The Autumny Summer of 2008

It appears that after the Breton Woods, the world is gearing to take the shock of the biggest financial crunch since the crash of 80s.
The Oil Crises of 1973 triggered a snowball of petro dollars with oil producing countries. However by 1989, it has been successfully converted into the debt of third world countries through institutional and state controlled borrowing and lending.
The Soras crash was short and swift. It proved how individuals blown by the winds of free market economy and liberalism could effect the nation states.

However controlling the biggest finance and brokerage houses, USA did not feel necessary to apply any checks. The power of SECP was marginalized in face of high speed computer simulations that promoted the finance houses to take more risks.

Today the crises places the Asian Finance Houses that had hedged investments in the US System through lending are likely to suffer most.

The cycle may lead to some constraints on liberalism as also test the existing alliances of major economic blocs.