By Fareed Zakaria
The International Monetary Fund’s latest World Economic Outlook makes for gloomy reading. Growth projections have been revised downward almost everywhere, especially in Europe and the big emerging markets such as China. And yet, when looking out over the next four years — the next presidential term — the IMF projects that the United States will be the strongest of the world’s rich economies. U.S. growth is forecast to average 3 percent, much stronger than that of Germany or France (1.2 percent) or even Canada (2.3 percent). Increasingly, the evidence suggests that the United States has come out of the financial crisis of 2008 in better shape than its peers — because of the actions of its government.
Perhaps the most important cause of America’s relative health is the Federal Reserve. Ben Bernanke understood the depths of the problem early and responded energetically and creatively. The clearest vindication of his actions has been that the European Central Bank, after charting the opposite course for three years with disastrous results, has adopted policies similar to the Fed’s — and averted a potential Lehman-like collapse in Europe. (Mitt Romney’s two most prominent academic advisers, Glenn Hubbard and Gregory Mankiw, seem to recognize this, but Romney apparently doesn’t. As recently as August the Republican presidential nominee repeated his criticisms of the Fed and promised to replace Bernanke at its helm.)
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Regardless of all the jokes about.. "how could anyone still be 'undecided' now so close to the presidential election"…..,
it is because, ALTHOUGH both candidates have acceptable economic plans/visions for the US, what keeps me 'undecided' is:
??? Should I just give President Obama more time….because there are 'signs' that the US economy is 'turning the corner' into more positive territory. Perhaps allowing President Obama four more years/re-election will result in President's Obama's vision/ policies to come into full fruition.
??? OR……perhaps Mitt Romney's planned economic policies could result in a FASTER/sooner/ better recovery?
BUT, 'faster and sooner' recovery may NOT be possible and I want to guard against the typical US thinking of "I want it NOW" mentality.
By the way, the German people, undisputedly one of our world's most educated/knowledgeable societies,
believe it would be disastrous if Romney wins the election….and I have received that opinion 'first hand' .
Indeed, it's up to the American people to decide. Yet in a democracy, voters wouldn't be held responsible for their wrong choice of candidates, but leaders will to be blamed for their wrong actions.
Yes, world leaders do dread the idea of Romney being elected. That "I want it NOW" mentality is short-sightedness and could be suicidal.
Fareed, you're right, it wouldn't be fair, that someone else should reap the fruit that this administration had sowed. Obama had inherited a mess and he has made progress and deserves a second term.
clara, obamas plan???? acceptable???? sorry ..nope....as far as the german peoples opinion? what??? go read some history..........
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IMF/US to credit loans for Global Agricultural and Food Security Program to poor zones.
A focus on agricultural.
Fareed Zakaria and Mitt Romney with President Obama to credit loans to Mr.Igiri.B.Umeh.
IMF and U.S government congratulations.
World Economic outlook makes for gloomy reading.
President Obama's vision in four years.
Mitt Romney and President Obama planned U.S economic policies.
World Trade Organization(WTO) now control world economy.
WTO now control world economy,fate and future. The fate the so-called Doha.
The role of the United Nations in the 21st century.
The UN following the millennium summit of the United Nations on the theme Doha Development Agenda.
J. Von: Are these the same world leaders who are dreaded by their own citizens?
The mentality is more like " I want something. . .period." Democrats are more likely to cling to the "I want it now" immediacy of modern life.
Obama and Mit Romney on the race .
U.S government under rubric of much vaunted millennium globalization development.
America is an increasingly polarized society.
The difficulties that President Obama.
Global Economic chains.
President Obama block global economy over four years.
Why sending too much on politics.
London G20 summit and Washington G20 summit promised for economic since 3rd April 2009.
US and Britain economic aid.
Why Obama?.
Mitt Romney to challenge Obama..said Mr.Igiri.B.Umeh.
America politicians both Obama and Mitt Romney to whatch Mr.Igiri.B.Umeh.
It is hard for international obervers of US to grasp that grips the country.
That threatens America's ability to solve its domestic problems .
And contribute to international problem solving.
U.S news focus.
U.S government play the game
Yes, America is getting back onto the right track! All the great American people need is just a little more patience, caution and cool-headed reason for right judgements. Hope and believe they live by conscience and reason based on which they overcame all the barriers and elect the first African-American as President of the greatest country on earth, the United States. Romney may deserve to be a presidential candidate, but he obviously lacks the most important philosophy on which America was founded. The US economic distortion had continued during the eight years of the Republican Bush Administration. It usually takes a long time to cure the distortion and bring the economy back on the right track. It cannot afford to go back to the past under a Republic Administration led by the wealthy insensitive to the hardships the low-income people are experiencing. It cannot afford to start the bad things again. President Obama is an honest, genuine, courageous, intelligent leader devoted to the philosophies and principles the American people have traditionally cherished.
I'm sorry, but you can not create wealth by printing money, and that's all Mr Bernanke has really done.
mit romney has some nice platform of government but i find him very conservative..
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