I believe that I have figured this Financial Crisis stuff out at last.
The latest figures suggest that the "bailout" here is only a few percent of our GDP. The other countries' "bailouts" were 6x to 30x more than ours as a percentage of their GDPs. They are pissed and talking $hit.
The energy states had jacked up prices beyond competitive levels by indirect and political means over the last several years. This gave them a lot of dollars. Many of these dollars went into so-called sovereign wealth funds or their equals. Guess where they were invested?
The wars in Iraq and Afghanistan have been costly. International participation in these efforts has not been up to par.
Russia invaded and controlled Georgia to give us a bloody nose. We sent humanitarian aid in response.
The artificially inflated mortgage markets needed correction.
This is payback.
The rest of the world has now been forced to "pay" their fair share of costs to the global hegemony. The dollar remains king. We will not have reduced standards-of-living here in America. That may happen elsewhere though. We will have reduced standards-of-spending.
Despite some rhetoric to the contrary, energy independence with respect to hydrocarbons is technically achievable but not immediately and it will not last forever. There would be large monetary, societal and environmental costs. A mixed but maximized approach to conventional hydrocarbon recovery methods and alternative energy sources is necessary as a matter of national security.
New opportunities will be created for Americans and their neighbors as the United States rehabilitates and creates its 21st century infrastructure system across the country.
Life is good after all.