Taco wrote:Tsar wrote:I think the world markets should crash. The only way for a real economic recovery is to let everything collapse.
There won't be an economic recovery after the next market crash. All western countries will enter third world economic status and will stay there.
Most Western countries already are in a third world status:
America:
-Banana Republic
-Rampant Crime
-Massive Socioeconomic inequality
-Record poverty and mass poverty
-Great wealth and income disparity
-A water crisis
-Decaying infrastructure (especially water pipelines that should have been replaced, many bridges)
-A lack of fiber optic and high speed internet across most of America
-Barriers to entry to keep many people poor or on the sidelines, protecting the interests of a few
I meant in general, some nations of the world will recover but many Western nations won't. There will even be some countries that aren't greatly effected by the economic collapse of the West.
The mightier the nation, the grander the fall.
America - Ground Zero. Bankrupt. It will be the worst collapse in all history and America will take several decades before it even begins to recover. A Totalitarian government will probably take power in America as a result of the collapse.
Canada - Massive collapse because they're connected to America and China
Britain - Bankrupt and beyond recovery
China - Reliant on exports to the West (America, Canada, Britain, the EU, etc) - They will go down economically with America
The EU - They will collapse and possibly break apart. I see some countries like Southern Europe recovering and maybe Germany, but that's only if they break apart and return to their pre-EU monetary status.
Australia - Reliant on exports to China and commodity exports - They will collapse like Canada
New Zealand - Similar to Australia but it's more insulated. They're a food producer and exporter
Japan - Reliant on exports and trade, heavily connected to America and the West - Major collapse and bankrupt
Saudi Arabia - With the World collapsing and mass poverty, they will go bankrupt from an inability to sell oil
Israel - Will collapse without American military support and money, they are reliant on America to defend them and back them. Without their benefactor they lose a lot of their power.
Free-trade and globalization will ensure no economic recovery happens to any country that has those practices.