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How will the EU manage the pending collapse of the US Empire? | 48 comments (48 topical, 0 editorial, 0 hidden)
Re: How will the EU manage the pending collapse of (none / 1)
The economic rationale of the post WWII Military Industrial Complex was to avoid the global recessionary impact of a sustained US trade surplus at the same time as providing for a strong employment economy in the US without recourse to the New Deal mechanisms of the government fulfilling its obligations as Employer of Last Resort.

Does the Chinese trade surplus have a "global recessionary impact"? That is, does the savings glut theory have any merit?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Wed Oct 15th, 2008 at 04:23:44 AM EST

How will the EU manage the pending collapse of the US Empire? | 48 comments (48 topical, 0 editorial, 0 hidden)
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