Global Meltdown & Impact

The global financial crisis is in effect the American problem, exported under the ideological garb of globalization and effectuated primarily through the financial sector integration of various countries to the American financial sector. As someone put it brilliantly, the sub-prime crisis is actually the 'American loan mela carried out with other's money.' Till date, if American prosperity acted as an engine of global growth, from now on global economic recovery will follow American recovery. Naturally, the elevation of Barack Obama as the President of America and his ability to clear up the mess within the US -- which the world believes would act as the elixir of economic recovery across continents -- explains the fixation of the entire globe with these elections. Put pithily, world economic recovery is linked, in more ways than one, to the American recovery.

Obviously, the trillion-dollar question remains. What are Obama's prescriptions to fix the global economy?

How does he propose to deal with the global imbalance caused by flawed currency valuations?

How does he seek to fix the lack of confidence in the US economy -- and by extension the global economy which is in a state of unprecedented crisis?