NAM is NAN - Non-aligned movement is Non-aligned No more. With many of the emerging powers except China, finding themselves with an opportunity to have a bigger say in world politics, a world still largely controlled by the West, the stage is set for a Muslim .vs. Rest of the world show down. I don't think it will result in an all out war, but just in case, you are buying gold right?!
First there was the bailout, then QE1 and a QE2 and a QE3(well we have stopped giving it a name, because it is the norm now). Obama is saying, I'll bring the jobs back, passes a bill and nothing happens why? because the new money is tracking easy money in BRIC markets and/or lost in bets or "rogue" bets as they are called, because only the big financial institutions can "borrow" this money, the small banks or business owners cannot afford to borrow this money or simply, they have no access this money, so who is to create the jobs that Obama envisions?
Given the current state of affairs, a Republican win will be assured if the party can put forward an extreme right conservative candidate who has no history with corporate lobbyist - but good luck finding one in Washington.
1. Stop printing dollars Nobody will miss the financial bankers if they went out of business, instead US capitalism will get its soul back. Companies with real assets which may face cash flow disruptions will be able to borrow against those assets. The Chinese, the Indians and actually the rest of the world would buy those assets directly or indirectly. Sure the economy would "shrink" but who wants a 14 trillion economy, when there isn't enough money for its 300 million citizens. 2. Increase corporate and personal tax in the high to middle income group. No this will not harm capitalism. The thinking that big corporations are the only source for innovation and therefore job creation is wrong, and for the some innovation that they do, it won't necessary create jobs in the US, because these corporations have offices outside the US. Instead game changing innovations always have come from engineers and academics, who always end up hiring "locally" because their need is immediate and managing remote resources is a waste of time. And yes when they want capital there will be private investors and then there will be American citizens who will participate in the IPOs and secondary markets, and yes this will help America and Americans reap the rewards of "their" innovations. Yes big financial institutions can underwrite and play with derivatives, with their own money here as well.
And yes I said the West in the summary, but really who cares about Europe, Germany will reign things in, if and when things get out of control.