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IMF bombshell: Age of America nears end
Market Watch ^ | 4-25-11 | Brett Arends

Posted on 04/25/2011 5:32:43 AM PDT by tcrlaf

The International Monetary Fund has just dropped a bombshell, and nobody noticed.

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.

And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.

According to the IMF forecast, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.

(Excerpt) Read more at marketwatch.com ...


TOPICS:
KEYWORDS: america; china; economics; end; notbreakingnews
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"This is more than a statistical story. It is the end of the Age of America. As a bond strategist in Europe told me two weeks ago, “We are witnessing the end of America’s economic hegemony.”

We have lived in a world dominated by the U.S. for so long that there is no longer anyone alive who remembers anything else. America overtook Great Britain as the world’s leading economic power in the 1890s and never looked back.

And both those countries live under very similar rules of constitutional government, respect for civil liberties and the rights of property. China has none of those. The Age of China will feel very different."

1 posted on 04/25/2011 5:32:45 AM PDT by tcrlaf
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To: tcrlaf

Please be sure to thank a Democrat for this...


2 posted on 04/25/2011 5:34:05 AM PDT by tcrlaf (You can only lead a lib to the Truth, you can't make it think...)
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To: tcrlaf
2016???

Isn't that the year the stain will finally leave the "white" house?

3 posted on 04/25/2011 5:43:25 AM PDT by Logic n' Reason ("I'm an expert on life...after shit happens." (Dead Like Me))
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To: tcrlaf

Add another “own goal” for the Free Trade Uber Alles crowd.


4 posted on 04/25/2011 5:45:29 AM PDT by NVDave
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To: tcrlaf
Please be sure to thank a Democrat for this...

Now, now, hate to burst your bubble, but there are plenty of Republicans who can be blamed for the massive debt and deficit we currently face. Guys like the giant fraud Paul Ryan who not only authored the bill that brought us the single largest entitlement program (Medicare Part D) since the (not so) Great Society, but also voted for it, helping it to pass a Republican majority Congress and be signed into law by a Republican POTUS. He and his Republican cohorts knew full well when they passed Medicare Part D that the US gubmint did not have the money to pay for it. They knew full well the boomers would be starting to retire not long after it was passed and that the money would have to be borrowed or printed to just pay for it. Medicare Part D is now over $160 BILLION in the hole and sinking fast. I can cite at least a dozen more boondoggles just like this one off the top of my head, courtesy of elected Republicans. Just because someone has an "R" after their name doesn't automatically mean they are fiscally responsible.....

5 posted on 04/25/2011 5:48:32 AM PDT by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: tcrlaf
If we can get the senate and POTUS next election we can turn this around. Just watch.


6 posted on 04/25/2011 5:50:07 AM PDT by paulycy (Islamo-Marxism is Evil.)
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To: NVDave

The Chinese bubble is still a bubble, and they are very dependent on the consumer base of USA, EU, and to a lesser extent Japan.

America 2.0 is going to be a formidable force— (that is what will remains from the financial rubble of America as we now know it— a new leaner and more free America, and maybe smaller)


7 posted on 04/25/2011 5:50:26 AM PDT by RobFromGa
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To: tcrlaf

Before 2016 the commiecrats and Obama will have signed us up for agenda 21 and global communism. This will fail as well.Will we have to live through the NWO failure or will someone impeach Obama? Is the current GOP (other than the tea party freshmen)
for Obama’s plan of UNITY IN DIVERSITY AKA NWO with the UN?


8 posted on 04/25/2011 5:52:16 AM PDT by Dubya-M-DeesWent2SyriaStupid! (If Obama announced his resignation that would probably bring gas to $2.30 within an hour.)
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To: paulycy
April 24, 2011 The UN and One World Worship
9 posted on 04/25/2011 5:55:31 AM PDT by Dubya-M-DeesWent2SyriaStupid! (If Obama announced his resignation that would probably bring gas to $2.30 within an hour.)
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To: RobFromGa

And we’re planning on getting rid of all the grifters and freeloaders..... how?


10 posted on 04/25/2011 5:56:11 AM PDT by NVDave
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To: tcrlaf

Yay?

Prediction: this event horizon will be massively underreported if the Kenyan is still in office when we cross.


11 posted on 04/25/2011 6:00:15 AM PDT by CowboyJay
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To: tcrlaf
Evil prevails when good men do nothing.

And thank the GOP for letting Evil prevail by doing very little to stop the Rats. It is not out of order to suggest the GOP are complicit.

