The Wall Street Journal’ Market Watch site posted an article by Brent Arends (April 25, 2011) that stated the International Monetary Fund (IMF) has set a date for when China will overtake the U.S. as the most powerful economy in the world. They give us 5 years.
The article says, “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. “
Their analysis looks at the “purchasing power parities” which compares what we, the people, actually earn and what is spent in our respective economies.
Ten years ago our economy was three times larger than China’s. No more. The Journal quotes an unnamed European strategist as saying, “We are witnessing the end of America’s economic hegemony” [dominance].
The article is a real eye opener and I hope you read it: “IMF bombshell: Age of America nears end.”
Another brain shattering commentary, which is worth the hour long investment, is the “End of America” which was created by Porter Stansberry who has correctly predicted the collapse of other companies and banks. Read the Market Watch’s summary of this video and a link to the video here. Get your beverage and your popcorn ready, it is a long video and it is pretty much just a listening event since there are no pictures; it’s like a very long PowerPoint slideshow, but compelling all the same.
Big question: what do we do? Will our lives be affected? What will this change for us?