In a battle for world supremacy for economic stupidity America’s Paul Ryan is taking on Angela Merkel in a battle for the ages. While Ryan is only one of 435 Representatives in the U.S. Congress he has become the intellectual leader of the party that gave us the $3 Trillion Iraq War, the huge Bush tax breaks for the wealthy, the unpaid for prescription drug benefit for Big Pharma, and unleashed America’s investment banks so they could sell paper crap around the world and bring the world economy to its knees. Having participated in creating a recession that barely missed becoming a depression, Ryan is now regaining his strength with Mitt Romney, much of the American press and virtually all of the so-called Tea Party singing the praises of the Man Who Would Destroy the American Economy as an homage to his heroine, Ayn Rand. Ryan’s austerity budget has even managed to create a negative response from elements of the Catholic hierarchy – a group normally focussed on how best to reduce women’s power.
Across the Atlantic Angela Merkel serves as Ryan’s powerful competitor for the title of Master/Mistress of the Recession. With the help of France’s embattled President, Frau Merkel has managed to force Greece, Spain, Portugal, Italy and Ireland (the list will surely increase) to adopt economic austerity policies guaranteed to force most or all into a lengthy recession with devastating unemployment rates, low or no actual economic growth and a near suicidal commitment to doing more of what demonstrably does not work in order to avoid admitting to their mistakes.
Ryan and Merkel have so far avoided being compared to David Cameron whose ongoing commitment to economic disaster seems to have been missed by much of the press, but that could change at any time as Britain has entered its second recession in four years. But before Cameron can be allowed into the field he must rid himself of the attention given to his love affair with Rupert Murdoch which has greatly diminished the attention given to his disastrous economic policies.
The next several months will determine the success of Ryan, Merkel and Cameron as they struggle – each in his or her own way – to bring national economies to their knees. The U.S. election, the budding resistance to Merkel’s stubborn commitment to folly among other Euro zone countries, and the shakiness of of the Conservative-Liberal Democrat ruling government in Britain will play out as the three head for the finish line in this race to the bottom.