12 posted on 04/25/2011 6:04:27 AM PDT by deadrock (Be kind, for everyone you meet is fighting a hard battle. Philo)
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To: tcrlaf
Evil prevails when good men do nothing.

And thank the GOP for letting Evil prevail by doing very little to stop the Rats. It is not out of order to suggest the GOP are complicit.

13 posted on 04/25/2011 6:04:27 AM PDT by deadrock (Be kind, for everyone you meet is fighting a hard battle. Philo)
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To: Dubya-M-DeesWent2SyriaStupid!
traditional religions have an ethical obligation to cease to exist..

This is the essential mantra of the left. Everyone they don't like has an ethical obligation, in their minds, to kill themselves off.

There are not words to describe the self-centered, narcissistic, hubristic ego-manaiacal, tyrannical, fascist self-serving lust for power that this world view seeks.

It is pure evil. It must be eradicated.

14 posted on 04/25/2011 6:04:27 AM PDT by paulycy (Islamo-Marxism is Evil.)
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To: RobFromGa

Ever wonder why the MFMedia never writes about the implosion of the ‘China Economic Powerhouse’ meme? China is devolving into another Communist hellhole trap for the Western Corp fools; “A Cautionary Tale Of Outsourcing To China: There Is No Recourse, You Could Lose Everything”, http://www.manufacturingnews.com/news/11/0415/Fellowes.html


15 posted on 04/25/2011 6:04:50 AM PDT by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: paulycy

Or make it worse. Republicans share the blame for this mess. I don’t see where our friends in the “Country Club” have learned any lessons from the h*ll middle America has been through. They are probably champing at the bit for their next gluttonous feast at the public trough.


16 posted on 04/25/2011 6:05:24 AM PDT by jboot
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To: iopscusa

And Donald Trump may be the only one with the guts to take this on.


17 posted on 04/25/2011 6:06:44 AM PDT by dfwgator
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To: Thermalseeker; tcrlaf

agreed.

if more people can’t see past this party politics nonsense and start paying attention to principles instead, we don’t stand a chance.

for every finger pointed at a D, there’s another pointed at an R. do the Ds have a bigger share of the blame - almost certainly (imho), but really, what does that matter now? there is no “winner” when the battle is down to bickering.


18 posted on 04/25/2011 6:08:04 AM PDT by phi11yguy19
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To: tcrlaf
Please be sure to thank a Democrat for this...

Sorry it started with Clinton, Bush only made it worse and Obama hasn't got a clue...

19 posted on 04/25/2011 6:08:23 AM PDT by Doofer
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To: tcrlaf
Senate Rejects Move to Cut IMF Contributions (May 2009)
20 posted on 04/25/2011 6:09:16 AM PDT by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: DEADROCK
It is not out of order to suggest the GOP are complicit.

In a whole lot of incidences the GOP is far, far more than just complicit. It's right there in the voting records for all to see, although it is apparent that very few ever bother to look because there are still quite a few who base their loyalty to these cretins solely on party affiliation.....

21 posted on 04/25/2011 6:10:18 AM PDT by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: Doofer
Bless me father for I have omitted flatulance LUNACY IN CASE YOU MISSED IT

Penitent CNN Anchor Confesses 'Eco-Sins' for Earth Day

22 posted on 04/25/2011 6:11:31 AM PDT by Dubya-M-DeesWent2SyriaStupid! (If Obama announced his resignation that would probably bring gas to $2.30 within an hour.)
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To: tcrlaf

The IMF must have viewed the movie Atlas Shrugged.


23 posted on 04/25/2011 6:12:52 AM PDT by shove_it (just undo it)
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To: Thermalseeker
...there are still quite a few who base their loyalty to these cretins solely on party affiliation.....

Party first, what I can get from the Banksters second and America third...

24 posted on 04/25/2011 6:12:52 AM PDT by Doofer
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To: tcrlaf
"This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many."

-Barack Hussein Obama

25 posted on 04/25/2011 6:13:28 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: tcrlaf

The problem is that China is in every bit as deep doo-doo as we are. They are a house of cards. The thing is if they lose half a billion people, the rest will be like ‘more room for us.’ They just don’t care.


26 posted on 04/25/2011 6:13:28 AM PDT by Free Vulcan (Vote Republican! You can vote Democrat when you're dead.)
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To: tcrlaf

How’s that “free trade” thing working out, America?


27 posted on 04/25/2011 6:14:57 AM PDT by Cringing Negativism Network (Birther on Board)
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To: Doofer
Sorry it started with Clinton, Bush only made it worse and Obama hasn't got a clue...

