04-25-2011, 07:25
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#1
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RIP Quiet Professional
Join Date: Jun 2009
Location: The Ozarks
Posts: 10,072
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Age of America About to End
http://www.marketwatch.com/story/imf...me_latest_news
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Put that in your calendar.
It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.
According to the IMF forecast, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.
Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.
Snip
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"There you go, again." Ronald Reagan
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Dusty is offline
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04-25-2011, 07:36
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#2
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BANNED USER
Join Date: Jan 2007
Posts: 3,751
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Maybe China's economy will be bigger. But as the Australian instructor at the Advanced Coures (Career course to you youngsters) said about tanks in the wire, "So what?"
Is bigger going to trump more flexible or more responsible or (your adjective goes here)?
SO WHAT!!?? There are TANKS in the WIRE!!!
so what are you going to do about it?
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Dozer523 is offline
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04-25-2011, 07:41
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#3
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Quiet Professional
Join Date: Dec 2004
Location: Nashville
Posts: 956
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...had to happen..
Second rate Politicians = second rate government = loss of standing.
second world-----> third world.
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The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.
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To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.
Thomas Jefferson
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Blitzzz (RIP) is offline
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04-25-2011, 08:54
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#4
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SF Candidate
Join Date: Aug 2010
Posts: 101
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It's not surprising. We're responsible for our own undoing. How did we let this and this happen? Did we seriously believe that we won't live to see the consequences?
Guess the folks who made "Atlas Shrugged Part I" did their research:
http://patriotupdate.com/articles/at...1-movie-review
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"Жить стало лучше, жить стало веселее"
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John_Chrichton is offline
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04-25-2011, 08:58
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#5
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RIP Quiet Professional
Join Date: Jun 2009
Location: The Ozarks
Posts: 10,072
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New, competent leadership will help. 
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"There you go, again." Ronald Reagan
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Dusty is offline
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04-25-2011, 10:25
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#6
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Quiet Professional
Join Date: Aug 2004
Location: NorCal
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IMF economists have made many projections (predictions) over the last several decades and have written off many tens of billions of $$ worth of investments based upon those studies.
I'll wait and see; IMO making such comparisons between developed and emerging economies remains an ' iffy' proposition at best - and especially so in today's interconnected and turbulent global economic arena.
Reviewing the IMF doc (atchd) makes it all seem to me to be much less of the sure thing presented in the news article and maybe closer to an 'end of History' sort of declaration on their part.
Richard
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“Sometimes the Bible in the hand of one man is worse than a whisky bottle in the hand of (another)… There are just some kind of men who – who’re so busy worrying about the next world they’ve never learned to live in this one, and you can look down the street and see the results.” - To Kill A Mockingbird (Atticus Finch)
“Almost any sect, cult, or religion will legislate its creed into law if it acquires the political power to do so.” - Robert Heinlein
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Richard is offline
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04-25-2011, 20:32
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#7
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Area Commander
Join Date: Aug 2007
Location: Page/Lake Powell, Arizona
Posts: 3,402
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China's miracle is about to end.
Inflation is catching up with them.
Bernanke has been giving their inflation a little kick as well.
China will have to de-peg, and with it their mercantilism.
We'll be fine in this country, so long as we remain a net exporter of food.
People will trade anything in order to eat.
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Waiting for the perfect moment is a fruitless endeavor.
Make a decision, and then make it the right one through your actions.
"Whoever watches the wind will not plant; whoever looks at the clouds will not reap." -Ecclesiastes 11:4 (NIV)
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GratefulCitizen is offline
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04-25-2011, 22:21
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#8
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Guest
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Quote:
Originally Posted by GratefulCitizen
China's miracle is about to end.
Inflation is catching up with them.
Bernanke has been giving their inflation a little kick as well.
China will have to de-peg, and with it their mercantilism.
We'll be fine in this country, so long as we remain a net exporter of food.
People will trade anything in order to eat.
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...and energy.
China is building 60 new nuke site over the next 10-12 years.
China also own's no raw yellowcake/pellet mills.
Start investing is food distribution and water companies.
