The sun in sinking in the West
Good afternoon everyone. Honorable adjudicators and the worthy members of this house, I on the behalf of the government would like to state that the house resolves that the sun is sinking the west. Let us first see what all these words mean.
Sun is the star that is the source of light and heat for the planets in the solar system. In fact, sun has made life possible on earth.
Humans have long recognized the Sun's role in supporting life on Earth, and as a result many societies throughout history have paid homage to the Sun by giving it prominent roles in their religions and mythologies. Sun is thus symbolic of power, prosperity, growth and dominance.
To sink means to fall or descend to a lower place or level.
So when we say that the sun is sinking, it symbolizes loss of power or dominance and slowing down of the rate of progress and growth.
The West is a generic term referring to the Western world, or Western culture or civilization. It can have multiple meanings dependent on its context (e.g., the time period, or the regional social situation). Accordingly, the basic definition of what constitutes "the West" varies, expanding and contracting over time, in relation to various historical circumstances.
The West was originally defined as Western Europe. The definition of Western changed as the West was influenced by and spread to other nations. The West expanded to include Russia when Peter the Great brought back ideas from France. Since the Age of Discovery and Columbus, the notion of the West expanded to include the Americas, though much of the Americas have considerable pre-Western cultural influence. Australia, New Zealand, and, sometimes, South Africa are considered part of Western culture due to their former status as settler colonies of Western Christian nations.
The west basically refers to the countries of Europe, North America and South America.
So when we say that the sun is sinking in the west, it implies that the era of dominance of the western countries over the world is slowly coming to an end. They are losing heavily on their economies, social values, political ethics, growth, development, so on and so forth. Why and how that is happening, we’ll get back to that.
Let’s begin with a little bit of geography here. Why do you think the Sun rises in the east and sets in the west?
Well, the Sun, the Moon, the planets, and the stars-for that matter, all rise in the east and set in the west. And the simple geographic reason for the same is that the Earth spins -- toward the east. And this, is ladies and gentlemen, metaphorically the most pertinent fact of the current era.
After aeons of dominance of the Western countries over the world, the planet has finally decided to spin – towards the east. And as a result, the sun has begun to sink in the west.
There are many perspectives to the sinking of the sun, though inter-related. Let us first pick up the economic one. What has happened to the US economy?
The indicators pointing towards the slowdown of the US economy are becoming stronger and clearer with the passing of each day. The US economy is contracting, or as some economists put it, has already moved into a phase of economic depression.
The American economy is negatively impacted by many factors, all at the same time- the sub-prime crisis, the housing collapse, a long drawn credit crunch and an oil crisis of magnitude that has not been seen before.
With the US in deep trouble, even Europe has started to significantly slow down. South-American economies like Mexico and Argentina, which are largely dependent on the American economy, are also experiencing large scale contraction. So whole of the west has gone into a deep economic crisis.
Let us begin with the sub prime crisis in the United States. I would want the worthy members of this house to recollect the magnitude of losses reported last year by many banks and financial institutions in the United States that were exposed to sub prime loans in the home financing sector. Sub prime refers to those borrowers to whom the loans had been sanctioned though they did not meet the stringent credit requirements of the banks. Because of the significant exposure of US banks to such sub prime loans, and the crash of the home prices in the US, the contraction of the overall US economy that followed, there were a series of defaults in such loan repayments that made many of these banks go bankrupt. The first bank to come up with the bankruptcy was Lehman brothers, which gave a big shock to the whole world. Then came Merill-lynch, another big blow. Then came AIG, followed by Morgan Stanley, and the Washington Mutual. One after the other, large banks of the US have disclosed losses worth billions of dollars.
The US government, already with a deteriorating financial condition, ridden with a weak currency, with failing financial institutions, is fighting the recession in the economy. The best way to describe today’s US economy would perhaps be to say that it is going through a phase of stagflation. It is experiencing inflationary pressures, along with a stagnation of the economy.
A badly hit area because of all this happens to be employment. As of today, 9.4 million Americans are jobless. The unemployment rate has been increasing and has touched the high of 6.1% this month, over last month’s 5.7%. Over the past 12 months, the number of unemployed people has risen by 2.2 million.
All over the country, you will see people wearing signs that knock to the bottom of the claims of the so-called American Super Power. People wearing signs that read, "Will work for food.", "No Job, No Food, No Hope." They don't even bother to add, "No Home." In Santa Fe, N.M., where several hundred homeless individuals have staked out places to sleep, there is a sign under a bridge proclaiming, "This is a home." Former vice presidential candidate Geraldine Ferraro remembers a little girl she saw near a shut-down Pennsylvania steel mill, holding up a sign: "My daddy needs a job."
The overall economic growth for the year 2008 is expected to be only around 1.5%, which is the lowest this country has seen since 2001. The alarming situation of the US economy surely needs an urgent check. But why do you think they landed up here? Where did they falter?
