There is no GFC2
we are simply still in the GFC
It never went away, all the stimulus only delayed the collapse of world economic system rather than solving any problems.
Now every country in the developed world is laden with astronomical amounts of debt, interest rate is near zilch, there is no way to spend out of it again.
I'm afraid I have to say the sky is falling, liquidity will be cut off.
America is hoping Asia to buy its goods to grow the economy, Europe is looking for US to power them ahead, and Asian countries, China in particular, are hoping to continue export growth through developed nations.
In the end, no country will grow, we need a complete overhaul and restructuring of the world economic system. We should have seen this day coming in recent years.
My family went to tour Europe a few years ago, Portugal Italy Greece (PIG) and we saw they were not growing. People were relying on the govt and doing nothing. Let's think about what those countries produce, when the average worker doesn't work hard how does one expect to live better and better?
Globalization will eventually bring a more equal level of the standard of living. Developed countries will have to converge to the living standards in developing countries in order to survive. We simply can't continue our excesses any more.
This is a significant turning point in history, everything is set up for a transition into whatever lies ahead.
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