The World Economic Crisis is Over! There will be ups and downs and flare ups in various spots around the globe but for all intents and purposes this crisis too has passed. The message from the majority of G20 nations is that deficit spending is nearing its conclusion. One can argue whether it was ever necessary but at least we have a concensus that any future deficit spending would be a detriment to the world economy. This is a vindication for the Tea Party movement in the United States who has created another "shot heard round the world" in its opposition to Keynesian deficit spending. The message has resonated with world leaders, especialy in Europe and President Obama's plea to continue this spending into serfdom has fallen on tired ears.
The announcement last week by the Chinese that the Yuan would be allowed to appreciate also has strengthened the outlook for the world economic recovery. This much needed adjustment coupled with gains by Chinese workers in the area of wages have given all markets confidence that people around the world are moving forward and setting their expectations for the price of wages and investment capital.
The resurgence of the Euro has also signaled the bottom and beginning of the recovery. The elections in November 2010 in the United States will will re-establish some balance between the Keynesian Democrat party and the F.A. Hayek leaning Republican Party with its catalyst the Tea Party Movement which has represented the sanity of the Founders of the American Republic. A new world order has emerged and it is one of continued growth, prosperity and democracy. One can only hope that the dark forces of Islamo-Fascism and neo-Communism that have emerged onto the world scene will not gain a foothold in this time of new hope and optimism for a bright future for ecomomic and political freedoms.
The World Economic Crisis is Over! There will be ups and downs and flare ups in various spots around the globe but for all intents and purposes this crisis too has passed. The message from the majority of G20 nations is that deficit spending is nearing its conclusion. One can argue whether it was ever necessary but at least we have a concensus that any future deficit spending would be a detriment to the world economy. This is a vindication for the Tea Party movement in the United States who has created another "shot heard round the world" in its opposition to Keynesian deficit spending. The message has resonated with world leaders, especialy in Europe and President Obama's plea to continue this spending into serfdom has fallen on tired ears.
The announcement last week by the Chinese that the Yuan would be allowed to appreciate also has strengthened the outlook for the world economic recovery. This much needed adjustment coupled with gains by Chinese workers in the area of wages have given all markets confidence that people around the world are moving forward and setting their expectations for the price of wages and investment capital.
The resurgence of the Euro has also signaled the bottom and beginning of the recovery. The elections in November 2010 in the United States will re-establish some balance between the Keynesian Democrat party and the F.A. Hayek leaning Republican Party with the catalyst for the Republican Party being the Tea Party Movement. The Tea Party has represented the sanity of the Founding Fathers of the American Republic. A new world order has emerged and it is one of continued growth, prosperity and democracy. One can only hope that the dark forces of Islamo-Fascism and neo-Communism that have emerged onto the world scene will not gain a foothold in this time of new hope and optimism for a bright future for ecomomic and political freedoms.