Posted on 01/17/2012 1:19:15 AM PST by Bon mots
As west sinks, eastern economies soar
A few years ago, it would have been difficult, if not impossible, to imagine European leaders, begging bowl in hand, turning to China for a financial bail-out. Equally, few would have predicted that Chinese leaders visiting Washington would publicly berate US policymakers about their mismanagement of the world’s biggest economy. But the world has changed. The implosion in 2008 of the financial system in the US and Europe and last year’s European sovereign debt crisis have accelerated the shift of economic momentum to Asia.
In 2012, the US and Europe are likely to be flirting with recession for much of the time. Barring a hard landing in China, Asia-ex Japan should continue to clip along nicely at around 7 per cent, according to most economists.
What Capitalism?
Confiscatory tax rates at around 50% in most western democracies, taxation of all assets, unions, regulations, an overpaid government sector (nearly 20 million in the USA alone).
They call this mess Capitalism?
Places which have laissez faire capitalism (laisser faire in British English) do not have such problems.
Can I say it?... Is it possible?....
That America NEEDS 4 more years of Zerodamus?...
Romney is, you know, Zeros Plan “B”...
You do know that.............. don’t you?..
Just heard on CNBC. China may decouple with the Dollar in 18 mos.
It is not Capitalism that is in trouble. It is the Welfare State. Capitalism does just fine if left alone. The Welfare State is out of money and can’t borrow any more. Yet it’s constituencies are too strong to simply give way to less spending. Everyone wants their share of spending that was based on borrowing that isn’t available any more. They refuse to accept any cutback. They believe someone else needs needs to sacrifice. Our society is going to go to war against itself over the next couple decades to determine who bears the brunt of paying for this mess. It won’t be pretty.
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