For more than three years have I been warning in this very space (http://politicaysentidocomun.blogspot.com/2009/04/una-larga-crisis-o-dos-crisis.html) on the enormous concern for the future of the United States. A circumstance which, far from change and dissipation, has deepened thanks to the authorities of the United States of America lead by President Barack Obama. Either they don't take warning of what's happened in all of the southern European countries who have spent more than what they have, or they simply don't even begin to understand the letter "e" in economic matters.
If this were a problem of a small island in the Caribbean, an African country, or even a larger country on the other side of the world such as Australia, this wouldn't have such a great importance for Latin America as a whole, or even for the large countries of the Sub Continent such as Mexico or Brazil, or even individual small economies such as Guatemala wouldn't be as affected and impact wouldn't be as significant.
But the case is that all the countries in America, with the possible exception of Cuba, yet including Venezuela, have a huge economic balance with the United States, which means that if the United States is doing well, economically speaking, it generates the ability to buy our products and it requires more labor in its own soil, including latin american labor. A healthy economy implies the expansion of business and it constitutes the most efficient way to allocate wealth by means of wages, commissions, utilities, fees and all those things that come into existence when humans are capable of generating productive work.
Weakness in the economy of the United States translates into layoffs, starting with a minority that earn the highest wages, and continuing with the weakest link of those who earn the least, which are a majority and the group in which most of the productive force of latin americans will be affected. Aside from this, trade of fruits, vegetables and manufactured goods will fall like never before, hitting hard on international prices and generating, in turn, layoffs and losses in our own economies.
That is why now, that we find ourselves days away from renewing the authorities that define the future of this great country, and understanding that President Obama has done an acceptable job within democratic parameters, we have to go out and state that the part of disarming the dangers of a prolonged economic crisis (such as the one I wrote about in that article three years ago), instead of dedicating the appropriate diligence and care, the economy has been not only handled with ignorance but also irresponsibly and ill lead. The debt of the country, which I announced as a threat of a second crisis, has reached gigantic proportions never before seen in history, a debt permissive of spending that which they don't have.
The electorate has all the freedom that the democratic process guarantees, but the problem is that not all voters realize how, in every election, they are lead like a heard into a slaughterhouse. Everyone has their mind set on election day, November 6th, 2012; yet few think about the future that's at stake for the years 2014, 2016, 2023 and beyond.
When the actual debt of the United States, which is so hard to simply read and even harder to understand its amount; when it reaches those levels at which the ever treacherous risk qualifiers will place it in its proper place, interest rates that allow them to acquire debt will be doubled, tripled and even quintupled. The entire country will fall into that downward spiral of its credibility facing its creditors, with China at the head of them. And then the path to recovery will be too late.
We shouldn't place in a bottomless bag the statement that four more years of President Barak Obama imply that the debt of the United States reaches 20 trillion Dollars (right now its close to the 16 trillion mark, if anyone cares to explain that amount).
The risk of nuclear war lead the Western Hemisphere to live under a grey cloud, for decades, despite an air of freedom, but the risk of bankruptcy for the United States, Greek style, Portuguese style, Italian or Spanish style, is a reality that's pending to pass the bill as time progresses and things keep being done in the same way.
Nota del Autor: a solicitud de varios amigos procedo a publicar la versión en inglés que finamente me hicieran llegar, por la importancia del tema. RFA.