And do you think that the US and China are doomed to follow the same fate?
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Simply perfect. I would disagree only in that you seem to still think of the 'three legs of the World Economy' - China, USA, and Europe that is - as separate. We live in ONE world and we share ONE economy. Euro goes kaboom, so will the Dollar & Y
I could envison with the right reforms, we could actually benefit from their failure much like the 50's when Europe was rebuilding the rubble from WW2 . But we are not likely to implement any such reforms here anytime soon...Sadly.
I dont think there will be a deep recession if the Euro goes bust. Things are bad for Southern Europe already now. For Northern Europe any crisis is a chance. It was so in 2008 and it will be so with the crisis to come.
Northern Europe is already now in contraction. Germany's GDP has offically begun to contract. It's too late
So what, Northern Europe, Germany in particular can take a 5 to 7% slump in GDP for a year or so. Happened before in 2008, but this time will not be as bad, because only hit real economy, banking issues were sorted out last crisis.
The answer is more complex. The devaluing of the Euro caused by the other nations Helps German exports. But they then have to bail out the other members. If the other nations like greece leave the currency appreciates and crushes exports.Bad cycle
Democracy, really? The Eurozone is a Big Socialist State, and has effectively been that way since even before its official formation. The USSR and the Eurozone are one and the same, except the latter being about 25 years more technologically advanced
Full agreement. Only way out of this is to take the bailout directly to the people - while at the same time grabbing and prosecuting the tiny but rich and powerful Global Elite. Sort of a simultaneous world-wide bankruptcy/reset to coveted Gold Std.
Wow! What a great answer! Thanks for taking the time - and I believe I shall follow you. (Perhaps you could do the same and share some of your input...?)
So when do YOU think it all goes *KA-BOOM,* Mr. CHRIS57?