Putin: A Post-US World Blueprint

The U.S.: A nation fated to be suddenly thrust into the Third World?

Here's a sobering opinion piece from Davos, Switzerland, where global political leaders and business people gathered last week for the annual World Economic Forum. Hat Trick Letter editor Jim Willie furnishes the lede:

The World Economic Forum took place in Davos Switzerland last week. The global picture enabled a nice snapshot of sentiment, fault for the crisis, blame doled out, the vacuum of leadership, the perks for blunderers in a country club setting (instead of prison), and warnings on a potential situation that could spiral out of control. Amidst all the finger pointing, surprisingly little blame was given to themselves, the corporate chieftains in attendance. Let’s be clear! The Davos Forum was a funeral wake, and Putin rode in on a white horse to announce there is a new sheriff in town!! Davos afforded a unique opportunity for Russian self-styled leader Vladimir Putin to storm the forum stage and to steal the show. Putin presented a basic Blueprint for what should be called ‘The Post-US World’ as the United States and United Kingdom have lost the mantle of leadership and control. They lost it from failed economic policy, wrecked banking systems, fraud-ridden bond markets, corrupted debt ratings agencies, abuse of IMF & World Bank, and the severe backfire of economies that depended upon housing bubbles. Inflation turned on its haughty financial engineers! Nations with insolvent banks, insolvent households, corporations in liquidation, economies in near collapse, they tend not to be good owners and custodians of the global reserve currency!!!

Read the rest of this not-so-cheerful article below:

• Putin: Post-US World Blueprint

Among other things, Mr. Willie warns of this:

Not only will the US Dollar not provide the global highway for all to travel, but new barter systems will be dominant soon in working around the commodity price systems dominated by the US-UK corrupt price discovery systems. The other painful consequence to the new system soon taking root is that the global commodity supply routes will bypass the US destinations, enough to create mammoth shortages. Such is the fate of a nation thrust to the Third World. Its people and its leaders still do not realize it, as denial is ensconced in hope. The US credit supply has already been severed and cut almost completely off. Reliance upon the printing press to finance its own debts is a primary trait of a Third World nation, a shocking fact soon to be recognized.

WCF economics wonks are going to most certain want to give this story a good long read. It's definitely NOT the sort of stuff they'll find in their local American newspapers. Our world trading partners apparently grow restless, as the U.S. becomes an international financial pariah, and congress and the Obama administration prepare to rev up the fiat money printing press.

And if there's even an ounce of truth to what Mr. Willie is predicting (and we believe there is,) we wonder how much longer these silly folks will manage to keep those equally silly smiles on their faces:


Fascinating (and dangerous) times we're living in.

So what say our gentle readers about all this?