US pushes world to crisis - Economy Watch

PAKISTAN: The US Government is pushing the world towards a new crisis with its excessive printing of money in attempts to solve its budgetary and commercial deficit, noted an Economic Research Center here Thursday.

The director of Pakistan Economy Watch noted that this will only make economic recovery more difficult. The expert suggested that the US should not cover its failures by printing more money, but rather by cutting military expenses and putting an end to wars as a means of making profits.

In his opinion the world has already lost confidence in the sustainability of only one power facing the unprecedented registered loses. A country with its currency in an oxygen tent and that can not safeguard the peoples’ savings does not have the right to remain as superpower and less to keep the dollar as the main international reserve currency.

Mughal recalled that several countries are already calling for the establishment of a new international currency to protect the reserves. The dollar is not a solution any more, on the contrary, it is a problem, he insisted.

The situation is dangerous because apparently there is not a successor, he added. Islamabad, Friday, Prensa Latina