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The Post Globalized World Part 1: Why The PIGS Are Out Of Luck

Tyler Durden's picture




 

There are three key factors to modeling trade flows - or relevance - in a post-globalization world. While competitiveness is important, countries gain from being generally 'Technology-rich', 'Labor-rich', and/or 'Resource-rich'. The following chart, from Deutsche Bank, shows where the world's countries fit into the Venn diagram of give-and-take in a post-globalization market. The red oval highlights where Italy, Greece, Portugal, and Spain (and Argentina sadly enough) do not fit into this picture. Two words - Euro-sustainability?

Analysis of Global Competitive Advantages

 

and where they each stack up...

 

How things have changed...

 

Deutsche Bank drills down:

1. “Technology rich” advanced economies: These countries generate exports by producing advanced goods and having companies that organize global production processes. These economies tend to benefit from their strong infrastructure, good education, high number of patents and strong companies that arrange sophisticated production processes (potential with global sourcing). Germany, Switzerland, Scandinavia and Japan are appropriate examples, in our view. As variables for “technology-richness” we consider patent grants (sum '05-'10 per '000 population), internet users per 100 (2010), UN Education Index (avg. '05-'10), quality of institutions (rule of law, property right, organized crime, corruption, etc.), quality of overall infrastructure, quality of educational system, and firm-level technology absorption (The last four variables come from the competiveness study of the World economic forum)

2. Labour rich countries: These countries generate exports because they have a high number of workers, low labour costs in a global comparison or in a regional comparison (Eastern Europe relative to Western Europe or Mexico relative to the US) and an infrastructure sufficient for global companies to set up production sites. China, Thailand, Poland and Czech Republic could fall into this category.

3. Commodity rich countries: The countries generate exports from natural resources. They have benefited from rising commodity prices over the last decade for some of commodities. Saudi Arabia, Brazil, Russia and other oil countries are classical examples. For commodity-richness we use share of commodity exports of total merchandise exports (avg. '05-'10) and commodities export value as share of GDP (avg. '05-'10). For labour-richness we look at share of population employed in mining and manufacturing (avg. '05-'10), ratio of labour force to GDP (avg. '05-'09), employment in agriculture (% of total employment, avg. '05-'10), manufacturing value added (% of GDP).

4. Countries without strong comparative advantages: Those countries that are not very strong in one of the three categories mentioned above have found it harder to increase their exports over the last decade. They may have taken part in global trade by increasing their debt levels. Greece may be one prominent example. The question is which other countries would fall into this category.

 

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Wed, 09/05/2012 - 15:48 | 2765584 economics9698
economics9698's picture

Don't forget we, USA, can kill the most people.

Wed, 09/05/2012 - 16:04 | 2765623 withnmeans
withnmeans's picture

The charts do not represent the past, Italy, Greece, and Egypt use to be at the top of the food chain as well as others.

So let the cards fall where they may, some countries maybe the show stoppers of our era, however the LIGHTS can go out at any given time...

One cannot be too arrogant, it may come around to bite you in the ass!

Wed, 09/05/2012 - 16:16 | 2765682 slewie the pi-rat
slewie the pi-rat's picture

 <--< YES

 <--< NO

slewie opinion poll:  should US Mint-produced gold and silver coinage be restored as LEGAL TENDER in the US as per the US Constitution and not subject to the fuking "collectibles" and OTHER TAXES?

yes or no? 

.

Wed, 09/05/2012 - 16:24 | 2765689 RockyRacoon
RockyRacoon's picture

This is the answer I posted to your same question at another article:

"yes or no? should gold and silver US Mint-produced coinage be legal tender (b/c the CONSTITUTION sez so) or NOT?"

The coins being produced are legal tender -- if you want to give away a $50 gold "coin" that weighs in at 1 Troy ounce.  Or a 1 ounce silver $1 Eagles at face value.  Not a really smart thing to do, but your question is answered in the strict sense as a "yes" most certainly.  Even when we had a semblance of a gold standard there were face values on the coinage.  There were $20 gold pieces and silver dollars.   What irks me is that there is a sales tax on purchases/sales of the coin of the realm.   Funny how I can go to the local bank branch and change a $20 bill for 2 $10s and there is no transaction tax.   That shit just ain't right.   I may not have answered your question the way you wanted, but I'll admit to not understanding the question fully.  Be gentle as I only have a limited number of hours to spend following your train of thought(s).  No easy task my convoluted buddy.

