USA Slips to #3 (2009 Fin. Dev. Rpt.)
Today I am flying the Fort Moultrie Flag. Is the USA headed from one of the most stable financial systems in the world to 3rd? Our economy is at risk, and therefore so is our Liberty.
Economics Risk Liberty
The World Economic Forum just came out with their 2009 “Financial Stability Ranking” List. The United States has fallen from 1st to 3rd in the world ranking. Australia and the United Kingdom are now ranked higher in financial development.
WEF Site: The report ranks 55 of the world’s leading financial systems and capital markets. It analyses the drivers of financial system development and economic growth in developed and developing countries to serve as a tool for countries to benchmark themselves and establish priorities for reform. The rankings are based on over 120 variables spanning institutional and business environments, financial stability, and size and depth of capital markets, among other factors.
Commodities Now: Now, with the publication of this, the second Financial Development Report, as leaders take stock of the efficacy of their actions, thoughts turn to the implications of this crisis on the assumptions on which our global financial system is based, and the legacy of this response.
The Bottom Line
Economy going DOWN!
The United States slipped to #3 on the (2-year old, and relatively new) Financial Development Report. Australia has now superseded the USA on this chart. As Commodities Now states, this rating is an indicator to world leaders how their policies are working in relationship to other national economies. At this point, the administration will continue to say “Its Bush’s Fault” … but they won’t be able to say that much longer.
Little wonder. We have unemployment of nearly 10% and therefore a stimulus that has not increased jobs. Our currency is worth less every day as we print money to compensate for the out-of-control spending of the Obama Administraation, backed by the Democrat congress. The result of these policies are beginning to show in the world economic mix … and the indicator demonstrated by the Financial Development Report for 2009 is not good.
What Indicator will it take to get the attention of this administration and congress that the USA, with thiese policies is heading in the wrong direction … toward the ranking of Obama’s good friend Hugo Chavez in Venezuela?
"Changing" for the worse?
