“When the going gets tough, the tough get going” is a wonderful piece of linguistic wizardry. It can be read in two different ways. Either the 'tough' become fully engaged in combat and fight it out till the bitter end or the ‘tough’ up sticks and move out. It was supposedly Joseph P. Kennedy (father of US President John F. Kennedy) that gets the praise for having said it first. Once upon a time, in a far off place called the United States of America where that became a historical byword to describe exactly how they did business, it was once the first meaning that always held true. These days, however, it’s more like they are jumping ship with the rats before they are totally decimated, ripped into tiny pieces and scattered by the winds to the four corners of the Earth.
But, we only have ourselves to blame. I can understand patriots, but right now it looks very much like the USA is its own worst enemy. Congress is doing little all that procrastinating and sitting tight till the storm blows over. Washington is killing the USA, stunting growth. By 2040 we’ll be well behind the rest as China hits a staggering high of 40% of world GDP. The USA is estimated to be at about 14% by that same year. The EU will be baby-portion size at only 5%. Not much in comparison, is it? But we’ll probably carry on thinking ourselves to the top of the roost. What is it that the French say as to why they have the rooster as their national emblem (although it’s not actually the real reason)? It reads like this: the rooster is the only animal that still carries on singing even when it’s knee-high in cow shit. The US is still cockaldoodledoing, isn’t it? I never thought they would take a leaf out of the Frenchies’ book on how to do business.
China is investing in their future. It has an army, hoards of workers that are just begging to get into the factories as the USA has workers struggling to get out and do a runner. It’s a hit and run game in the USA today. Do the dirty and make a run for it. China’s economy will hit the $123 trillion mark by 2040. The USA is at just 1% of GDP growth and saddled with debts that are far too big to even lug over their shoulders and drag along with them. They are standing still right now. China will get to $85,000 per capita income. That’s double anything that the Americans and the Europeans are capable of doing.
The boys from Shanghai are laughing at us and our over-rated pride. I thought we used to tell people to stop living in the past. Sorry, officer, put the cuffs on me. I’ll plead guilty. We are not just living in the past; we’re living in a different century. We’re living where we used to be at the top, where we used to say jump, and people jumped. We didn’t even need to say ‘Simon says’ and people did it. But, that’s a child’s game. Long gone. It’s a better man that admits that he has lost the fight. But, instead of griping, we need to get our act together. Start changing the way we produce, the way we take decisions, the way we run the markets.
And please: Before you start getting your John Wane walk on and telling me to get off my high horse, look at the US without the tainted rose-coloured glasses that you normally wear and start listening and watching what’s actually happening. It only adds fuel to the fire, and pleases China and the rest of the rising fiery dragons that are breathing down our necks. Figures are wonderful; they are like snapshots of history. The camera doesn’t lie. Smile, guys!
Originally posted http://www.tothetick.com/its-not-the-dollar-thats-dead-its-the-usa [6]
You might also enjoy
Move Over Marx, Here comes obama [7] Death of the Dollar [8]
[8]Phillippines Waiting in the Wings [9] Big Bond Sell-Off [10]
EU27 Youth Unemployment Hits 23.5% [11]Walmart Fined $82 million for Waste Disposal [12]
[12]The Dreaded Curse of the IMF! [13]The Biggest Sell-Offs in History [14]
[14]HyperInflation - 10 Worst Cases [15]China Fakes Trade Surplus [16]