It seems no matter what the US does these days we are a step behind. European and Asian countries seem vastly ahead of (even in their respective global slowdowns). They have been sitting patiently the last decade as we have pigeoned holed ourselves as a society. When the time was right they struck by buying up our car dealerships at steep discounts.
Looking forward it seems we are in for scary times. Today in Russia leaders of the four largest emerging market economies discussed ways to reduce their reliance on the United States. The dollar at some point is no longer going to be the favored global reserve currency which makes you wonder where we are headed.
There is hope though with Obama. Though some people doubt his spending patterns I feel its neccesary to fix a broken system, we can no longer patch up holes. The foundation needs to be recreated though its a tough road ahead Obama can re build the foundation.
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