I'll add to this most recent post that PM coinage should be treated like MONEY, and until they are we will have to put up with the stupid, unfair, illegal, inequitable transaction taxes.   "Collectibles" they ain't, even though I'm collecting as much as I can.

Wed, 09/05/2012 - 17:00 | 2765796 slewie the pi-rat
slewie the pi-rat's picture

thanks for chasing me down!

you are important here:

  1. read what the constitution says
  2. has it been amended (no!)
  3. therefore, let's FIX this and stop paying a "tax" to protect ourselves, our treasure and our very lives from the lawlessness all about us

i'll freely admit i write in a manner that isn't 100% someone else's dogma

much of what i write about is psychological

this is too, in a way;  you don't see it clearly b/c it is still somewhat "convoluted" to you b/c it is from slewie (perhaps,k?)

but thank you for getting in here with me, Rocky!

...even if you're not sure what i am up to at least you are seeing the basic issue;  now understand what Jefferson said about this and what the styooopid ole doc. from 1789 says, and you will begin to understand why this is a real hope for people like slewie and youie, even though it is certainly difficult to see thru the constant zH "editorial" position that it must be meaningless b/c jMauldin and dCasey or mittens or prez0 or the squid or DB or CHS or pSinger or bGross or artFerment or the trimTabber or GATA or some other un-convoluted (?) authority like tylerDurden hasn't "approved" this message

lQQk at the polls [7:1  Yes:NO on the last one, last time i looked]

i rest my case

Wed, 09/05/2012 - 17:05 | 2765808 Ahmeexnal
Ahmeexnal's picture

It's official: ECB embarks in infinite bond buying.  Operation euro-twist has begun.

http://www.silverdoctors.com/ecb-plan-said-to-pledge-unlimited-sterilize...

 

European Central Bank President Mario Draghi’s bond-buying proposal involves unlimited purchases of government debt that will be sterilized to assuage concerns about printing money, two central bank officials briefed on the plan said. 

Under the blueprint, which may be called “Monetary Outright Transactions,” the ECB would refrain from setting a public cap on yields, according to the people, and a third official, who spoke on condition of anonymity. The plan will only focus on government bonds rather than a broader range of assets and will target short-dated maturities of up to about three years, two of the people said.

When cockroaches like Johnny Depp start jumping ship you know TS has truly HTF.

Wed, 09/05/2012 - 17:25 | 2765857 falak pema
falak pema's picture

jumped ship from where to where; the stern to the bow of the Titanic?

Captain Sparrow never leaves the ship mate! Anyways, he has no other ship to go to, can just retire to treasure island.

Good luck to him if he can avoid the sharks. 

Wed, 09/05/2012 - 18:16 | 2766007 Ahmeexnal
Ahmeexnal's picture

Seems to me like he's gonna have to pray for those "sea turtles" to come save him again.

Wed, 09/05/2012 - 18:53 | 2766124 smiler03
smiler03's picture

 "Don't forget we, USA, can kill the most people."

Including yourselves. How many warheads does it take to kill the most people? Speculation says that even Israel has 300 thermonuclear tablets to share.

Thu, 09/06/2012 - 02:00 | 2767113 kayl
kayl's picture

@ slewie

We are in a situation that privateers have taken over the ship. I prefer that coins be counted as personal property for the time being, and all debts, taxes, and presentments be discharged by the medium of paper exchange duly established within the UCC. That way I have my cake and eat it too.

It's been a wild ride, but not for the faint of heart. Title 31 USC Section 5118 strictly forbids an obligor or an obligee to demand the payment or discharge of any debt with a particular currency of the US that is gold-based or gold itself.

This statute is both a curse and a blessing. It means we cannot use gold to pay for anything. We no longer have money of exchange, and consequently we don't own anything in the US. This is now so since 1933.

But we can discharge any public debt obligation with paper with our qualified endorsements and "on demand" promissory notes as established by the UCC.

