(Regularly Updated)
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INTRODUCTION:
Not much unlike what happens in earthquakes where the tectonic plates rearrange to reach a new more stable position, also occurs in the world markets integration process, once certain potential forces are unleashed. It's just a natural phenomenon beyond human control. Globalization brings all this about. These changes can either be traumatic if human interference is strong or so subtle that they pass unnoticed whenever there is enough freedom for these forces to act.
The present traumatic crisis is the result of too much government regulation which created the bubbles in the housing and commodities markets:
EFFECTS:
The potential energy accumulated disorderly in the international financial system because of these obstacles and then freed itself with a stronger dynamic force in the form of the present world markets shocking trouble.
RISKIEST CURRENCIES, COUNTRIES:
---The ones that are the most centrally managed!
---Those that are the most indebted!
---Those whose systems are experimental (artificial or utopic).
STRONGEST CURRENCIES, COUNTRIES:
The ones that have the most liberal markets!
MYTHS:
--The International Financial System failed and will disappear!
--The United States of America is going under!
PROSPECTIVE OUTCOME (Three World Scenarios):
likeliest:
likely:
Unlikely but possible:
CONCLUSION:
After this "historic" crisis ends, the International Financial System will be more efficient and fit enough to accomodate the next profound advances in the globalizing integration process. Human Progress will be achieved faster and economic welfare (hand in hand with democracy advancement) will become more globally ubiquitous. Equality should never be the ultimate objective though! Happiness is of course a more subjective term and should always be dealt with in another realm of discussion.
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