theTrumpet.com: Economic Crisis, Europe and the Coming Nuclear Holocaust - by Brad Macdonald
Economic Crisis, Europe and the Coming Nuclear Holocaust - by Brad Macdonald
America’s bleak economic condition—its multitude of rickety financial institutions, its reckless mortgage-lending practices, its unfathomably high budget and trade deficits, its deflating housing market, its rising unemployment, its massive Social Security and Medicare liabilities, its embarrassing decline in savings; the outrageous personal debt among Americans, the demise of manufacturing, the dependence on foreigners to finance American spending—has been drastically exposed in recent years. And the world, alarmed by what it sees, is growing edgy. Assumptions about the American economy are being questioned. Perceptions are changing. Confidence in America’s economic supremacy and leadership is cracking—rapidly! This foreboding reality was confirmed by a large global poll recently conducted by the Pew Research Center.
Confidence in the U.S. Federal Reserve—a central organ in the global financial system, and major instrument of influence for the U.S. government—has plummeted to the point the International Monetary Fund (imf) now wants to examine the U.S. financial system. That’s a telling announcement: Foreign powers consider the U.S. Federal Reserve, formerly the stable backbone of the global financial system, to be so sick they are now demanding the IMF give it and virtually the entire U.S. financial system a cat scan.
It’s hard to deny: America’s fall from economic supremacy is creating a leadership void that Europe is beginning to fill. The world’s confidence is shifting away from the U.S. and behind Europe!
Labels: US