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04-26-2011, 09:55
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#9
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Quiet Professional
Join Date: Feb 2004
Location: State of Confusion
Posts: 5,861
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Quote:
Originally Posted by Dusty
New, competent leadership will help. |
That is a very true statement. I think a majority of the national voting base has been spoiled and corrupted by all of the free shit that congress has been giving out as they use the public trust to pay for their votes.
Unfortunately, it seems like it would have made more sense if you posted it in the humor section.
...competent leadership. hahahaha - good one
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Box is offline
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04-26-2011, 09:59
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#10
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Area Commander
Join Date: Aug 2008
Location: Southern California
Posts: 4,478
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Quote:
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New, competent leadership[.]
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In this day and age, can these two qualities be found together? (How long does it take one to learn to govern and to lead effectively?)
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Sigaba is offline
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04-26-2011, 10:55
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#11
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Moderator
Join Date: Feb 2004
Location: Central Florida
Posts: 3,045
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Quote:
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China is building 60 new nuke site over the next 10-12 years
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and they will probably work as good as their coal fired plants. Maybe I should open a radiation suit factory.
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"Are you listening or just waiting to talk?"
Light travels faster than sound. This is why some people appear bright until you hear them speak.
"Fate rarely calls upon us at a moment of our choosing."
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Kyobanim is offline
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04-26-2011, 11:21
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#12
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Quiet Professional
Join Date: Jan 2004
Location: Free Pineland
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Quote:
Originally Posted by Kyobanim
and they will probably work as good as their coal fired plants. Maybe I should open a radiation suit factory.
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I agree.
Here we have a country that cannot build jet engines trying to build reactors and scatter them nationwide.
What could go wrong here?
TR
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"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat." - President Theodore Roosevelt, 1910
De Oppresso Liber 01/20/2025
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The Reaper is offline
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04-26-2011, 11:34
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#13
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Quiet Professional
Join Date: Aug 2004
Location: NorCal
Posts: 15,370
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Quote:
Originally Posted by The Reaper
Here we have a country that cannot build jet engines trying to build reactors and scatter them nationwide.
What could go wrong here?
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Coming soon for your amusement - the new and improved Chinese Fire Drill...BIGGER and HOTTER and BRIGHTER than ever!
Richard
__________________
“Sometimes the Bible in the hand of one man is worse than a whisky bottle in the hand of (another)… There are just some kind of men who – who’re so busy worrying about the next world they’ve never learned to live in this one, and you can look down the street and see the results.” - To Kill A Mockingbird (Atticus Finch)
“Almost any sect, cult, or religion will legislate its creed into law if it acquires the political power to do so.” - Robert Heinlein
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Richard is offline
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04-26-2011, 14:31
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#14
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Area Commander
Join Date: Feb 2009
Location: Clay House Stuttgart, Germany
Posts: 2,665
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Quote:
Originally Posted by wet dog
...and water companies.
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Yep. 20% of the planet's fresh water sitting right here in the Great Lakes.
Last edited by mojaveman; 04-26-2011 at 14:42.
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mojaveman is offline
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04-26-2011, 14:48
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#15
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Area Commander
Join Date: Aug 2007
Location: Page/Lake Powell, Arizona
Posts: 3,402
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Time is not on China's side.
They are rapidly becoming more dependent on imports for food, energy, and many raw materials.
Those who export to them will take notice, and take profit.
http://static.seekingalpha.com/uploa...ependence2.jpg
The US is dependent on foreign crude, but not critically dependent.
We are fighting with one arm tied (arbitrary environmental restrictions), have a large strategic reserve, and much of our imports come from Canada and Mexico.
China's economy is very labor-intensive and the population is sensitive to inflation (particularly in food).
The dual problems of wage pressure and demographic decline may prove intractable.
The faltering of China's economy is a far greater threat than their economy surpassing that of the US.
The easiest way to placate over a billion disgruntled citizens is to provide them with a common enemy.
__________________
__________________
Waiting for the perfect moment is a fruitless endeavor.
Make a decision, and then make it the right one through your actions.
"Whoever watches the wind will not plant; whoever looks at the clouds will not reap." -Ecclesiastes 11:4 (NIV)
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GratefulCitizen is offline
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