NEW YORK - Conventional wisdom rarely survives a good stress test, and few tests have been as stressful as that which the global economy has endured over the past 24 months. A healthy season of reappraisal has dawned, shining a new light on boom-time notions like the value of opaque markets, the untouchable status of the American consumer, or the wisdom of deregulation.
One piece of bubble wisdom that has escaped relatively unscathed, however, is the assumption that the "BRIC" countries - Brazil, Russia, India, and China - will increasingly call the economic tune in years to come. The BRIC notion, coined in a 2003 Goldman Sachs report, is not all bad: at 75 percent correct, it scores a good deal better than most economic prognostications of the day.
Yet the economic crisis that began in 2008 exposed one of the four as an impostor. Set the vital statistics of the BRIC economies side-by-side and it becomes painfully obvious that, in the words of the old Sesame Street game, "One of these things is not like the other."
Read Full Article >>>
Tags : Yuan China Currency Lo Argentina Bank Banks Collapse Corporations Corruption Economic Government IMF Neo-liberal Policies Swindle Theft World Business Commerce Finance Issues Law Legal NASDAQ:PCAR News NYSE:CAT NYSE:CMI NYSE:DE NYSE:MTW NYSE:TEX Personal Science Shopping Technology China Depletion Devaluation Dollar Federal Inflation Oil Paul Reserve Ron Credit Crisis Economy Housing Market Mortgage Stock Jim Rogers Depression Economist Estate Housing Hyperinflation Meltdown Mortgage Real Subprime Ben Bernanke Fed Street Wall 2nd American Revolution, America, Autumn Trends Journal, Barack Obama, Ben Bernanke, economic collapse, economic crisis, economic decline, economic meltdown, economic recession, financial crisis, financial meltdown, Gerald Celente, global recession, Greatest Depression, Project 2012, Trends Research Institute, United States, US recession, USA, war on terror, Zionist
No comments:
Post a Comment