April 25, 2011, 7:20 p.m. EDT IMF bombshell: Age of America nears end Commentary: China’s economy will surpass the U.S. in 2016 By Brett Arends, MarketWatch This column has been updated to include a reaction from the IMF.
BOSTON (MarketWatch) — The International Monetary Fund has just dropped a bombshell, and nobody noticed.
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.
IMF sees China topping U.S. in 2016 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. Brett Arends looks at the implications for the U.S. dollar and the Treasury market.
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 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....................>>>>......................>>>>............................http://www.marketwatch.com/Story/story/print?guid=25965F12-6D1A-11E0-8CAB-00212804637C
Good job government just keep printing more money and borrowing more money from China and this country will be just like Venezuela.
Just as long as people get their gub'met checks, the Democrats don't care. Just as long as Corporations and the rich get their tax breaks, the pubs don't care.
We are doomed.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
Look ahead into the future when the government has no more money to give to the free loaders what will happen then. The ruling class didn't make out too well in Russia or France when the coffers ran dry.
Our government sold us down the river! And they have been for decades. The special interest groups are the 'ruling class'.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Unfortunately that is the intention...has been for decades.
You are correct. The question now is.........can it be stopped?
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
You are correct. The question now is.........can it be stopped?
Probably not, it may have to collapse in order to rebuild sadly.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Probably not, it may have to collapse in order to rebuild sadly.
Bush did his best to create the collapse, but Obama is slowly rescuing the USA from the Bush Economic Meltdown.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Bush did his best to create the collapse, but Obama is slowly rescuing the USA from the Bush Economic Meltdown.
Bush was part of the problem and a big one at that but to say Obama is rescuing the USA with his policies are laughable and just not the case. If that was the case you could say Bush started the recoveries with the bailouts and stimulus checks and we know that didn't do crap. The government can not print it's way out of this mess when it continues to fix prices and manipulate interest rates, the markets will always win over interference. Go look up a chart of the DOW vs QE2 spending if you want to see manipulation at work.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Bush did his best to create the collapse, but Obama is slowly rescuing the USA from the Bush Economic Meltdown.
hahahahahahhahahahhah*gasp*hahahahahahahahahahahahahaha*gasp*hahahahahahahahahahahaheeheeheehoohoohoo...You said slowly...HAAAAAAAAAAhahahahahahahaha...owwww my sides hurt......heheheheheheh....hahahahahahahahahahahaha...phew...Wow...my eyes are watering...I needed a good laugh.
Bush did his best to create the collapse, but Obama is slowly rescuing the USA from the Bush Economic Meltdown.
there is no rescue and there was all intention of the global think tanks(both parties) to change the system to fit into the digital/tech/web age.... trade as we know it will become a cast system of values ie: your credit score/job position etc......we will be trading with paper clips for a loaf of bread...and it wont be for lack of value it will just be that different....
be careful how the "rescue" happens....a civilization is only as strong as the minds of the individual plebs....a collective mind leads to the tar pits
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Things must really be going sour when you see Bernanke opening up the hollowed halls of the "FED" looking to give the ailing economy a Pub. Rel. shot in the arm, with his press conferences to be held 4x a year. By the way a good name the Fed has, as many are fed-up with the FED.
Logged
