It is going to be crashing China vs crashing US—a true race to the bottom.
“The fall of the US Economy”.
Another “accomplishment” for the idiot in the WH. Add it to the growing list.
It’s basically inevitable.
China owns our trillions in debt. The only way to keep them from owning the US is to dilute the debt by printing, printing, printing. Either way, we got screwed by our ‘representatives’ in DC. The first nails were hammered by Bush and Obama with the stimulus and bailout bills, and it was finished by Trump and especially Biden with the covid stimulus/bailout money-for-nothing spending.
The BRICS nations are moving to destroy the dollar as reserve currency.
It will happen.
This will give Biden and the WEF crowd all they need to implement a digital currency.
China does not have a healthy economy, and I am still not convinced that
BRICS is going to turn out to be what they hoped it would be.
Nope. China is in trouble too, demographics take a long time to reverse. Meanwhile: The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).
(Wiki)
All we need is less stupid in D.C.
Whoops.
This guy was THE MAN in the banking world for a very long time.
Not all of his financial forecasts have borne out, but he’s known for predicting the 2008 housing crisis three years before it happened....
Not so sure that was some amazing analysis and seeing into the future. With the way houses were selling. Carter’s mortgage rules that were put on steroids by Clinton. House flipping that was bordering on the ridiculous. State income mortgages. Yeah....I don’t think anyone needed to be a brain surgeon to see where all that was headed.
This guy has a pretty interesting take on some things pertaining to China:
China Has 10 Years Left, Says Geopolitical Analyst Peter Zaihan .... https://www.youtube.com/watch?v=ED_yPDdqG5Y
Sadly,
I think he’s right.
Not because I feel some way, but because there are real indicators that this happening.
In the last 2 years, other nations have divested of ~400 billion in US securities.
In the next 6 or so years, mainland China (PRC), will pass us in GDP.
BRICS is growing and it’s powers expanding
There is long term even the push for alternatives to the USD as the Petro currency (Saudi Arabia).
People just aren’t perceiving these things, but they are very real.
Our politicians don’t care because they are worried about local politics and only have a 3 year or less time horizon. The MSM isn’t coving this much because it’s not sensational, conflicted, some pop culture trash... But this does carry with it huge implications for us.
but China is Fake
China is a communist country, with an increasingly leftist leader
Its has a strictly controlled currency, trade and investment account. Any money put into China is subject to the whim of its leaders, and the swamp of it bureaucracy.
The US dollar will decline - for the same/similar reasons, but the world will NOT rush to put its money in China.
400 Million Customers was published 86 years ago.
It’s El Dorado. Still.
I think this guy is just trying to bump his poor investments.
Ping!
So his prediction is completely open ended with no time frame given.
p
Wilful Ignorance of Evil is a Luxury No One Can Afford
The Great Taking Takes EVERYTHING
well worth reading
.
Thank you Joe Biden.
And thank you politicians in general for wasteful, and wholly irresponsible, gargantuan deficit spending.