Financial Imbalances and the Politically Unbalanced

On January 31 the China Reform Monitor stated: “China has lost faith in the U.S. dollar and is looking to broaden the exchange rate to more flexible and stable currencies….” On Feb. 7 a Pravda headline proclaimed, “Russia to oust U.S. dollar from Nation’s financial policy.” Last month the United Nations Department of Economic and Social Affairs (DESA) and the United Nations Conference on Trade and Development issued a joint report titled “World Economic Situation and Prospects 2005.” According to the report: “the possibility of an abrupt and globally damaging correction persists, since the depreciation of the dollar alone seems unlikely to be sufficient to reduce the global imbalances to sustainable levels in an orderly fashion.” The U.N. report further stated: “The global imbalance is between consumption and debt in the United States and ballooning surpluses in many U.S. trading partners.
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The Marxists and neo-communists advance, arm in arm, with radical feminists and radical environmentalists. They aim to destroy the free market. Marxist lies have percolated into the culture, leaving millions of citizens ripe for the propaganda of hostile foreign powers and terrorists. Our vaunted conservatives long ago congratulated themselves over the “death” of communism. Now they must sheepishly admit that communism is alive. Not only alive, but teaching our children.
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