The US is the highest income of the major industrial powers. Its military is the strongest in the world, by a country mile. Its corporations are household names around the world. Of the biggest 500 corporations in the world, American companies make 38% of the profits. Take out natural resource extraction and banks, and US companies would likely make the majority.
Re survival - Argentina has 100% inflation, and that's in a good year. It's surviving. Mad Max isn't on the horizon there, and no one thinks it is.
We fogeys tend to think in apocalyptic terms, that the end of the world is nigh. And for us, it is. Our body functions are breaking down, our joints hurt, our arteries are clogged, etc. But for the young, it's, as ever, morning in America. Apart from jealous rivals abroad engaging in wishful thinking, no one thinks the US isn't #1, let alone that collapse is on the horizon
That may just be "normalcy bias" - we're No. 1 and will always be no matter what.
We have proved to be more resilient than thought possible, but we cannot get caught believing we are indestructible.
We 're not sure where the edge of the cliff is, but that doesn't mean it's non-existent.
Looks like they forgot the African countries.
In actual terms a third world country in it’s own economy needs about 75% less money to function. Imports which cost up to 3-4x more cause imbalances for them. Thus they are headed into Brics where trade will be backed by gold, and away from the Western Over Inflated currencies. When 2/3s of the world are in Brics, and the 1/8th of the population in the West suffers the inflation that is coming, they will be less affected. The west is already stealth printing money, in additon to the 1T monthly since two months ago in the US. Biden Admin has printed 1T quarterly since elected - now it is more than that every month. Our Debt was 35T the last time I checked. The money you have in the bank today will only be 25% in two years.
We will be sitting around patting ourselves on the back for having the biggest financial economy in the World, and dollar value is growing at 12% a year thru printing alone. The joke is you America.
In actual terms a third world country in it’s own economy needs about 75% less money to function. Imports which cost up to 3-4x more cause imbalances for them. Thus they are headed into Brics where trade will be backed by gold, and away from the Western Over Inflated currencies. When 2/3s of the world are in Brics, and the 1/8th of the population in the West suffers the inflation that is coming, they will be less affected. The west is already stealth printing money, in additon to the 1T monthly since two months ago in the US. Biden Admin has printed 1T quarterly since elected - now it is more than that every month. Our Debt was 35T the last time I checked. The money you have in the bank today will only be 25% in two years.
We will be sitting around patting ourselves on the back for having the biggest financial economy in the World, and dollar value is growing at 12% a year thru printing alone. The joke is you America.