Good afternoon everyone. Honorable adjudicators and the worthy members of this house, I on the behalf of the government would like to state that the house resolves that the sun is sinking the west. Let us first see what all these words mean.
Sun is the star that is the source of light and heat for the planets in the solar system. In fact, sun has made life possible on earth.
Humans have long recognized the Sun's role in supporting life on Earth, and as a result many societies throughout history have paid homage to the Sun by giving it prominent roles in their religions and mythologies. Sun is thus symbolic of power, prosperity, growth and dominance.
To sink means to fall or descend to a lower place or level.
So when we say that the sun is sinking, it symbolizes loss of power or dominance and slowing down of the rate of progress and growth.
The West is a generic term referring to the Western world, or Western culture or civilization. It can have multiple meanings dependent on its context (e.g., the time period, or the regional social situation). Accordingly, the basic definition of what constitutes "the West" varies, expanding and contracting over time, in relation to various historical circumstances.
The West was originally defined as Western Europe. The definition of Western changed as the West was influenced by and spread to other nations. The West expanded to include Russia when Peter the Great brought back ideas from France. Since the Age of Discovery and Columbus, the notion of the West expanded to include the Americas, though much of the Americas have considerable pre-Western cultural influence. Australia, New Zealand, and, sometimes, South Africa are considered part of Western culture due to their former status as settler colonies of Western Christian nations.
The west basically refers to the countries of Europe, North America and South America.
So when we say that the sun is sinking in the west, it implies that the era of dominance of the western countries over the world is slowly coming to an end. They are losing heavily on their economies, social values, political ethics, growth, development, so on and so forth. Why and how that is happening, we’ll get back to that.
Let’s begin with a little bit of geography here. Why do you think the Sun rises in the east and sets in the west?
Well, the Sun, the Moon, the planets, and the stars-for that matter, all rise in the east and set in the west. And the simple geographic reason for the same is that the Earth spins -- toward the east. And this, is ladies and gentlemen, metaphorically the most pertinent fact of the current era.
After aeons of dominance of the Western countries over the world, the planet has finally decided to spin – towards the east. And as a result, the sun has begun to sink in the west.
There are many perspectives to the sinking of the sun, though inter-related. Let us first pick up the economic one. What has happened to the US economy?
The indicators pointing towards the slowdown of the US economy are becoming stronger and clearer with the passing of each day. The US economy is contracting, or as some economists put it, has already moved into a phase of economic depression.
The American economy is negatively impacted by many factors, all at the same time- the sub-prime crisis, the housing collapse, a long drawn credit crunch and an oil crisis of magnitude that has not been seen before.
With the US in deep trouble, even Europe has started to significantly slow down. South-American economies like Mexico and Argentina, which are largely dependent on the American economy, are also experiencing large scale contraction. So whole of the west has gone into a deep economic crisis.
Let us begin with the sub prime crisis in the United States. I would want the worthy members of this house to recollect the magnitude of losses reported last year by many banks and financial institutions in the United States that were exposed to sub prime loans in the home financing sector. Sub prime refers to those borrowers to whom the loans had been sanctioned though they did not meet the stringent credit requirements of the banks. Because of the significant exposure of US banks to such sub prime loans, and the crash of the home prices in the US, the contraction of the overall US economy that followed, there were a series of defaults in such loan repayments that made many of these banks go bankrupt. The first bank to come up with the bankruptcy was Lehman brothers, which gave a big shock to the whole world. Then came Merill-lynch, another big blow. Then came AIG, followed by Morgan Stanley, and the Washington Mutual. One after the other, large banks of the US have disclosed losses worth billions of dollars.
The US government, already with a deteriorating financial condition, ridden with a weak currency, with failing financial institutions, is fighting the recession in the economy. The best way to describe today’s US economy would perhaps be to say that it is going through a phase of stagflation. It is experiencing inflationary pressures, along with a stagnation of the economy.
A badly hit area because of all this happens to be employment. As of today, 9.4 million Americans are jobless. The unemployment rate has been increasing and has touched the high of 6.1% this month, over last month’s 5.7%. Over the past 12 months, the number of unemployed people has risen by 2.2 million.
All over the country, you will see people wearing signs that knock to the bottom of the claims of the so-called American Super Power. People wearing signs that read, "Will work for food.", "No Job, No Food, No Hope." They don't even bother to add, "No Home." In Santa Fe, N.M., where several hundred homeless individuals have staked out places to sleep, there is a sign under a bridge proclaiming, "This is a home." Former vice presidential candidate Geraldine Ferraro remembers a little girl she saw near a shut-down Pennsylvania steel mill, holding up a sign: "My daddy needs a job."
The overall economic growth for the year 2008 is expected to be only around 1.5%, which is the lowest this country has seen since 2001. The alarming situation of the US economy surely needs an urgent check. But why do you think they landed up here? Where did they falter?
