Fernando Meisenhalter

AMERICA'S FINANCIAL COLLAPSE and its Political Consequences Fernando Meisenhalter

Is America on course for a new economic depression? Will this depression further the strong "anti-establishment" mood seen already in the States and around the world today? Will it lead towards a complete social and political reversal in the country?Aside from the unbelievable amounts of unpayable debt, the US economy is also facing a vast "mountain" of very toxic financial "assets" called derivatives that have been piling up almost without measure since the mid-1970s, a pile so massive and so risky and so dangerous that it has the potential of devastating the entire financial sector. Voters today are already waiting for the first chance to "jump" traditional politics, and very happy to elect people they regard as "outsiders." Another vast economic turndown like the one in 2008 will probably seal the political fate then of the entire postwar political system. The world today is already a different place. Social upheaval is on the rise. Protests worldwide have risen to a level as high as during the 1960s, a time when discontent and social unrest peaked during the 20th Century. These protests are part of a generalized insurgency rattling politics everywhere, a preview of sorts of things to come, including America. We are most certainly at the very doorstep of a major political shift. Beliefs regarded as rock-solid today, such as, for example, the infallibility of the "free markets," and the sanctity of the private sector, might soon be replaced by a very new and different set of realities. It is no longer a question of if, but one of when.