Thursday, November 24, 2011

The Card Cheat: Goodbye America

When things go away we forget them. America is starting to go away, and we are starting to forget all about it. Strange, but true.

Many people have commented on the situation in the US but few seem to understand just how bad it is. The US economy has been in serious difficulty since 2007. Indeed, it has been argued that this is the longest recession in US history as the Great Depression lasted "only" about 40 months.

In the mainstream media, it is frequently claimed that the US economy will be overtaken by that of China, India or Europe. Differing figures are giving by the IMF, the World Bank and the CIA but they all agree that the US is going to fall a couple of places. They are mistaken. The economic system in the US is inherently unstable because it relies on pretending that everything is ok. Once things start to unravel, people rapidly lose confidence, share prices fall, currencies collapse and assets are sold off. With this in mind, I predict that the US will fall into 10th place within a few years.

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