Suchergebnisse

Discusses what problems were present in the world economy on a macro and a micro level, how it resulted in the financial crisis and how the authorities were trying to intervene in order to stabilize the situation. On the macroeconomic level Americans bought cheep Asian goods while printing a lot of money, but inflation was kept at bay since the money was sent to Asia. The circle was complete when Americans lent the money back from Asia and speculated with it. On the microeconomic level structured investment vehicles (SIVs) and asset backed commercial paper (ABCP) created problems especially when they were combined with collateralized debt obligations (CDOs) and mortgage-backed securities (MBS). The boom turned into bust after 2006 when there were not enough house buyers left. L. Pitkaniemi

This article presents the opinion that American exceptionalism has returned post 9/11. It is argued that Ronald Reagan's international relations during the cold war displayed the attitude that power is more important than intellectual, factual, historical, ideological, or moral obligations. The uses of power employed by Americans in international conflicts are compared to the uses of power employed by empires of the past. A historical exploration is included of the development of exceptionalist attitudes from the founding of the US in the 1700's, throughout the continual expansions of the 1800's and into the industrial and military power of the 1900's. It is further argued that American traditions during the early 1900's border on messianism, where the American people are the chosen people, and that Reaganism was a natural extension of these traditions, whereas post Reagan there was no need for American messianism or exceptionalism, and thus American Presidents sought a new world order where the US would participate in integrated global economics and politics in cooperation with other nations. George W. Bush's politics post 9/11 with its war on terror marked the return of American exceptionalism. E. Sundby