Global Capitalism and The New World Order

After reading Stiglitz’s Freefall and Soro’s The Crisis in Global Capitalism, some are saying that the deterioration of the economy will continue worldwide.  With the shifting of the financial systems private debt to public debt, it is beginning to look like the New World Order will acquire complete power over sovereign states in the next few years, starting with the economies of Portugal, Italy, Ireland, Greece, and Spain, then European nations, and likely the US before their quest for world government and control is complete.

One friend commented that it will only be about 8 to 10 years before the debt burden will crush the Western World to its knees.  “The bankers will win out, as I don’t believe our Congress has the fortitude to bite the hand that feeds them.  Obama has sold us out to Wall Street through Geithner and Summers.”

Wow, this is pretty pessimistic.