Actually, it started in earnest with Woodrow Wilson (Federal Reserve, 16th Amendment, etc), continued under FDR (Socialist (in) Security, etc), and Johnson ((not so)Great society, Medicare, etc), Nixon (EPA), Carter, (NEA, DoE, etc). Clinton is a piker by comparison, even to Bush II......

28 posted on 04/25/2011 6:15:52 AM PDT by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: dfwgator

Palin and Bachmann have it in them. The media is currently investigating every word crook and crevice of Trump and his past words. If Palin or Bachmann can hurdle the media attack and the lack of support from the GOP we’d be okay.

Sadly Trump has the money to pass the hurdles but would he tell the UN to pound sand? Would he announce Hillary as his VP?

What is Trump’s real agenda? Is it to fix America before she sinks (as we all know the Clinton’s agenda mirrors Obama’s with a fake moderate sense of I feel your Pain) or get back at Obama for Hillary?


29 posted on 04/25/2011 6:17:34 AM PDT by Dubya-M-DeesWent2SyriaStupid! (If Obama announced his resignation that would probably bring gas to $2.30 within an hour.)
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To: tcrlaf
Please be sure to thank a Democrat for this...

First and foremost, you can thank the feckless Baby Boomer generation. While there are notable exceptions, they are America's failed generation.
30 posted on 04/25/2011 6:17:57 AM PDT by indthkr
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To: RobFromGa

IMHO, until the American people wakeup and politically destroy the current Democrat Party and anti-American. hate America, POTUS Barack Hussein Obama, we will continue the spiral downward at an brisk pace!!! As for America continuing to be a formidable force. forget it. Just the PRC (China) & India will alone provide the driving consumer growth to sustain their economies and add on the Pacific rim countries, Asia & Africa, Japan/Korea and the USA will disappear just like the Roman empire did. We, Americans have done this by our own free hand in pursuit of getting something for nothing!!! The moral, my fellow Americans is, there is no such thing as a free lunch!!! Wake up America or perish!!! The attacks on Pearl Harbor and on 911 killed thousands. POTUS Barack Hussein Obama and the Democrat Party are killing millions economically and destroying this great nation to boot.


31 posted on 04/25/2011 6:19:41 AM PDT by JLAGRAYFOX
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To: tcrlaf
Yes. When you vote for "change" as represented by a Democrat controlled Congress & a Democrat President, don't be surprised at the "change" you get.
32 posted on 04/25/2011 6:20:22 AM PDT by sjmjax (Politicans are like bananas - they start out green, turn yellow, then rot.)
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To: indthkr
Our only real hope


33 posted on 04/25/2011 6:21:37 AM PDT by Dubya-M-DeesWent2SyriaStupid! (If Obama announced his resignation that would probably bring gas to $2.30 within an hour.)
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To: DEADROCK

“Evil prevails when good men do nothing.”

It’s worse than nothing. Good men pay taxes, supporting and enabling the tyrants, looters, invaders, and parasites.


34 posted on 04/25/2011 6:22:21 AM PDT by 668 - Neighbor of the Beast (Bad posters drive out good; don't post and drive!)
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To: Dubya-M-DeesWent2SyriaStupid!
Palin and Bachmann have it in them.

I would suggest a much closer look at Bachman. You will find her "closet is full" so to speak, if you look. Frankly, I'm not impressed with her in the least, primarily because of a lack of specificity, aside from certain things in her past. She, much like Rubio, Brown and most of the others emerging now are saying the things a lot of people want to hear, but are very short on specifics. It takes a lot more to get my attention than being mildly attractive and being able to talk louder than anyone else in the room. Deeds speak louder than words.....

35 posted on 04/25/2011 6:22:53 AM PDT by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: iopscusa

China is not a miracle, it is a dictatorship with slave labor and good resources, it is highly reliant on markets for its output...


36 posted on 04/25/2011 6:23:05 AM PDT by RobFromGa
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To: paulycy

“If we can get the senate and POTUS next election we can turn this around.”

That’s a right big IF, pilgrim.


37 posted on 04/25/2011 6:25:10 AM PDT by 668 - Neighbor of the Beast (Bad posters drive out good; don't post and drive!)
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To: jboot
Or make it worse.

The Country Club pubbies seem like they make up their minds at the last minute based on nothing at all and could go in any direction whatsoever except the right one. That is what is so dangerous about keeping them in power.

They are worse than useless they are a whole gang of unpredictable elites with no common sense and no spine. The odds of them hurting our cause is much higher than that of them at least doing no damage. The odds of them helping is quite low.

