when Japan had their huge economic crisis for many years, it did not seriously hurt the US economy and we had some of our best years in the 90's. I don't know if this is still true, but at one time, California had the 11th largest economy in the world, considered by itself.

Also, many of us are pissed at our govt policies, and at the current administration in particular. Of course, when we have tried caring and put out nose in other people's business, everyone shits all over us and says that we are interfering and throwing our weight around. So what do you want? And if the world does ask for our help, are we supposed to just blindly follow your orders? If we are there to bail someone else out, maybe they weren't doing a good job in the first place and we can bring some influence on our terms. We do have a mind of our own, just like you.

I do care about how we affect the rest of the world.

Can I really do anything about it? No. But I know many people in many countries (side product of being a gamer of StarCraft which is popular in many countries) and am obviously not happy when my country's woes spill over on to them.

not once have i considered the impact that the u.s. has on the rest of the world, or even thought about it. i often forget our nation has so much pull when it comes to the globe.

one things for sure, ill be thinking about it from here on out.

I care more about our foreign policy than our economic policies affecting the world. And I think most of out trade agreements are in favor of the foreign countries.

The economy here was like someone put gasoline/petrol on a fire, but didn't add any wood. It burned really big, but there was no substance to it's growth. The thing is, our economy was never as good as it was hyped to be, but it isn't as bad as it's made out to be now either. Maybe people are finally getting to a point where they have enough stuff. I know I have run out of things to buy. Next year, I won't be making any really big purchases, so that might be what is causing a lot of the slow down too.

it's funny reading the posts from folk who imagine that the us economy is in any way self-contained---not even small businesses have supply chains that are limited to the borders of the united states--the clothes you wear, the computer you look at to read this, the materials from which the telecommunications system is made, the television that you watch--depending on where and how you shop for food, what you eat---all flows through networks that mis stuff made in the state and stuff made elsewhere. at the level of consumption, you haven't even started to catch up with capitalism if you still think in quaint categories like nations or states---if you think about production, when you do, that system is just as spread out, just as mixed, with a different scaling effect at play--capital flows are almost all transnational.

one of the main features of "globalizing capitalism" has been the dumping of stuff like american agricultural overproduction (corn no. 2 and powdered milk and such) onto the outside world...it goes on and on, this kind of list.

that you do not consider spaces beyond the united states is a function of an imperial narcissism---colonial powers can pretend they're autonomous, not because they are, but because the organization of the system/orders they preside over enables them to act as though this was the case.

it's likely those days are ending.
welcome to the world.

it's also pretty obvious that this crisis in capital-land is transnational and that no single nation-state is in a position to manage effectively the consequences of large-scale dysfunctions, not to mention system crises. chances are that this will become more and more obvious in the coming months. enjoy it.

wish the president & candidates thought like you, roach

I'm pretty sure E13 in East London has grown to care about Iceland today.

Indeed, it seems the whole world has noticed what is going on in Iceland, in the last 2 days. Appears that about 300,000 UK savers stand to lose from Iceland going bankrupt...

it was on the al-jazeera ticker that the british government was going to take legal action against iceland. i chuckled as i wondered exactly how does one get blood from a stone.

What is the basis of the law suit?

apparently 300,000 british people have put money into icelandic banks and the idea is to get this money back as the banks have frozen withdrawls.

basically what i just said in a few more words

Kinda concerning when the crisis can leave a country on the verge of bankruptcy.

It's pretty surreal when ktsp's Lebanese family calls us because they've heard bad news about OUR country on the news--it's always been the other way around, we hear about bombs in Lebanon on the news, and make a call to them ASAP. Of course, I'll take bankruptcy over bombs any day, but still rather odd turn of events.

I guess we've really hit the big time when Thomas Friedman (of all people) mentions us in the NY Times' most-read article this morning:

That was also in NPR's headlines this morning.

That has got to suck.

Actually it looks like apart from a lot of people having their superannuation wiped out, Australia will fair OK. China has assured our government that demand for our resources wont drop by much, and our banks are still in good shape. And seeing as we're in a housing crisis, the demand for housing is keeping the market quite high. However, if that falls, we really will be fucked.

However, our dollar is falling badly against the green back, euro, and pound, but that will help our exports, if people still have money to pay for them.

It still strikes me as insane that a reckless oversight in the US can cause all this.

I saw this today and had to laugh though

http://img167.imageshack.us/img167/6...6086791fg6.jpg

I think there's also an issue of responsibility to be considered of your leadership. Greed knows no borders.

Your picture should include all the members of the U.S. House of Representatives and Senate. Bush is not the sharpest tool in the box, but oversight falls to congress. Greed also knows no political borders.

I completely agree otto.

Mortgage lenders should have not been pushing debt onto people they new were high risks, and people shouldn't have been borrowing far beyond their means.

There's no one person at fault, but there's a hell of a lot of people whose ethics can be questioned.