As plunging stock markets expose the fallacies of the widely flogged “decoupling theory” (Google returns almost 65,000 hits for the query “decoupling + United States + economy”), it seems hard to disagree with the arguments of President George W. Bush (as channeled by The Onion):

While speaking to a group of White House reporters, President Bush fended off questions about the weak state of the dollar, the expected long-term deficit caused by Social Security and Medicare payments, and a faltering housing market by assuring reporters that the U.S. economy’s ability to have such a widespread negative impact on the world only further proves it is “easily the best.””Our recent credit crisis alone has been enough to depress share prices in Japan, Rome, China, and Brazil,” a smirking Bush said during a press conference Thursday.