38 posted on 04/25/2011 6:25:43 AM PDT by paulycy (Islamo-Marxism is Evil.)
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To: RobFromGa
China is not a miracle, it is a dictatorship with slave labor and good resources....

With one hell of a lot of help from the good 'ole USA......

39 posted on 04/25/2011 6:26:03 AM PDT by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: dfwgator

Trump is a buffon, but at least his big mouth will lead us to talk about some things that might otherwise not get discussed. There is a role for him in the primary fight.

I still think that we will see a Governor as our next nominee and it won’t be Romney or Pawlenty I hope, but Mitch Daniels or Chris Christie. We need someone extremely knowledgeable and articulate to fight this fight, and they need to have fire in the belly that they will do what is necessary to save America special interests be damned.


40 posted on 04/25/2011 6:26:57 AM PDT by RobFromGa
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To: 668 - Neighbor of the Beast
That’s a right big IF, pilgrim.

Oh, I agree with you there but we gotta set goals and work hard starting NOW if we're gonna get anywhere, especially with the crowd of pubbies we have to work with.

41 posted on 04/25/2011 6:26:59 AM PDT by paulycy (Islamo-Marxism is Evil.)
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To: tcrlaf

Seems it is the end of the dollar at least.

Look at Silver. Now over $48.00 in Asian trading overnight. See it in real time.

http://www.oilbull.com/metals-charts/silver/

Thanks Obama.


42 posted on 04/25/2011 6:29:29 AM PDT by bluefish (NoBama! Because Commies Suck)
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To: Free Vulcan

Not a little irony in that China’s strength is producing junk. US weakness is our obsession to buy said junk.
Someone in this thread took a shot at Boomer’s for being feckless. What generation sold the self-sufficiency and greatness of US manufacturing to places like China?


43 posted on 04/25/2011 6:29:55 AM PDT by Huaynero
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To: Thermalseeker

She is a tax attorney for the fair tax with independents liking her. So she is in poli talk; light years ahead of Palin.


44 posted on 04/25/2011 6:30:44 AM PDT by Dubya-M-DeesWent2SyriaStupid! (If Obama announced his resignation that would probably bring gas to $2.30 within an hour.)
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To: JLAGRAYFOX

I didn’t say that America would avoid a painful crash.

But I have hope that there will be an America 2.0 built on a firmer foundation (the Constitution is a fine start it just needs to be adhered to re the size and scope of the FedGov, and the relative powers of the States). Who has a better chance than the US to rebuild— we have all the basic building blocks we just need to ensure that we don’t destroy everything else when the dollar collapses.


45 posted on 04/25/2011 6:32:41 AM PDT by RobFromGa
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To: tcrlaf

The end of the “American Age” happened when a significant enough percentage of the population decided it would be neat to vote for “socialists” to transform our government and its institutions and even its laws into weapons for the statists to use against the free and sovereign people of the states.

I do not mourn the end of the “American Age” because it happened long before any of us was born. I look forward to the day we can finally stick a steak in the heart of this tyrannical monster. I have no loyalty to this corruption nor will I pledge allegiance to it. What was good is long gone and all that’s left is toxic to freedom.

For people who want to be free, this doesn’t have to be the end. We ALWAYS have the choice to carve out a home for ourselves and defend it aggressively. We just lack the WILL to do so. At least for now...

Think back about 10 or twenty years ago... What was your “line in the sand”? What did you need to happen before you would fight? Im willing to bet that most of those lines were already crossed. I know mine were... The last one and biggest was when the federal tyranny decided to take over the medical care of this nation and by default proclaim ownership over everyone’s health (meaning.. They finally own YOUR ass).


46 posted on 04/25/2011 6:33:40 AM PDT by myself6
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To: Dubya-M-DeesWent2SyriaStupid!

Oh yeah! Go WEST!


47 posted on 04/25/2011 6:35:41 AM PDT by b4its2late (Ignorance allows liberalism to prosper.)
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To: Dubya-M-DeesWent2SyriaStupid!

Dig a little deeper......


48 posted on 04/25/2011 6:37:56 AM PDT by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: tcrlaf
Thank your progressive liberal friends for voting for the usurper.
49 posted on 04/25/2011 6:39:47 AM PDT by Mozilla
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To: DEADROCK

“It is not out of order to suggest the GOP are complicit.”

That is, quite sadly, correct.

Frist and Hastert realized it was easier to try and create a Democrat-like Org system, with the payoffs, than it was to constantly fight against the Democrats media-supported agenda, and in the end, always losing the media wars.


50 posted on 04/25/2011 6:40:00 AM PDT by tcrlaf (You can only lead a lib to the Truth, you can't make it think...)
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