We have all become Emperor Nortons of San Francisco now, with the Fed creating our money. And it is by like example that we must use the laws of our time to discharge all presentments in a timely manner. That is the solution for me to preserve my own self-interests until this new world plays itself out. Paper, paper, paper all the way home.

In this new incarnation with an avatar body I look forward to a stable money of exchange that may be related to gold as tier one asset. Can we get there from here in a post-globalisation economy?

I succeeded on the Federal level, but the privateers have now attacked through the State. This is to be expected since money isn't real, and they are pirates after all. Fake presentments are shot at people every day who are unable to decipher their meaning.

This time I'm at the ready. I downloaded the IACA Administrators handbook to get proper information about filing a UCC 1 Initial Financing Statement for the state level, and I found their XML UCC specification for building the interface for web UCC applications. It too had helpful, most interesting information in the lists of values for each variable in the software.

Wow, there are fields in the UCC form that convey information about debtors who are public officials. Is it possible that I am witnessing two tiers of class in the managent of debt in our society? Oh, no. It couldn't be.

I shalll prevail as a Secured Party Creditor. And even if the novation still sticks, I'm prepared to claim the abrogation of my duties as a Surety, and gain as though by assignment the rights of the Secured Party Creditor. You'll have to delve into the particulars of Business law, insurance, and bonds for indemnity and surety to make heads or tails of it.

Hat tip...if you catch my drift.

Wed, 09/05/2012 - 22:26 | 2766776 lasvegaspersona
lasvegaspersona's picture

Stewie

love the idea but since they flushed the Constitution (look it up) long ago , I vote No for pratical reasons. The gold standard, defined as a government declaring the value of a metal and then defending it by messing with the entire economy has been tried and just is not going to be tolerated. I favor a free floating gold price untouched by governments except to defend their currencies by buying or selling physical gold into the market place. In this system the banks and politicians get their precious fiat but the market place gets to tell them pronto if they are doing it right (by making gold more or less expensive in that currency). Keynes famously said the GOLD STANDARD was barbaric. I think he felt about the metal as he did for young men, a gentle fondness. Anyway that is what seems to be coming so love it or loose.

Wed, 09/05/2012 - 16:50 | 2765769 MillionDollarBoner_
MillionDollarBoner_'s picture

"Italy, Greece, and Egypt use to be at the top of the food chain"

Yes, Yes , Yes!

That's why they have the most corrupt politicians.

More time, more practice ;o)

Wed, 09/05/2012 - 18:16 | 2766009 schadenfreude
schadenfreude's picture

See, how long it takes for an empire to fade away?

Wed, 09/05/2012 - 17:15 | 2765836 Acet
Acet's picture

Worse, the charts themselves are very much bullshit and maybe even outdated:

- Some of the "Technology Rich" like the UK are no such thing anymore, not since industry was moved abroad and the country became service heavy. Same thing applies to many other European countries in there, and also up to a point the US - it's both cause and consequence of their decay that technology expertise has been moving out of those countries and this is not only reflected in how much industry they have lost but also in the ever decreasing numbers of graduates in areas like Engineering (Not to worry, it's offset by an increase in Law, Public Relations and Management graduates!).

More in general, "Technology Richness" means nothing if it's not used in the service of producing something. If the "Technology Rich" label comes from being a huge consumer of Technology, it brings no wealth and no growth.

Having lived in the UK, the Netherlands and Portugal I can tell you that the UK is overwelmingly just a consumer of technology (and only in technology that is portable, like mobile phones - in anything to do with infrastructure, like Internet connections, the UK is at the level of Portugal), while the Netherlands is much more ahead in technology infrastructure and produces more technology, while Portugal is like a poor version of the UK when it comes to technology consumption and produces even less technology than the UK (I think it's because Portugal is about 20 - 30 years behind in educating its people, so there are a lot of older, technology illiterate people around).

 

Wed, 09/05/2012 - 19:09 | 2766163 smiler03
smiler03's picture

This study of Technology is by Country/University. It suggests that you're talking crap. Never mind, you've "lived in" them!

 

http://www.timeshighereducation.co.uk/world-university-rankings/2011-2012/engineering-and-it.html

 

Oh, and Nobel Scientific Prizes by country

http://en.wikipedia.org/wiki/List_of_countries_by_Nobel_laureates_per_capita#Scientific_prizes

Wed, 09/05/2012 - 16:07 | 2765652 Winston Churchill
Winston Churchill's picture

But at least  they are Free and dead.(cough).

