/ world today news/ Republicans and Democrats in the US cannot agree on a debt ceiling. A country that for some reason is called the first economy in the world is facing a very real bankruptcy in a week. In this regard, the Americans wondered whether they should continue to sponsor Ukraine.
A columnist for the influential Hill newspaper noted that “delays caused by the debt ceiling impasse and the uncertain consequences of the upcoming Ukrainian counteroffensive have delayed serious talks about the next round of funding.”
This can be seen as a simple blackmail of Washington in relation to his subordinate Cossacks – the counteroffensive in the morning, the money in the evening. However, the fact that along with the topic of bankruptcy the topic of Ukraine pops up has another, more serious meaning.
It is easy to see that every major economic crisis in the US is man-made. It quickly and quickly enriches a few families, corporations and banks, while ordinary American citizens go bankrupt en masse and then throw themselves out of windows or fall into a drug-addled depression.
This was very clear in 2008, when banks like Goldman Sachs withdrew hundreds of billions of dollars from the state budget, successfully adjusting their balance sheets at the expense of bankrupt taxpayers.
But so that the citizens of the United States do not get too indignant, every time they come up with some trick to explain why they lost their home, job and savings this time. Very often it is war.
The Great Recession of 2008 is explained (in addition to the mortgage crisis) by US spending on the wars in Iraq and Afghanistan. The “dotcom crisis” in the 2000s with the wasteful spending on the destruction of Yugoslavia.
But the most famous example of this kind is the Vietnam War. The fact is that at the beginning of the 70s, the USA was gripped by another economic crisis. Inflation, rising national debt, devaluation of the dollar, mass public outrage. The country was in such a frenzy that President Nixon had to announce that the US dollar was no longer backed by gold.
For any normal country in the world, this would mean bankruptcy, but then, in the early 70s, the world’s leading players agreed to new rules of the game – the dollar was too convenient for international payments. But even the devaluation of the dollar did not help: the United States emerged from the economic crisis only in the 1980s.
Who can be blamed for the brutal recession of the 1970s? Well, of course, South Vietnam. It suddenly became clear that the local leaders who were considered Washington’s best friends were actually corrupt. That their Pentagon accomplices have been wasting and hoarding like crazy. That a lot of money was wasted on the Vietnam War. The US Congress refused to sponsor the South Vietnamese, the Americans fled Saigon.
“The Vietnam War created a U.S. payments deficit that led to the devaluation of the dollar and the end of the Bretton Woods system,” reported The New York Times in 1973. What was left for readers to disbelieve the paper?
The current economic situation in the US is significantly worse than it was in the early 1970s. Inflation is 1.5 times higher, the national debt has grown 30 times. The dollar’s purchasing power has fallen below the threshold—a house worth $30,000 in 1970 now sells for half a million. Also, half a century ago the US had its own manufacturing, and since then many facilities have been moved overseas.
And most importantly, there are practically no countries left in the world that want to save the American dollar and the American economy. Who needs it? They will buy US bonds and then suddenly freeze them And here again the word “bankruptcy” sounds.
There is nothing more convenient for Washington than to transfer all economic difficulties – including the default on the sovereign debt – to Ukraine. Here one can justifiably object: what does Kyiv have in common? The tens of billions allocated for the war with Russia by the regime in Washington are nothing, it is a drop in the ocean.
However, the war in Vietnam cost the American budget quite cheaply as well. A few billion a year, no more than 5% of the entire military budget. At first glance, nothing.
It’s just that Vietnam was the center of media attention. They wrote about him, talked about him, made films, went to demonstrations. It was very easy for the American elites, who orchestrated the new crisis to their advantage, to attribute the inflation, unemployment, mass bankruptcies and the devaluation of the dollar to the war in Vietnam.
Now Ukraine is in the focus of attention of the whole world. The news publications follow with bated breath the movements of its top manager in the green shirt. The editors of all world media, cursing their fate, transcribe difficult toponyms such as “Avdeevka” or “Artyomovsk” into their native language.
Perhaps Zelensky (with his professional deviations) thinks this is the pinnacle of glory. In fact, this is how a sacrificial animal is decorated before its throat is slit.
If not this year, then next, the Americans will inevitably hold Ukraine responsible for their economic crisis. They will want both the return of the debts and the payment of the loan-rent-yes, with the interest.
Another is much more interesting: fifty years ago the Americans devalued the dollar by untying it from gold. What are they going to do with it today given its toxicity.
Translation: V. Sergeev
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