Remember all those people who claimed the world would be better off without America and our crass capitalist consumerism? You know, your sociology professor, that pot smoking boomer down the street and your Starbucks barista? Well, as you suspected, it turns out they had no idea what they were talking about. American consumption was driving the global economy including the emerging economies of China and India. The socialist European countries do not produce enough wealth to drive global spending.
Larry Elliot puts it best in his recent Guardian article on the plight of Asian markets:
Quite simply, the great engine of globalisation has gone into reverse. During the long boom, the US acted as the consumer of last resort: it sucked in exports from China and Japan. As China industrialised, it needed high-grade investment goods from Germany, and as prosperity spread in the world’s most populous country, there was strong demand for Japanese electronics, cars and consumer gizmos. Now that America has stopped spending, Chinese factories have closed. The knock-on effects of that are being felt in Tokyo and Hamburg.
In Japan, all the main industries are reporting decreases in exports of more than 40%. The big car companies – Toyota, Nissan and Honda – are really feeling the pinch: overseas sales by the transport equipment sector were down almost 54% on a year ago. What’s more, car sales are slumping everywhere: JÂapanese exports to North America, Europe and the rest of Asia were all down by more than 50%.
He of course goes on to claim massive spending by the government will change all this in truly (and I hate the word but it’s perfect here) leftarded fashion but his information points to the harsh reality of Obama’s stimulus package and why it will fail on a global level. As taxes “on the rich” go up and more people jump on the dole (and limited budgets) we will stop buying high end foreign goods (as we already have) and that will tank the rest of the world’s economies. Given how the world is reacting now I dread what will happen when-American purchasing power really drops. Right now big box stores full of imported goods are still crowded, come this summer when that merchandise isn’t moving things will get worse than they are now.
And now they’re pretty bad:
Russian bombers buzzed Canada during Obama’s visit. Defense officials think that was a test of Canadian security when “our security attention would be focused in Ottawa around the president’s visit.”
Anti-globalization protesters are planning eat the rich demonstrations in Germany. I assume they’ll bring a Guillotine for the rich who their spokesman has claimed benefited from Globalization while the rest of Germany “suffered” (by being kept men and women of the state) at the hands of “unfair” trade agreements.
German leftist groups are already destroying the cars of “the rich” in an arson spree. It’s only a matter of time before they torch people.
The new White House Budget Director told Neil Cavuto massive deficits were “beneficial” to America. A federal panel yesterday released a report calling for gas tax hikes and charging motorists by the mile for driving.
Strapped for cash and unable to combat the Mexican cartels, the feds are going to let states legalize pot if they want. It’ll be amusing to see the looks on legalization proponents faces when drug gangs don’t disappear, but begin legally setting up shop and destabilizing America as they did in Mexico. But hey, we can get high, who cares if the bodega down the street is burned and the owner’s daughters raped for not paying protection money to gangs, right guys?
Despite massive government intervention, U.S. and world economies are racing into depressions.
Meet our new Director of National Intelligence. Chas Freeman was the president of the Middle East Policy Council which published a textbook claiming Muslims discovered America before Columbus or the Vikings (and that the Iroquois were Muslims!) and runs a magazine known for viciously anti-Semitic propaganda.
Biden wants to destroy the coal industry, and thus most cities’ ability to have reliable power.
EU insiders are afraid that European countries’ attempts to save their own economies will hurt the “Eurozone” and are trying to stop them.
And of course gun stores can’t keep arms and ammo on the shelves. The Mrs. and I are in fact going to be spending the entire weekend putting food, water and ammo into our larder. No matter what happens now it’s pretty clear the world is slipping into chaos and the governments of the world are only making things worse.
Are you ready for that?