Wed, 09/05/2012 - 16:27 | 2765709 Herd Redirectio...
Herd Redirection Committee's picture

Spain, Italy, Portugal, Greece... No particular advantage?

I think they should form their own union and make money from either tourism or piracy.  Thats putting their geographic advantage and cultural similarities to good use.  Tongue in cheek, of course.

Wed, 09/05/2012 - 16:52 | 2765772 Dr Benway
Dr Benway's picture

Maybe tourism-friendly locales and beaches could be considered a resource. But it requires that visitors feel comparatively rich, i.e. a favourable exchange rate.

 

The article lists Australia as 'technology rich', based on the definition that such countries "generate exports by producing advanced goods". LOL.

 

http://s1144.photobucket.com/albums/o489/ DrBenway/

Wed, 09/05/2012 - 18:54 | 2766135 machineh
machineh's picture

Argentina actually IS commodity rich, being self-sufficient in agriculture and nearly self-sufficient in energy. It also has gold mines.

Its story is one of Peronist looters running a formerly rich country into the ground -- the world's only 'formerly developed economy.'

Wed, 09/05/2012 - 16:27 | 2765710 slewie the pi-rat
slewie the pi-rat's picture

douche-bank should be taken with a grain of salt and a small tab of LSD here, perhaps...?

if they don't like the EZ, they are free to exit the currency, are they not?

they are so fuking out-voted it is no longer funny!

stay tooned!

when does the pastry-chefCourt do their "deciding"?

tomorrow?

we shall see who is "out of luck" from their "ruling" and wtf germany tries next after their "law" is "interpreted" with somewhat more finality than heretofore, eh?

until then, keep the propaganda coming tyler!  at least this isn't yours, for a change...  i think...

jens must be pooping his pants to throw this shit up today

Wed, 09/05/2012 - 16:08 | 2765653 The Wizard of Oz
The Wizard of Oz's picture

HIDE YO KIDZ, HIDE YO WIVES, BITCHEZ!!!!

Wed, 09/05/2012 - 19:49 | 2766346 morpheus000
morpheus000's picture

this is critical being able to destroy the most shit

Wed, 09/05/2012 - 15:49 | 2765594 fourchan
fourchan's picture

the job of the fed is to make money for its shareholders by any means. the means it has always used is to create boom and bust cycles. these cycles capture loaned on property and enslave the borrowers to debt. to those who are not enslaved already, the fed devalues their savings of frns through inflation, which is only another word for devaluation. the "system" is working perfectly and as planned by its creators 100 years ago. the fed has stolen america and enslaved a free people.

Wed, 09/05/2012 - 16:05 | 2765632 LawsofPhysics
LawsofPhysics's picture

Yes, with a minor correction, "the Fed has stolen the entire western world".  Just look who is behind the bond purchases in the majority of countries in the western world with large economies, be it by "twist" or dollar swaps, they own you.

Wed, 09/05/2012 - 16:05 | 2765649 economics9698
economics9698's picture

Central banking has been around 400 years?  We use to kill central banks, now they are our boss.  I think when we go bankrupt we need to label parasites with a tattoo on their forehead "warning parasite" so the rest of society can avoid these leeches.

And if the parasites start another central bank movement just hang them about the neck until dead. 

Wed, 09/05/2012 - 16:22 | 2765694 LawsofPhysics
LawsofPhysics's picture

Usury has been punishable by death at several points throughout history.  That which can not be sustained, won't be.  Hedge accordingly.

Wed, 09/05/2012 - 18:56 | 2766144 machineh
machineh's picture

With what ... a steel anti-asphyxiation collar? 

The bankster model could be blinged out with gold plating and rubies.

Wed, 09/05/2012 - 15:50 | 2765600 marketblip
marketblip's picture

Interesting read.

Looks like the ECB is about to destroy the Euro though: www.marketblip.com

 

Wed, 09/05/2012 - 16:33 | 2765715 falak pema
falak pema's picture

The Euro was a surrogate post WW2  construct of PAx Americana world order. Bad and fast track cut and paste job, after the deregulation via big bang, to match USD hegemony and currency clout.

