A World Economy
Rundown—In Verse
Japan is slowly sinking in a rising sea of debt
Germany is moribund, its people whine and fret
In France the hopes for rebound, have now begun to pall
While in other EU nations, there ain’t no hope at all.
Once fearsome Asian tigers have today gone mostly toothless
In spite of governmental efforts absolutely ruthless
Yes, China’s moving forward but its growth’s no great sensation
And progress in old India still trails population.
All Sub-Saharan Africa is at the beggar’s door
Poor Pakistan’s a basket case, poorer than before
Russia’s modest upswing hasn’t reached its huge interior
Just ask the freezing citizens of far-off east Siberia.
Great Britain is no longer great, in fact its ossified
A Middle Eastern oil boom may soon by war be fried
Turkey’s bet its future on a shakedown of our Sam
And you needn’t even ask how things are going in Iran.
If Eastern Hemisphere’s awash with markets gone to seed
Most nations in our Hemisphere are equally in need
Venezuela’s nasty schisms could soon make that place pop
And a battered Argentina is an even bigger flop.
Mexico is on the rocks, its exports in a funk
Brazilian bonds are shaky, and most are rated junk
Do business down in Panama or down in Costa Rica?
That’s only for the true and hardened graft-corruption seeker.
In one sense all these woes, of course, are ripples on the fringes
It’s U.S. economic strength on which the whole game hinges
A spurt in this one country, could balance off the rest
While weakness here, makes progress there, a nearly hopeless quest.
So how’s our Uncle doing? What’s our present situation?
Alas, the best that can be said is calling it stagnation
A spike in unemployment shopper confidence is harming
And debts racked up by Washington are getting most alarming.
Trade deficits are soaring; so, too, are oil prices
While states and cities strive to meet a multitude of crises
As markets sink from day to day the riders on this tide
See futures turning bleaker, feel investing’s darker side.
Few experts see in all these things a true worldwide recession
Even fewer dare to hint they could bode world depression
But ask yourself while pondering this economic text:
With a nasty Gulf War looming now—what’s likely to come next?
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