Economy

America's GDP is still roughly twice as big as China's (using market exchange rates). To predict when the gap might be closed, The Economist has updated its interactive chart below with the latest GDP numbers. This allows you to plug in your own assumptions about real GDP growth in China and America, inflation rates and the yuan's exchange rate against the dollar. [Plugging in our assumptive] numbers China will overtake America in 2018. [Share your prediction in the "Comments" section at the bottom of the page.]

Across Europe and the United States, millions go without work. Those who do work face a lifetime of crippling taxation to pay for the entitlements of their countrymen and the debts of their governments. Canada by contrast is strong. To stay that way, we must never repeat the mistakes of Europe and the United States and we must instead focus on what Canada has already done right. Words: 1320

...[F]iscal austerity will envelop most advanced economies this year, rather than just the eurozone periphery and the United Kingdom. Indeed, austerity is spreading to the core of the eurozone, the United States, and other advanced economies (with the exception of Japan). Given synchronized fiscal retrenchment in most advanced economies, another year of mediocre growth could give way to outright contraction in some countries. Words: 780

The current move up over the past 4 years is being driven by the Fed's loose monetary policies (just as other global markets have been driven by their Central Banks). Most bulls believe the loose polices will stimulate enough consumer demand to lead to a significant U.S. economic recovery. We, however, continue to believe the debt - laden consumer, along with the still other unresolved debt burdens, will be a major drag on the U.S. economy, (we are convinced that the market will turn down and make a triple top at levels below the peaks made in 2000 and 2007 while we resume the secular bear market that started in 2000) and that will have negative affects on the global economy.

Why are so many politicians around the world declaring that the debt crisis is "over" when debt-to-GDP ratios all over the planet continue to skyrocket? The global economy has never seen anything like the sovereign debt bubble that we are experiencing today. This insanity will continue until a day of reckoning arrives and the system implodes. Nobody knows exactly when that moment will be reached, but without a doubt it is coming. Are you ready? Words: 1270

Without economic growth, and real economic growth at that, there can be no meaningful long-term economic recovery in the developed countries. Growth or lack thereof will have to be reflected in the financial markets over time. Currently, I continue to see a disconnect between where the financial markets are pricing things, and where I think they ought to be pricing things. Words: 784

The United States imported about 40 percent of its oil in 2012. So where are we getting it from? It depends a lot on where you live. [This article presents a map showing U.S. crude oil imports by country of origin for 2012 with commentary on regional particulars.]

We are in a trench warfare with central bankers, hellbent on destroying capitalism, sovereign nations, currencies, all in the service of achieving world dominance, via deception, letting nothing and no one stand in the way. The importance of gold and, to a lesser extent, silver are the Achilles Heel of the Bilderberg Clan’s largest Ponzi scheme ever. Whatever one may think of the Mafia, they are bit players in contrast to the central banking clan, the most ruthless collection of individuals ever assembled. The Bilderbergers do not break legs or use baseball bats against their intended victims. No, they are far more sinister and lethal. They use money, instead. That’s it?! That’s all you got?! Yep. That's all they need. [Let me explain.] Words: 960

There is no recovery, regardless of what the elite and their minions in the media want you to believe. The economy is sick. It was made so by the malpractice of government and will become even weaker as government continues to administer the poison that got us to this point. The political class’s version of remedy is akin to the medical profession’s practice of bloodletting. Neither does any good and both, carried to extreme, are fatal. [Let me explain more fully.] Words: 548

Politicians foolishly believe they can bend the laws of nature. They are fools for trying. Sadly, the pain and suffering that will be incurred will be borne by the millions of citizens dependent on markets and the economy. The economy cannot recover without a complete cleansing of the excesses that have built up over the last half century plus. [This article spells out why that is the case.] Words: 710