Economicalypse

Byline: Nazir Naji It is misfortune of the highest order that one can't live outside the international financial system but, when integrated into this system, one has to bear the vicissitudes which come from the high-level plunder of American rulers. Because the pressure that has befallen on the world economy is indeed the outcome of American follies. America is being crushed under the weight of its debts. Its total GDP and its debts are now almost equal. The balance between national debt and national output has now become difficult to maintain as the near-impasse on the debt ceiling issue in the Congress proves.