Loading ...I didn’t bother reading the whole story, because its already in my head, and just skimmed it, and it looks pretty accurate compared to my views and observations. Where the author got the info? I don’t know. Maybe word spread from my old posts on Vronsky’s Gold-Eagle and here GoldTent, surprise me.
Note: The second blow, was directly related to the first blow. (not in the story) The 9/11 attack was in the middle of a recession from the dot com bust.
To prevent the attackers from getting satisfaction for crashing the US economy even further, The Fed and banks gave no documentation 105% liar loans to buy houses, buy a temporary boom, so the banker Bozos delayed the economic crash to 2008. Confirmation I was right on 9/11/01.
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First blow to globalization: 9/11 and its aftermath
The first body blow to globalization was the al-Qaeda terrorist attacks on New York City and Washington DC on September 11, 2001. The immediate reaction was a global effort to find and eliminate al-Qaeda.
Tragically, the U.S. government’s subsequent decision to invade Iraq and the attempt to export democracy to that country, as well as to other countries in the Middle East was not just overly optimistic. It was misguided.
That’s how what was billed as a nation-building and democratization campaign morphed into the “endless war.” At home, this war has long lost the support of most American citizens. Abroad it made the United States look like a paper tiger in the eyes of many in the rest of the world.
That’s also when the main champion of globalization started losing its credibility.
Second blow to globalization: Global financial crisis
The next body blow was the “global” (mostly Western) financial crisis in 2007-08. It erupted in the United States just as clearly as the COVID 19 pandemic erupted in China.
The contagion from the U.S.-made financial crisis spread almost as quickly as the virus made in China.
For the 2010s, the global financial crisis ushered in a period of uncertainty about the resilience of the global financial system, with its attendant economic fallout, just as much as the Coronavirus exposes deep flaws in the architecture of the global public health system, which in turn deeply impairs economies around the world.
The fallout from the financial crisis went well beyond forcing governments everywhere to reconsider their financial links to the United States and building defenses against another crisis of this kind.
Trump’s anti-globalization platform
This brings us to the election of President Donald Trump in November 2016 on an openly anti-globalization platform.
The list of anti-globalization measures adopted by the U.S. government in the four years since then is long and well known. Withdrawal from the World Health Organization is just the latest such step.
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