China is a myth. At it’s core, this statement rings true:
I have held for a long time that the rise of China is a Zero Sum game, slightly modified: Every dollar they earn is a direct result of American policies. The day America chooses to gut the Chinese, it is a simple matter of closing the ports to her imports.
A little pain here…and an E.L.E. in China (Extinction Level Event).
Better believe it Suzi. You can wax poetically all you want about the new Chinese century, and how wealth is shifting east, and I will still echo the concept above. America holds all the cards here, sovereign debt or not.
With regard to war in Europe though. It has been made abundantly clear that the people on the EU have no intention of shrugging off their banking masters’ chains. Berlusconi & Greek Papa-whatever’s resignations are clear signs that the ruling class is still very much calling the shots and running the show.
This is a very big deal. One year ago, the Italian 2-year was at 2.010 and the 10-year was at 3.924 The Italian 2-year is now rapidly approaching where the Portuguese 10-year was one year ago. What this indicates is that the end of the Euro and the end of the EU in its present form will likely take place within one year. Greece and Ireland were sideshows. Italy is the main event.
I would agree with the above statement. This is why my travel plans within CONUS (& especially outside CONUS) have been put on indefinite hold.