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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 ...
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."
Please be sure to thank a Democrat for this...
Isn't that the year the stain will finally leave the "white" house?
Add another “own goal” for the Free Trade Uber Alles crowd.
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.....
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)
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?
And we’re planning on getting rid of all the grifters and freeloaders..... how?
Yay?
Prediction: this event horizon will be massively underreported if the Kenyan is still in office when we cross.
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.
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.
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.
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
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.
And Donald Trump may be the only one with the guts to take this on.
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.
Sorry it started with Clinton, Bush only made it worse and Obama hasn't got a clue...
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