"LOOK MA, I TOLD YOU OBAMA WOULD BRING CHANGE"
Boys and girls you all know what a banana is, but what if I add the word republic to banana, now can you say "Banana Republic." Now boys and girls can you tell me what nation is the largest "Banana Republic"? Lets look at wikipedia, boys and girls.
Banana Republic is a pejorative term for a country that is politically unstable, dependent on limited agriculture (e.g. bananas), and ruled by a small, self-elected, wealthy, and corrupt clique. It is most commonly used for countries in Central America such as El Salvador,Belize, Grenada, Nicaragua, Honduras, and Guatemala, as well as countries in Eastern Europe.
Now add the USA, the term has been used by the economist Peter Schiff to describe our continuing devaluation of the U.S. Dollar, in fact Peter Schiff states, "America is officially a Banana Republic."
Today, George Will in his piece, "The Toxic Assets We Elected,"
compares America's Use of Inflation to devalue China's Assets just as Banana Republics have done:
"Another embarrassing auditor of American misgovernment is China, whose premier has rightly noted the unsustainable trajectory of America's high-consumption, low-savings economy. He has also decorously but clearly expressed sensible fears that his country's $1 trillion-plus of dollar-denominated assets might be devalued by America choosing, as banana republics have done, to use inflation for partial repudiation of improvidently incurred debts."
So Wikipedia, here is another edition to your Banana Republic list, add the United States of America, one thing the USA can embrace proudly, is the fact we are the Largest Banana Republic.
-Lex Rex
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