This is nonsense.
1) German banks are rumored to be broke and are held up by vast sums borrowed from the Saudis + printing money. What happened was over the last 20 years the Germans lent low interest money to the rest of the EU countries spurring speculation in realestate, creating a realestate bubble and a spending bubble that popped around 2008 or shortly there after.
2) The EU is effectively broke as a whole, they are treading the debt water trying to support their social programs while neglecting defence and spurring native population growth. They make nothing except condos and paper and have sold off most of their industries to China.
One blip and the EU is in deep trouble. Actually, just sanctions for the US would break them because the EU is a consumer and a high price manufacturer, there are very few places in the world where they can sell anything except the US.
3) Japan is in an even worse place with the same economic situation and an extremely aging population all the while sitting next to the Chinese and North Korean nuclear insanity.
4) The rest of the world is an economic disaster that cannot afford to buy anything, they all make their money selling to the EU, USA, commonwealth and Japan.
5) People think American economic problems are real. They are not. They are artificial by virtue of leftist takeover of a good portion of our institutions. What is really happening is American institutions are PURCHASING an economic slowdown by paying the demand side to sit at home and do nothing. However, what the left CANNOT do without military intervention is prevent the supply side from sopping up any demand side slack. And the reality in America is this: every jurisdiction that is open / has opened is doing EXTREMELY WELL. Demand is huge for everything in those jurisdictions and even restaurants are having problems finding workers.
The rality here is that if you look at the raw debt numbers the entire whole of the world is in way worse shape than the USA. If you look at the military and global risk exposure, the entirety of the world is in the worse shape than the USA. If you look at the trade imbalance alone, all the USA has to do is start to squeeze the trade imbalances just a tiny bit and all of the worlds countries like show up on their knees (except maybe Russia, they are the real deal) begging to suck off America on American terms.
The reality is that the rest of the world will go down way before America does.
People love to shit on America, but that is based on hatred and not on the reality of the economic fundamentals of the country. Pick any country in the world and it is WAY WAY worse than America ever could be.
// EDIT: People generally talk about Germany as this beacon if excellence. There is a lot to be said for the Germans, but they are no saints. Witness: https://www.youtube.com/watch?v=ivACzzW5wyA
If you were to unravel the German story fully, I would not be surprised to hear all kinds of shennanigans. They are masters of the wizard behind the curtain pulling the strings.
I wish I could give you more than one upvote. Very compelling argument you make there, I’m just not so sure that I’m as optimistic as you about how quickly America could recover if it got rid of its retarded covid restrictions.
My main concern is with the amount of money printing going on: we’re looking at a scenario where over half of all US dollars will have been printed in the last 2 years... what comes after that? Digital currency that’s monitored by the government?
Crazy times, man.
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