Wednesday, August 23, 2006
The US Empire Is Broke
"Indeed, what prompted George Bush's recent Asian trip was no new political initiative but, crudely, a search for money. With US net foreign debt of over $4,000bn (£2,110bn) now approaching 40pc of GDP, and a current account deficit of more than 6pc, the US is reduced to seeking financial support from China, just as Britain was obliged to go cap in hand to the US after the Second World War."
