Monday, 5 September 2011
Make no mistake about it; on its present course, global economic activity is likely to get worse before it gets better. There is a very real possibility that the woes of the eurozone will mushroom into a Lehman-style financial crisis in September or October of this year. Such a financial crisis initially would be euro-centric, but ultimately (and quickly) it would have global ramifications.
Most important, it would destroy what little confidence exists about the possibility of any kind of near-term economic growth. The United States and the entire western world would be looking at a 10-year slog to recovery and the very real possibility of what diplomats call "geopolitical instability" on the European continent.
What is needed now is something really big—a great notion that allows Americans a whole new view of their future. The idea that just might change everything is a merger between the United States of America and Canada. If President Obama proposed such a union, it could alter the trajectory of history and ignite an explosion of economic activity.
What would a United States of North America (or the United States of America and Canada) accomplish? Future energy needs: met. Food supply: 100-year horizon. Brainpower upgrade (for both countries): major. Improved education institutional base: instantly. Financial system stability: increased. Health care coverage: done (from President Obama's point of view). National security upgrade (for both countries): significant. Larger territorial presence: obviously. More vigorous trading partnership: on day one. The list goes on (and on).
Downside: Canadian Senators! Hey! Into every life a little rain must fall. Plus, we'll have to regard Canadians as our equals, which is of course preposterous, but again, rain is part of the weather. And the Quebecois? Irritating, I agree. But so what? It's all small beer. In 30 years, everyone will be American anyway. It's more fun.
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