The stock market crashes. Oil prices swoon. American unemployment spikes. Large brand name corporations go bankrupt. Global confidence is at an all-time low. The Government spends billions on bailouts. And the dollar goes up. The dollar is still the key reserve currency. People all over the world need some value to believe in, a commodity that is backed up with some security; a certain store of value. Since the U.S. superpower appears to be too powerful to be replaced in the short term, and has always been good for payments on its debts, most people see the U.S. as the fortress of capitalism in time of crisis. In Brave New World Economy, Wilhelm Hankel and Robert Isaak show how "Obamanomics" can be a main proponent in saving the economic crisis if handled correctly; using America's consistent pattern in reinventing the wheel, to sell and market the new, to discover future in the present.
