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banking interdependence
wow. nothing is showing off the growing interdependence of the world better than the current financial crisis and the resulting, coordinated government interventions. will this be heralded as the first glimmer of a single, world government? never before have the major central banks operated in unison.
and i also wonder if this means warfare is now obsolete between major countries. all the markets are in joint free fall: hong kong yesterday had a 10% drop in value. russia lost 14% in two days and then suspended trading for the rest of the week. we’re all so clearly tied together now. would any country stomach having all their savings evaporate over a major war? can we just agree that war is not an option anymore?
this also demonstrates the true, modern self-defense of american soil. no one would dare attack the US for fear of losing all their retirement savings.
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8. October 2008 at 11:08 am :
The idea of a single world government scares me more than anything else anyone’s said about the financial crisis.
8. October 2008 at 11:47 am :
what, no faith in government?
8. October 2008 at 3:06 pm :
Other countries were financially tied to us during the Great Depression too. The times are definitely changin’ right now though.
10. October 2008 at 5:43 pm :
At least this is demonstrating viscerally how interdependent we all are with each other. Educational I hope.