What is Clear
Especially:
What is clearer is that global investors have finally lost faith in the US’s debt-binged financial status quo and that a new, less US-centric era of global capitalism is dawning.
…The hard truth America is now so desperately trying to avoid is that US economic, financial and human resources - once considered the cream of the global capitalist crop - are in the new market reality worth a fraction of what they were previously priced.
Also interesting:
Others, reflecting on past Western criticism of Asian crony capitalism, wonder why the US media has not asked harder questions about a potential conflict of interest in former Goldman Sachs investment banker turned US Treasury Secretary Henry Paulson’s lead role in devising a bailout package for his former Wall Street associates. They suspect it could be partially explained by much of the US media’s reliance on investment banks for their advertising revenues.
