Friday, October 26, 2012

If Mitt Romney Wins in November

It would seem to be that Americans have short term memory. If Mitt Romney wins - it is due to two primary reasons (1) short term memory and impatience of the American people, and (2) lack of acceptance that the world is changing fast, and that the economic landscape all over the world has change.

If Americans failed to be retrospective,  the economic cost to America and the world could be huge.
It was not long ago that America and some of its hundred years old financial institutions went to ruins under the policies of a Republican Pres. George W Bush. Everything and everyday, four years ago, institutions were going under and collapsing, there was even some talks it could have rivaled the 1930's economic depression, and that the US dollar could have collapse in value! Fortunately it happened in an election year, and before the worst came, and the expected nightmare came - Obama decisively halted the march to economic collapse, not just of America but of the world. Until today, the world economy is still in doldrums. 

Also worth noting that the costly and unaffordable wars (Gulf War in the 1990's) and recent (Iraq and Afghanistan) happened during a Republican Presidency. Enough Said.

There are many things to be said, but I will limit it to one point. I will exclude the point that it will be a "Mormon Presidency"; that in his term 47% could possibly be excluded or out of his priority; or that he will be a President who thinks "Syria is Iran’s route to the sea"; or the impact on Dream Act, and the anticipated changes to the Supreme Court.

The point: 

He promised to declare China as a currency manipulator on Day 1. Probably he plans to play an aggressive economic stand off with China, if not worse!

Now you have to tell me: if China decides to retaliate economically; what are its impacts to the US economy? To the Stock Market? To the World Economy? To World Trade, etc. etc.

What will happen if the biggest creditor, lender, investor, depositor whatever, decides to pull out from the US economy in retaliation?

There is definitely a better way than this self centered approach. I hope it is just a Romney's promise, if ever he wins.