Monday, August 22, 2011

The Downfall of Ghadafi: What It Means

It's been a while since my last post, but I'm please to refresh my blog with news that Muammar Ghadafi, dictator of Libya, has finally been ousted from his base city Tripoli by rebels fighting against his rule since February.
This will mean a short-term boost in approval rating for Nicholas Sarkozy, leader of France, James Cameron (Britain) and Obama, for it was their decision to enact a no-fly zone and air strikes amid sizable opposition, with Dennis Kucnich (Rep. from Ohio) even saying Obama has committed impeachable offenses by breaking the War Powers Act (1972). This gives the main NATO leaders a chance to pitch their judgement and leadership as credible, and can potentially change the electoral landscape for Obama in 2012.
     Economically, this relieves pressure for Obama as well. Stocks have been extremely volatile recently, and warnings of a double dip recession add to decreased confidence and increased anxiety. As gas has been averaging around $4.00/gallon, the end of  the civil war (thus unstable oil supply coming from Libya) could mean cheaper oil, thus freeing up consumers' money for spending and revitalizing the economy.
    It will be interesting to see the effects this war and the ousting of Ghadafi have on world politics, and the world economy, but for now the outlook remains positive.


Sources:
http://www.nytimes.com/2011/08/23/world/europe/23europe.html?partner=rss&emc=rss

http://thecaucus.blogs.nytimes.com/2011/08/22/g-o-p-candidates-react-to-libya-with-caution-and-indifference/?partner=rss&emc=rss

http://www.cnn.com/2011/WORLD/africa/08/22/libya.lockerbie/index.html?eref=mrss_igoogle_world

http://www.cnn.com/2011/WORLD/africa/08/22/libya.war/index.html?eref=mrss_igoogle_world

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