I remember just a few years ago, when I would speak publicly that I thought that there was no way that this country could stay afloat much longer under Rushpubliscum policies, I’d get laughed at. Called nutty. Dismissed out of hand.

Read this, and then tell me who you think is right.

Think real hard, if you’re old enough to remember. What was the US like in 1999, and what’s it like now?

Bubba made a lot of mistakes, but his tax hike for the ultrarich was precisely the right thing to do. With the rich paying something closer to their fair share, and our (comparative) non-involvement in foreign wars, we were excelling. Then, we got 8 years of Rushpubliscum giveaways to the rich, warmongering, and dismantling of the infrastructure.

And these Rushpubliscums were people in a hurry. They worked fast to destroy the economy now and forevermore, and to hand all the wealth they could find to a few people at the top. To keep their programs running, they pitted Americans against each other. They invented the “Kenyan” slur for the President to allow racists to use a word that approximates “n****r.” They invented “welfare queens,” and gave them black and brown colors. They talked about a “return” to “traditional values” that their base of ignorant white racists correctly decoded as a return to white supremacy. They started wars in other places, to kill even MORE brown people who didn’t love Jesus.

And, perhaps most importantly, they played to the selfishness of their ignorant white, racist base. They convinced them that ANY social spending money was just going to be wasted by a bunch of n****rs and wetbacks. So we don’t improve highways anymore. We don’t fix bridges. We don’t educate children, because our teachers are the new Rushpubliscum welfare queens, and our schools are just places to ladle out goodies to minorities.

The destruction the Rushpubliscum Party has visited on America is stunning. Tojo, Hitler, Stalin, Kim Il Sung, Mao, Saddam….. all of these evil men dreamed of doing to us what the Rushpubliscums have done. If they were alive today, I am certain they’d be delighted with what’s happened.

Thanks to the SCOTUS, they could even hire the Rushpubliscums as their agents. Like the Chinese have done, and are doing.

And the Chinese are on the cusp of reaping the rewards they have sown.

 

The International Monetary Fund has just dropped a bombshell, and nobody noticed.

For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.

And it’s a lot closer than you may think.

According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.

Put that in your calendar.

It provides a painful context for the budget wrangling taking place in Washington right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.

According to the IMF forecast, whomever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy.

Most people aren’t prepared for this. They aren’t even aware it’s that close. Listen to experts of various stripes, and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.

But they’re miscounting. They’re only comparing the gross domestic products of the two countries using current exchange rates.

That’s a largely meaningless comparison in real terms. Exchange rates change quickly. And China’s exchange rates are phony. China artificially undervalues its currency, the renminbi, through massive intervention in the markets.

The IMF in its analysis looks beyond exchange rates to the true, real terms picture of the economies using “purchasing power parities.” That compares what people earn and spend in real terms in their domestic economies.

Under PPP, the Chinese economy will expand from $11.2 trillion this year to $19 trillion in 2016. Meanwhile the size of the U.S. economy will rise from $15.2 trillion to $18.8 trillion. That would take America’s share of the world output down to 17.7%, the lowest in modern times. China’s would reach 18%, and rising.

Just 10 years ago, the U.S. economy was three times the size of China’s.

Naturally, all forecasts are fallible. Time and chance happen to them all. The actual date when China surpasses the U.S. might come even earlier than the IMF predicts, or somewhat later. If the great Chinese juggernaut blows a tire, as a growing number fear it might, it could even delay things by several years. But the outcome is scarcely in doubt.

This is more than a statistical story. It is the end of the Age of America. As a bond strategist in Europe told me two weeks ago, “We are witnessing the end of America’s economic hegemony.”

 

There are huge caveats here, the most important one being Chinese domestic instability. The Chinese people are getting more and more fed up with the economic disparities, the inequalities of wealth, and the horrid situations that “free” trade have left rural Chinese in. The Chinese leadership, unlike ours, is actually aware of the problem, and is taking steps to try to introduce “morality” back into Chinese economic life. Will they succeed? It is hard to tell. If they do not succeed, the Chinese people will do for themselves what their Government fails to do.

But, you know, so will we. I have said for awhile that I think that it’s an even bet that there is no 2016 Presidential election in the US, because the US will have ceased to exist by then. Both countries do face the possibility of domestic collapse. It is far more likely here, of course, because we have an Executive that (1.) continues the ruinous policies of its predecessor, and (2.) has lost interest in enforcing the rules of the United states Constitution on places dominated (right now) by Klanbagger tyrants. People here, I suspect, are going to give up quicker than the Chinese will, who are traditionally more disciplined.

The United States of America is, by regional inclination, likely to split into about 5 separate nations, with the southeast retaining the “USA” name. There may be violence when the separation starts to occur, and there may not be; after all, we have an Executive that refuses to enforce the Constitution, and we have a lot of people on both sides of the Mason-Dixon line who have no interest in preserving the Union. They’ve become too busy just trying to survive the ravages the Rushpubliscums have set loose upon the nation.

In any event, our day is certainly done. There doesn’t seem to be any way that I can see to survive what those flag-waving patriots have done to us.

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