| MaxwellGT2000 said: Yikes... it seems when the US is in trouble the whole world hurts =( |
Back in 1929 the US depression affected many European countries (probably non-european ones too but I'm european and the history lessons where a long time ago) due (in part) to international trade as the US not only didn't have the money to buy the goods but the government raised tariffs (thus making imports less attractive and worsening international trade which slowed and crashed other economies).
I haven't studied the numbers but I would imagine that with the US's greater hegemony since WWII and the rise in worldwide trade that non-US economies would be massively more linked to the Us economy than in 1929 and thus much more likely to suffer heavily when the US suffers heavily.
Don't be surprised if the US loses its superpower status in the near future (economically at first, but you can't maintain a state of the art army if you don't have the money to pay for the troops, their training and the high-tech equipment) and is replaced by the Chinese.
Much as I dislike US politics (nothing against you in particular guys, I dislike most countries' politics) they are hundreds of miles better than China's politics (the best bet as next superpower).
Of course this is kinda a worst case scenario and things hopefully won't go that bad but I wouldn't bet too much on it.
"I do not suffer from insanity, I enjoy every minute of it"