WHen Pax Americana went global it ratcheted up the global competition along the lines portrayed here.

Its own runaway financialised momentum has knocked out its own reserve currency and world pre-eminence and obviously destabilised its own surrogates; Japan and Eurozone.

So this is the decline of First world and in the coming years, barring Armageddon, we will see a shift of power to East and South, amongst those nations who have competitive advantage.

Say bye bye to the old world order....unless PAx Americana invites everybody to the OK corral! 

Oh my darling, oh my darling Clementine...bang bang, shot you down! 

Wed, 09/05/2012 - 16:36 | 2765733 magpie
magpie's picture

That's a great theory...almost like the Bernank trying to hoist the reserve currency honors on Canada or Mexico.

Wed, 09/05/2012 - 17:10 | 2765802 falak pema
falak pema's picture

Its a fact; now that its derailed you can see the WS cabal on both sides trying to fix the reality of the US financial construct that morphed bigtime in 2008 and spilled over into Eurozone; totally integrated as the global net via the banks but with Euro as surrogate.

Do you doubt that reality? Do you doubt that the Euro was created to protect EU from USD hegemony, by being its co-partner in the economic construct, on a junior monetary partner basis? 

Something that Japan never achieved in 20 years since 1971 to 1992; inspite of its dominant economy it lacked financial firepower!

Bernanke/Greenspan/Volcker didn't have to hoist it onto Eurozone. Eurozone on their own COPIED US system to try and achieve near parity financial advantage for themselves. Cut n PAste job. But the dynamics of the global system were American. It led the party as reserve, the Euro was hampered without fiscal cohesion, it lost its compass as the national wheels came off one by one...including and upto total derailment, which seems imminent. 

Wed, 09/05/2012 - 19:00 | 2766155 machineh
machineh's picture

Sixty-seven years after the war ended, Japan and Europe still host U.S. occupation troops.

With the U.S. in decline, its vassal states are getting sucked down with it.

Nobody's even talking about abolishing NATO, so the process is terminal.

Wed, 09/05/2012 - 19:00 | 2766156 machineh
machineh's picture

[duplicate post]

Wed, 09/05/2012 - 15:51 | 2765601 savagegoose
savagegoose's picture

usa is commodity rich as well as tech rich.

Wed, 09/05/2012 - 15:58 | 2765630 Bartanist
Bartanist's picture

and the US has excess labor ... the problem being the US's excess overhead created by government regulation, high cost of government and the financial and insurance industry parasitic drains.

China on the other hand is labor rich, resource rich and technology rich ... the Douche Bank author probably read about China in a 1980 book by someone who has never visited there.

It is a simplistic and therefore poor analysis all around.

Wed, 09/05/2012 - 15:58 | 2765634 Big Corked Boots
Big Corked Boots's picture

Agreed - natgas, oil, agriculture, lumber, etc. The only problem is we use too much of some of those things, others are locked up either by business logistics (gas) or environmental issues (oil).

Wed, 09/05/2012 - 15:54 | 2765608 LawsofPhysics
LawsofPhysics's picture

And when a commodity rich country becomes technology rich...

 

...they are "liberated" by NATO.

 

how's that nuclear technology coming along in Iran again?

Wed, 09/05/2012 - 16:03 | 2765629 Abraxas
Abraxas's picture

I recently visited a country we "liberated" a few years ago. Those people living there hate our guts. Thankless bunch. No matter, we'll continue liberating the others. That's what kind of guys we are.

Wed, 09/05/2012 - 15:53 | 2765611 madcows
madcows's picture

the US is the breadbasket to the world.  I'd say that is commodity rich.  Likewise, Australia is one large mine.  Also commodity rich.

 

Looks like the "Commodity" rich circle should be renamed the Oil rich circle.

Wed, 09/05/2012 - 15:53 | 2765615 Bartanist
Bartanist's picture

Thank you Douche Bank for the junior high quality analysis.

Maybe they will repeat it for us when they have a couple of years of highschool under their belt.

Wed, 09/05/2012 - 15:55 | 2765617 kaiten
kaiten's picture

No worries, when unemployment reaches 30% and wages halve, all of the PIGS will become "labor-rich" again. Labor rich and poor, that is.

