Posted on 03/28/2023 8:13:01 AM PDT by McGruff
The India-based Megh Updates platform, one of the world’s largest online informational platforms in terms of views, has stated that BRICS countries have officially overtaken G7 in share of world PPP GDP, and that this trend can be expected to continue. The BRICS currently include Brazil, Russia, India, China and South Africa, while the G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union.
The BRICS is also expanding – Bangladesh, Egypt and the UAE have all just joined the BRICS New Development Bank, with numerous other countries poised to do the same.
A real shake up is also to be expected these coming days with Mexico, long part of the North American free trade bloc NAFTA (now superseded by the Canada-United States-Mexico Agreement (CUSMA) agreement) poised to join BRICS. That will be seen as a direct affront to Mexico’s US relations and a sign that global economies, even on America’s border, are having serious doubts about the US ability to trade on fair and equal terms.
(Excerpt) Read more at silkroadbriefing.com ...
It WILL be good news if it forces these G7 countries to grow up.
Well, they aren’t emerging economies then, right? No more special treatment, foreign aid, etc.
Deficit spending by the US has let to world wide inflation. Between that, and our imperialist wars, the rest of the world is deciding to drop the dollar.
Ukraine is the straw that broke the back.
Inflation is nothing, compared to what’s coming when nobody buys US Treasuries.
It’s not good news and just wait for the real economic trouble to begin when global oil trade is conducted in denominations other than our $SD
The dollar will slowly or rapidly cease to be the world Reserve currency. This will eventually prevent the US from printing money like it grows on trees. That means big budget cuts, including Social programs and Defense.
Most of the G7 countries are dismantling and disabling their own economies by forcing compliance to ridiculously strict pollution standards. So, we’re cutting our own throats by pandering to The Greens. Brics countries don’t have that problem. They don’t allow Green obsessions to destroy their rate of output.
The Saudi’s and Iran are all but in, Argentina has all ready applied, Mexico is coming, and I think the nail in our coffin will be Turkey - the first so-called NATO ally to bail.
They’ve already nailed down the African continent.
Then the Asian block start selling off their U.S. treasury notes (or demanding full payment).
Then you’ll see a bunch of others (e.g. the rest of South America) running for the exits.
This isn’t a black pill, folks. This is just what’s been happening while we’ve all been naval gazing about Trump’s arrest, and Zelensky’s wardrobe.
Economically, find something to hold on to - it’s going to be a rough ride.
just my $0.02
IMHO, that 'full faith and credit' has been horrendously abused. Think of what Trudeau did to the Canadian truckers on an international scale.
Without apparent recourse, that void is now being filled. That's what incompetance/bad behavior gets you.
Turkey is just waiting for Russia to peter out because of this Ukraine debacle, then they will control the Black Sea, and make their move on the rest of Europe.
India is a national security partner of the West and the US.
China has no real allies. The Vietnamese just forced a chinese navy ship out of Vietnamese Exclusive Economic Zone, that China has no rights to, but claims.
The only Imperial powers are Russia and China, who are both illegally annexing land in Europe and the Pacific.
“This isn’t a black pill, folks. This is just what’s been happening while we’ve all been naval gazing about Trump’s arrest, and Zelensky’s wardrobe.
Economically, find something to hold on to - it’s going to be a rough ride.”
But didn’t Blinkin say that exporting LGBTQRSTUVW+ was the USA’s main mission?
I suppose the rest of the world doesn’t agree.
But we use the correct pronouns and actually believe that we can live with only Chinese solar cells and windmills. So....neener neener.
Your post seemed intelligent until you got to this point. How does someone demand full payment on a U.S. Treasury note before it matures?
And if you sell it at maturity, you don’t have to “demand” anything. You get the full face value.
I saw that the island of Manhattan has GDP of $690 billion.
That’s 40% of Russia’s supposed GDP
What does the Island of Manhattan produce, really?
GDP is a highly flawed statistic.
“Most of the G7 countries are dismantling and disabling their own economies by forcing compliance to ridiculously strict pollution standards. So, we’re cutting our own throats by pandering to The Greens.
Brics countries don’t have that problem. “They don’t allow Green obsessions to destroy their rate of output.”
Their plan to establish a gold backed cbdc will topple the dollar from petrodollar status, and result in severe damage to the U.S. economy. Inflation will soar as central banks dump no longer needed dollars on the market, and the stock market will crash accordingly.
Having patched up their differences in an alliance of convenience, Iran and Saudi will join the party too, delivering a final blow to US financial hegemony.
This can all be reversed with the right political leadership.
When Trump is once again President we can “Drill, baby, drill”. The last time he was in we became the world’s largest petroleum producer. This, along with the reinstated Keystone XL pipeline (force EPA and DOJ to accelerate it) filled with Canadian oil, can reestablish our oil dominance. BTW, want cheap American oil? Pay us in dollars.
Then let’s have a Manhattan project-level plan to reindustrialize, with modern techniques and highest-level technology, our industrial base and get off China’s economic heroin. Don’t subsidize stupid solar and windmills—subsidize American chip manufacturing! If this means zero taxes for companies making stuff in the USA—let’s do it! New workers will make up the tax revenue and get young people money.
Lastly, our military. Let’s remake it without the Woke BS, concentrating on defending the USA, not warring all over the damn world!
Can we hold out for almost two more years?
Did you expect the source to downplay BRICS?
By the way, the CCP says the ROC belongs to the PRC.
You believe this? The CCP says it, therefore it must be true, correct?
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