The Global Minotaur

Minotaur: - Minotaur’s  is a mythical creature portrayed during classical antiquity with the head and tail of a bull and the body of a man. Who
kills the peoples to eat or for surviving.

In our context/topic the minotaur’s role played by None Of the Other the only U.S. , for whom the hegemony of its own is the most concerned topic
ever or superior than any other thing. The Global Minotaur US, forms policies & plans just to maintain its own hegemony in the world no matters
what are countries are paying for its position.

The Global Minotaur

The global plan dissolved around 1971 as a result of the rising costs of the  Vietnam War and domestic social programs transforming the USA from a surplus
nation to a deficit nation. The increased quantities of US dollars on the global market gave rise to inflationary pressures and political turbulence that ultimately led
to President NIXON announcing in 1971 that the dollar would no longer be convertible to gold, bringing about the end of the Bretton Woods era. As the global plan fell
apart America took on the role of a 'Global Minotaur'. America was now a deficit nation with a significant trade and budget deficit, which it was able to maintain due to the
flow of capital from the world's surplus nations into Wall Street.

US was unable any longer to maintain reasonably balanced international finance and trade flows, America was planning for a WORLD of rapidly accelerating
asymmetrical financial and trade flows.

To afford it the exorbitant privilege of running up boundless deficit, and thus to entrench further us hegemony not in spite of but courtesy of its deficit position . By
choosing to filing the world economy into a chaotic yet strangely controlled, flux- into the labyrinth (भूलभु लैया) of THE GLOBAL MINOTAUR.

America began importing as if there were no tomorrow, and its government splurged out and unimpeded by the fear of increasing deficits. So long as foreign investors
sent Billions dollars every day to WALL STREET, quite voluntarily and for reasons completely related to their bottom line, the United State’s twin deficit financed by the
world . In contrast, the tribute of capital that fed the global minotaur flooded into the US economy voluntarily. Why? How did us policy makers persuade capitalist from all
over the world to fund its deficits? Answer turns on the four factors or THE MONOTAUR’S CHARISMAS.

THE MONOTAUR’S CHARISMAS did their job as under mentioned:-

 First the status of the dollar as the world's reserve currency, and as the currency in which energy was denominated.
Once Bretton woods was no longer, the psychological shock occasioned by the idea that currencies would soon be allowed to float freely created as stampede towards
the dollar. Furthermore, the US is the only country where demand for its currency does not just reflect an increase in the demand of its goods and services it produces.
Because, even if no American companies are involved, primary commodity sales are dominated in dollars. Therefore, every transaction involving in OIL & COAL results
in additional demand for US $ dollars.

Second, rising global energy costs due to OPEC-led price increases damaged the competitiveness of America's economic rivals.
In the early 1970s, Us economy imported only 32.5% of its Oil demand, While Europe & Japan were fully dependent for oil on Imports. Increasingly the energy price
damaged the relative competitiveness of Germany & Japan vis-à-vis the UNITED STATES. Now US enjoying the market demand with their low costs products.
Moreover the oil price hike linked with the US multinationals and thus higher prices lead to higher profits and thus strengthening of their capacity to diversify
internationally. As for the non US producers, the dollar’s reserve currency status coupled with Volker’s huge interest rates, magnetized the ptero dollars (dollars from
petrol) to the WALL street At New York. The Global Minotaur’s Brilliance Deserves To Be Marvelled at because the Germans & Japanese who obtained the profit by
shifting their investing plans away from energy intensive activities: they invested that in WALL STREET.

Thirdly, cheapened labour in USA in the 1970s saw corporate profits rise and made American companies attractive to investors.
In this new conflictual environment, corporate America discerned a wonderful opportunity to lid on real wages and to strive for simultaneous increase in productivity. In a
country that prided itself on the fact that at least since the 1850s, real wages had risen steadily to give their workers a good living of standard. To this day, they have
not even recovered their 1973 real purchasing power. Unsurprisingly, Us labour costs per unit of output hardly grew between the 1985 and 1990, a period in which
America’s main competitors saw cost increased by double digit percentages. Beyond 1990, America’s labour costs simply maintained their advantage. The Real wages
fallen, labour cost per unit remain stagnant and productivity increases takes PROFIT TO THE SKY.

Finally, America's geopolitical might, frequently employed in support of American corporations, again encouraged investment. These factors collectively
ensured sufficient capital flight into America to allow it to sustain its new position as a deficit nation, with this flight itself acting as a 'peculiar' global surplus recycling
mechanism. American geopolitical power was crucial to the Minotaur’s maintenance, the Minotaur often returned the favour. Indeed a persuasive case can be made that
it played a major part in the defeat of the American greatest foes- the Soviet union and its satellites, as well as these non aligned.

Arguably the chain of events that led to the implosion of communism in Poland & Yugoslavia began in the 1970s with the sharp rise in interest rates soon after the
countries had accepted offers of a substantial loans from WESTERN FINACIAL INSTITUIONS. It was a similar story in the THIRD world countries. Once they realized
their grave dependency on “Capitalist Enemy”, they gave their all to repay debts as quickly as possible, imposing particularly hash austerity measures on their own
workforces. In the meantime and for similar reasons, THE THIRD WORLD debt crisis erupted. The IMF happily offered to land money to governments to repay the debts
but at an exorbitant rate: the dismantling of much of their public sectors, the shrinking of newly found state institutions, and the wholesale transfer of valuable public
assets to WESTERN companies.

IN short, the interest rate rise that was part and parcel of the GLOBAL MINOTAUR’S own rise to prominence proved more effective in destroying the enemies of US
Foreign policy around the globe than any military operation the US could ever mount.