Wed, 09/05/2012 - 15:56 | 2765621 insanelysane
insanelysane's picture

Just like the USSA, no skills or abilities, no problem.  SNAP, Welfare, SSI disability, government job, .....

Wed, 09/05/2012 - 16:32 | 2765719 Anglo Hondo
Anglo Hondo's picture

you forgot - no ambition.

 

Wed, 09/05/2012 - 15:57 | 2765625 BORT
BORT's picture

The USA should be broken down the same way.  Then we can young people where to go to live

Wed, 09/05/2012 - 15:57 | 2765627 medanbola
medanbola's picture

Tell the fellows at Deutsche that a big chunk of ARGENTINA´s GDP comes from grain exports. Global soy producer #3. Current administration can be crappy but the fact remains Argy is a commodity rich country. Fellows at Deutsche´s posh Argy office know. They own nice ranches down south.

Wed, 09/05/2012 - 17:01 | 2765794 dwdollar
dwdollar's picture

I think someone at Deutsche got bored and started playing with MS paint.

Wed, 09/05/2012 - 17:11 | 2765823 Fela_Kuti
Fela_Kuti's picture

True, but it is the export balance that matters. China is the world's largest or second largest producer of most every agricultural product. Argentina is the world's thrid largest producer and exporter of soybeans. It is a middling producer of corn but the world's second largest exporter after the US. And so on with wheat, barley, and many other products, including #1 exporter of biodiesel. It is already the largest per capita food producer (only 40 million inhabitants) in the world and is set to increase production by 60% in 2020...

And it is also a renewable resource. As the global population grows and droughts and floods spread, food will become more than just a 'commodity'... What's more, as China and India develop, they actually turn farmland into industrial or residential land...

Wed, 09/05/2012 - 16:00 | 2765628 GoldbugVariation
GoldbugVariation's picture

Nice and simple and makes sense, though it's a bit over-simplistic like anything like this.

The main thing which is missing is some kind of agricultural land and food production index - food and agricultural commodities make a big proportion of global trade flows, and likely to be important this year and in future due to the widespread drought.  Trade is not only in oil, minerals and manufactured goods and financial services, people have to eat too.

The overall conclusion looks to be that it's best to be a Norwegian.

Wed, 09/05/2012 - 19:04 | 2766170 machineh
machineh's picture

or a Martian ...

Wed, 09/05/2012 - 15:59 | 2765637 adr
adr's picture

The USA is rich in bullshit, that is about it. Technology rich based on garbage patents that can't hold up anywhere else in the world.

The USA could be commodity rich if it weren't for the federal government making it nearly impossible to make a profit off extracting any of them.

The reality of the post globalized world is that 99.999% of the population will be dirt poor and starving. The .001% will make sure the rest die off so the planet can be rebuilt in their image. They'll use the promise of prosperity for those who serve to protect themselves.

Globalism isn't about equality, if you haven't figured that out by now.

Wed, 09/05/2012 - 16:30 | 2765712 poor fella
poor fella's picture

With any luck, the .00001% will be so inbred they'll all go crazy and vaporize themselves.

I honestly don't get it. I've seen neighborhoods in Central America where every home is razor-wired, armed, and alarmed. The 'prisoners' inside are so happy not being like those 'outside' (where I was walking around and enjoying people's company just fine).

They'd rather parade around in a beemer (an overextended purchase) and be an ass - than admit they LIVE where they live and get to know their neighbors. It's a crazy mental maze the upper-middle-class-ever-wanting-elite-status-cog has to wade... They'll soon be begging for 7 day workweeks on a 'promise' of a better life.

Wed, 09/05/2012 - 19:50 | 2766351 morpheus000
morpheus000's picture

the US could be rich but it would mean power would be redistributed to the real producers of wealth

Wed, 09/05/2012 - 16:05 | 2765647 marketblip
marketblip's picture

I'm not sure I believe this panic-mongering.

Don't forget Draghi is up tomorrow: www.marketblip.com

Wed, 09/05/2012 - 22:28 | 2765654 Zero Govt
Zero Govt's picture

Deutsche Bank peddles the total bollocks that "countries" have either got it or haven't.

