The Largest Economy In The World Is Imploding Right In Front Of Our Eyes

TEC ^ | 12-7-2012 | Michael Snyder

[blam]

A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about? Not the United States - the economy that I am talking about has a GDP that is more than two trillion dollars larger. It is not China either - the economy that I am talking about is more than twice the size of China. You have probably guessed it by now - the largest economy in the world is the EU economy.

[Old Retired Army Guy]

Wonder how much longer before Germany loses patience and pulls the plug?

[canuck_conservative]

nobody seems to know what to do about it

Back to basics - live within your means?

[American Constitutionalist]

Good now, maybe the USA can get caught up now to them....

[American Constitutionalist]

" Back to basics - live within your means? "

Leather shoe soup and stinky socks stew ?

[MtBaldy]

That article summarizes exactly why this is probably the most important election of my lifetime.

Obama is a committed socialist/communist. He can look at the dismal record of socialism and believe he can somehow do it better. Plus I believe he has a deep visceral dislike of the United States and wants to see it fail.

Romney can not fix what is coming but he can take steps to mitigate the disaster and put the US in a strong position to come out of the malaise sooner and stronger than the European countries. That is of course if he has the balls, and cooperation of Congress, to do what needs to be done.

[SAJ]

With apologies to Billy Joel:

If the Eu-ro went a-way to-day
There would still be FX left to play.
But since it's still here,
Take a po-si-tion, no fear,
Short, and watch it tank out for the long-est time.

Fried-man said that Maas-tricht would-n't work
Then they staffed the ECB with jerks
You know Greece can't stay
And now the Ger-mans won't play
Eu-rope will suck hind tit for the long-est time.

May-be they could buy Span-ish bonds
Take the big hit and wave ma-gic wands.
May-be they could make a big bet
And buy Italian debt,
And say 3 "Ha-il Ma-ry"s.

Who knows how much fur-ther this goes on?
We won't be too sor-ry Eu-ro's gone.
The game's near ov-er
The shorts will sit in clo-ver;
We'll be cash-ing win-ners for the long-est time.

lyric © 2012, SAJ

[dynachrome]

From one of the commenters at the link:

“(Chris)Matthews uses his tongue prettier than a $20 whore.”

LOL!

[dynachrome]

oops. Wrong thread. that was from a zerohedge thread. Still cracks me up, though.

[TEXOKIE]

bfl

[PieterCasparzen]

Crazy facts:

A) Exports are currently about 10% of the U.S. economy. They are only a MINOR source of revenue for U.S. businesses and U.S. citizens.

B) Other nations that are civilized and not adversaries of the U.S. have economies much smaller than ours. The largest of them, Japan, has a GDP of about 1/3 the size of the U.S. Germany's is less than 1/4 the size of the U.S. Friendly nations are simply not big enough to provide markets large enough for our economy to see a lot of growth by exporting to them. And they are the largest in this category. These economies are as advanced as ours and therefore have similar growth rate prospects, so in real terms their sizes relative to ours will remain at best about the same as they are currently.

C) The regimes that run communist or other dictatorship-controlled nations are adversaries of the U.S., and they are all ingrained culturally with a desire to keep most of their population poor enough that they can be held in submission to their government. This means that large, lucrative consumer markets in these nations will always remain a mythical goal that is never realized by U.S. big business interests. While there is a cultural possibility for people living under such regimes to switch allegiances from wrong principles to right ones (as evidenced by the success of many immigrants from such nations to America), the ideology of communist thuggery does continue to deceive weak-minded people and thereby continue as a continuing threat to liberty. Such nations, truthfully, therefore, do not represent export opportunities but instead simply an adversarial relationship. The efforts of big business and the liberal intelligentsia are inadvertandtly, and in the case of the left, purposefully, pursuing trading with dictatorships of all kinds to the detriment of the U.S.

D) Muslim nations, even if the bulk of their population becomes wealthy, still culturally harbor antipathy towards Western civilization in general and America in particular. This is born out in nations that we see already - wealthy muslim oil regimes pretend to be our allies while funding and encouraging antipathy towards the U.S. and the West. Muslim nations will obviously never be real trading partners with the U.S. and the West, but simply barbarian states that would like to continue to hurt the U.S. and the West in any and every way they can, including everything from throwing rocks to missiles. The only workable long-term solution is complete de-islamification. Ridding the world of yet another murderous cult (YAMC) is the only way to stop it's murderous effects.

E) Those of European descent who populated what is now the U.S. are the pre-eminent cultural group of people who have the highest prevelance of a certain cultural mindset: the mindset where, in the face of institutional absurdity they will question, use reason to come up with improvements and take action to make corrections. While the majority of a population, of course, tends to "go along with the herd" even when the herd's mistake is rather easy to discern, a certain percentage will not do this. In Western nations, this percentage is higher than in non-Western nations, and in America this rate is highest of all. With a citizenry where the percentage of people "outside the herd" is so high, American society has enjoyed a key economic advantage for hundreds of years. Only since the mistake of not outlawing cultures and ideologies that at their core are at war with America has America seen significant rotting from within.

F) The Republican establishment that sides with big business and Democrats behind the scenes towards the objective of somehow making every other nation wealthy as a means to both more business revenue and peace between nations is an idea that, in their arrogance, they simply can do the simple arithmetic which illustrates just how wrong it is.

[Kartographer]

How about the US lending them a few Trillion?

[Marcella]

ping

[Marcella]

I read the whole article.

Simply put - this country is burnt toast. Eventually, everyone will recognize the burnt smell. By that time, it will be too late to prepare.

Prepare your small personal world so you have a functional one when the outside world collapses.

[blam]

"Prepare your small personal world so you have a functional one when the outside world collapses."

Yup.

Done.

[blam]

Why You Should Be VERY Afraid Of Inflation