If a picture is worth a thousand words, one would require at least
that number to begin describing the many flavors of American culture.
It is said that it as American as apple pie. One would be doing it a
slight injustice if one didn't mention a Clint Eastwood western
classic or John Wayne's movies and a list of others produced by
Hollywood knowned world over. What would the world be like without a
Pepsi or a Ms. Spears? Does the ingredients make-up a much prescribed
panacea for life's stodginess, a vital part to an elixir of much
needed drama, liveliness, passion and vibrance that's lacking in our
lives, revelers in paradise or are we playing the most American of
games, catch-up?...

It's getting late
To give it up
I took a sip
From my devil cup
Slowly
It's taking over me

(from 'Toxic' Britney Spears)

Major economies in the world are predicted to slow in 2005 from the
healthy growth rates it had enjoyed in 04, that includes Britain,
Japan & the United States. Between January and February 2004, the BoJ
(Bank of Japan) spent 10.1 trillion Yen ($95 billion U.S. dollars)
in an effort to weaken(selling) its currency & buying up American
Treasury bonds. In March it sold an additional 3-4 trillion Yen. On
the flip side as a base of comparison the United States has by
optimistic calculations between $25-$50 billion at any given time,
liquidity available for a dollar support operations. By deduction
should the dollar find itself in the throws of a major discounting
complex, the United States will have to rely on others like it has
always done to alleviate the pressure on the dollar. Extraneous
circumstances, like a global slowdown may prevent such allied
interventions from continuing at the pace that it had without
incurring elevated risk.

The U.S. economy has taken-up quite a big risk in and of itself. By
latest estimates our trade deficit is hitting record territory
estimated at $650 billion for 2004(It pales in comparison to
historical deficits, even when Reagan was on a path to outspend the
Soviets to destruction. In 1985 the trade deficit was a mere $148
billion). What's surprising behind this number is China alone
accounts for 20% of that number. We've been veracious buyers of
Chinese goods to a tune of $130 billion, on credit!; fueled by foreign
money lenders; a financial agreement waiting to unravel once our
assets(the dollar and equities included)get discounted upon the
revelation and realization of risk in the minds of these lenders of
our ability to pay our them back.

We're no longer a nation of builders and creators of widgets, but one
of binging consumers. We've just gotten a seat assigned to us, the
U.S., the record is playing; in a game of musical chairs; succumbed
to the temptation of the devil's cup to consume. Last but not least
it it worthy to note that although Ms. Spears was alluding to a
different world in her rendition the participants of these age old
plays are essentially the same... creatures of habit with our vice
and virtues.

Stay tuned for Part III