Private sector success is dependent on individuals, not anything collective nor down to resources which can simply be bought on the open/global market

The only reason a nation is priced out of business is entirely due to Govt meddling, piling on social benefits, minimum wages, the expense of red tape and health and safety nonsense, restricting the free flow of people (immigration), mountains of legislation abusing the free use of private property and carrying the high costs of the monopolies that spring up like Jabba the Huts around the extortion racket that is Govt 

Govt prices business out of work, Govt saps wealth and ruins the productive economy. Govt is entirely responsible for Western uncompetitiveness and literally all the unemployment

as Spanish research showed that the US Prsidents green team tried to discredit, every faked green job causes the loss of 2 to 3 private sector real jobs ...that goes for almost every job created in the parasite, sorry public sector

Wed, 09/05/2012 - 16:19 | 2765669 poor fella
poor fella's picture

The U.S. is technologically rich, labor rich (ANY pressures at all?), AND commoditiy rich...

If the FUCKS in charge didn't absolutely hand over IP, jobs, and public-land commodity profits at EVERY turn - we'd probably be doing ok. Raped by traitors that should be hollow-point-sinks every time they show their faces.

GE gets a huge defense (offense) contract? So will they automatically get an Asian contract as well when they give away that IP by opening a duplicate factory in China?!?! This shit has to end... and it WILL... I'm patient enough to let these greedy fucking bastards fuck everyone in the world so they can peacock their wealth around like an oiled up body-builder. Comedic target.

We don't even need oil and caltrops to drop Ferraris - these fucking idiots are so stoned they kill themselves and their bitches... (Caltrops never hurt though).

Wed, 09/05/2012 - 16:13 | 2765670 fbachan
fbachan's picture

Why the hack the Chech Republic is "Labour rich" while New Zealand is "Technology rich" ? One car assembled in CR <=> one sheep born in NZ. WTF!

Wed, 09/05/2012 - 22:34 | 2765714 Zero Govt
Zero Govt's picture

Deutsche Bank couldn't model and project the foot fall to one 24 hour public toilet, let alone global trade

indeed their own bailouts from the ECB and US Fed prove Deutsche Bank can't even model their own cash flow

f'n bwankers

Wed, 09/05/2012 - 17:35 | 2765885 Coke and Hookers
Coke and Hookers's picture

Haha yes, and Italy which is a tech advanced economy has 'no advantage' while Ireland is tech rich because a few companies set up assembly shops there. Russia is commodity rich but not tech rich while USA (a country which can't even manufacture mobile phones and lcd screens) is tech rich and not resource rich. This classification is just set up to prove a point. What we are looking at here is countries which have been gutted and turned into wasteland service economies vs all the others.

Wed, 09/05/2012 - 16:21 | 2765690 falak pema
falak pema's picture

the contours of the emerging world and the face of multilateral competition. 

Interesting beginnings. After the decline, renaissance chimes...

Wed, 09/05/2012 - 16:39 | 2765707 Dr. Engali
Dr. Engali's picture

You have nothing to contribute Piigs. Therefore you are of no use to the bankers. It's unfortunate but you must be the cannon fodder in the upcoming war.

Wed, 09/05/2012 - 19:53 | 2766365 morpheus000
morpheus000's picture

the PIGSS should just start running now or go underground

Wed, 09/05/2012 - 19:57 | 2766380 morpheus000
morpheus000's picture

they should organise themselves they have alot to contribute not to the banksters con game though

Wed, 09/05/2012 - 19:58 | 2766381 morpheus000
morpheus000's picture

they should organise themselves they have alot to contribute not to the banksters con game though

Wed, 09/05/2012 - 16:44 | 2765753 THE DORK OF CORK
THE DORK OF CORK's picture

What a load of Bull - Spain has labour coming out of school at 18 and becoming pensioners......

Ireland is not technology rich - its a base of operations for Google and stuff(for the moment)

 

PS I hate these fucking Ven diagram thingies- they appear to make a lot of sense but when you look a little bit closer they don't.............

Wed, 09/05/2012 - 17:15 | 2765835 Winston of Oceania
Winston of Oceania's picture

You would consider Spains labor cheap?

