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by Eric J Taylor

Created on: October 03, 2008   Last Updated: October 04, 2008

The failure of the United States banking system is a by-product of the American culture. That culture, as seen in the eyes of the population of the rest of the global community, is one of extremes. We see signs of extreme violence (in both real life and entertainment), extreme obsession with guns, extreme religious ideals and extreme greed. While the world economy is influenced by the failure of these banks and the lives of the people of other countries directly effected, it is the responsibility of America to repair their problems.

Having watched the actions of the United States for 50-years from Australia, a country seen as a small, but well developed ally of America, I have observed the United States has a history of attempting to "assist" other countries in fixing their problems. I have also noted that such attempts have consistently shown the same results, that of failure. The United States have proved beyond doubt that the only way that change can occur within any country is by the population of that country seeking and providing that change, change from within.

A bailout of the American financial system by other countries will not change the state of American culture. The concept that "Greed is Good" will continue. We, the other countries, must place our efforts where they are most required for the benefit of our own populations. Our responsibilities must be directed into the preservation of our own economies in these troubled times. If the actions of the American culture lead to the fall of the United States as being the largest economy and watchdog of the world, then so be it. The world as a whole may be a better place.

Just as history has shown that extreme Communism has failed as an economic system, future generations will learn that extreme Capitalism is an equal failure. There is a place in all economies for free enterprise and a place for legislative control and management. The population of the United States must now direct their governments to make such changes, to elect politicians that are not obsessed with such greed. Such changes will take many years and cause much pain, but the survival of the United States will depend on these changes.

Other countries of the world may have been party to the current financial crisis in which we now all find ourselves, but much of the cause of this crisis has generated from actions and leads that originated from American culture. We do now live in a global community where communication around the world can be instant, but the lives of each community must be controlled by that community. Just as the United States should cease interfering in the economies and politics of other countries, the rest of the world must stand back and not be involved in the economic rescue of America.

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