It occurs to me that the so-called 'global economy' might not in fact be global, but just a spread of American owned corporations that have been given a name (Global) to divert attention.

If we look at the corporations who are marketing throughout the world, we find that there are few if any that are owned solely by non-US interests. The US has taken over other brands from other countries of course, such as Toyota, but for instance, notice that there are few examples of, say Fiat cars in the US, despite it being a quality product. There are no Yugo's any more either, but let's not get onto the reason for that!

So, it might be that the current global downturn is actually not global at all from the point of corporate ownership, but is simply a contraction of US corporations.

If this thought is correct, then it means that it might be possible for the rest of the world to simply bypass the US influence, and carry on with business, provided that they are prepared to accept that the US economic model is an ultimate long term failure as it is unsustainable due to an inability to expand infinitely due to resource supply constraints.

One thing the United States is good at doing is attempting to make their problems the rest of the worlds.

Or, at least, make it seem as that was the case.

Thankfully most of the top world economies saw this storm brewing miles ahead of time and have taken long steps in circumnavigating the mess.

Through tactful marketing, better products or smart mergers, the rest of the world competes at a level that just wasn't seen in the 90's.

Japanese and EU companies (Especally in the automotive industry) have florished, having a long term goal in mind. Not over extending themselves into slimming margins. (Ford's overzealous boom that came to bite them in the ass is a good example)

Growing up in the American Midwest, the failures were all but an apparent part of life. Run down and abandoned car factories, Rubber Plants, and even the steel industry littered about the landscape like some disgusting hollowed-out graveyard of prosperity that once was.

Where the falicies of one Presidential adminstration can do such damage to a strong economy, they refuse to look in the mirror and attempt to target the problem. Let alone find a solution.