Thu, 09/06/2012 - 02:58 | 2767234 dvfco
dvfco's picture

Ireland is technology rich because all the students graduate from HS well educated, fluent in English (with vocabularies 15x as broad as a typical American's), and they don't come off as pompous Brits.  When a Brit talks tech, everyone knows they are being bull-shyted.  When an Irishman does, nobody is quite sure whether he was just working on a sheep farm or a server farm.  (Of course, that comes from my 1990 visit.  I hear a few things have changes in the ensuing 22 years.)

Wed, 09/05/2012 - 17:00 | 2765779 dwdollar
dwdollar's picture

Those three things don't magically appear in any country. They are all concepts of the human condition. The lack of any one is a sign of the failure of central planning and its chief tool central banking. So basically... go fuck yourself Douchebag Bank.

Wed, 09/05/2012 - 18:00 | 2765962 Nussi34
Nussi34's picture

What kind of bull chart is that... The North of Italy is much more cmpetitive than France. France is the big PIG!

Wed, 09/05/2012 - 19:48 | 2766334 XRAYD
XRAYD's picture

Spain, Portugal, Italy and Greece have wine in which to drown ther sEurrows!

 

Argentina ... they can have steak and wine, and the rest of us can now just cry for them.  They don't know any different.

 

 

Wed, 09/05/2012 - 20:42 | 2766509 cebri88
cebri88's picture

Too simplistic Tyler, reality is much more complex. ¿Italy and Spain are not technologically rich? ¿And France is? ¿How this is measured? 

EDIT: Spain -> Their exports keep growing http://www.cidob.org/es/publicaciones/articulos/in_focus/july_2012/spanish_exports_no_crisis

Not every country within the other circles can say the same.

Thu, 09/06/2012 - 05:02 | 2767328 onebir
onebir's picture

TIL investment bankers do not understand Venn diagrams.

Thu, 09/06/2012 - 13:05 | 2768730 gregga777
gregga777's picture

The United States is very rich in natural resources especially considering its rich farmlands that have not been depleted nor poisoned with salts deposited by irrigation from thousands of years of farming.

The US has the worlds' second largest (per USGS estimates) or third largest (IAEA estimates) of thorium deposits of more than 440 million tons second to India's 650 million tons.

The U.S. Oak Ridge National Laboratory (ORNL) with assistance from what is now the Idaho National Laboratory (INL) proved the thorium powered nuclear reactors in the 1960's. Thorium-powered reactors are inherenly safe and do not produce long-lived actinide wastes as do uranium-powered reactors. US proven reserves of thorium are large enough to provide all of the USA's electrical needs for more than a century even while allowing for annual growth in electricity demand.

(see http://en.m.wikipedia.org/wiki/Thorium )

American estimates in tonnes (2010)
Country Reserves
India 650,000
United States 440,000
Australia 300,000
Brazil 16,000
Canada 100,000
Malaysia 4,500
South Africa 35,000
Other Countries 90,000
World Total 1,660,000

The world uses the equivalent amount of hydrocarbon fuels (oil, natural gas, natural gas liquids, coal and biomass) equal to about three cubic mile of oil (CMO) (see http://en.m.wikipedia.org/wiki/Cubic_mile_of_oil ) per year.

Possible replacements for just One CMO with alternative energy sources is about (see http://en.m.wikipedia.org/wiki/Cubic_mile_of_oil for definition of CMO and the cost and capacity of each type of energy source cited below. For instance each dam is a Chinese Three Gorges Dam. The bad news is that there are not that many rivers in the world capable of hosting a dan that large.):

Alternative Replacements for one CMO
Source Number Cost (US$1 trillion) Area
(km2) (sq mi)
Dams 200, $6, 1,264,400, 488,200.
Nuclear plants 2,600, $13, 10,400, 4,000.
Coal plants 5,200, $3.4, 10,400, 4,000.
Wind turbines 1,642,000, $3.3, 273,667, 105,663.
Rooftop photovoltaics 4,562,500,000, $68, 63,875, 24,662.

No matter how you try to rationalize photovoltaics (or any other solar source) they will never be more than a niche market. The Laws of Thermodynamics will not allow if to be feasible.

The bottom line is that without high density fuel availability the world will back into pre-Industrial Revolution poverty.

Sat, 09/08/2012 - 01:05 | 2773983 lin3694
lin3694's picture

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