The economic decline of the West: Part 1.3 - Introduction

[Camlon]

He lost me when he started talking about dropping wages, he assumes that there is a fixed amount of economic output. The major reason poor countries are poor, is due to inefficiency.

The biggest reason for decline in the western world, is the decline of the population.

[thenumber13dotnet]

Had to laugh out loud when he said that the demand for steel by China in the early 80's was high and guess what they built with it yep steel mills. So the decline in demand for steel from the west went belly up...someone should have thought THAT through ^_^

[ZenChat]

This video is a very naive representation of how things will play out.

The real world is far more complicated.....

There a dozen more parameters which has not been taken into consideration.

I am not saying China and India will not be economic powerhouses, I am saying, US will still be the force to reckon with atleast for the next 30years...

[NotLuckyInLife]

I hope it is only because he didn't have the time to include the other data sources. It in a nutshell is a dire picture and we don't have a way to work or produce our way out of this and as a result what will keep America running when the world doesn't adhere to the dollar standard anymore? We are going to do what for currency that is of value to anyone else? We don't have anything to sell anyone as that is the basis of trade IE: need. Who needs what from us at this stage? Entertainers??????