“The Bluff Of Western ‘Well-Being’”
In the News (stoletie.ru): “The phrase ‘economic growth’ – one of the most commonly used in the lexicon of liberal economists. At the same time it is cleverly used by politicians and statesmen of the West to give out for the black white and vice versa. The term ‘economic growth,’ as well as the statistics used to measure it, have long been the means of manipulating public consciousness. And also the means of covering destructive and even suicidal policies of the “golden billion” in the economy. …
“Can you trust indicators of gross domestic product (GDP) and other similar indicators, measuring economic growth? – Definitely not. First, there is the widespread practice of statistical fiddling and fraud. Particularly successful in this statistical service is the USA. …Second, changing the methodology of the calculation of GDP, as a ‘product’ it includes all sorts of dubious ’services’. As a result, the structure of the US GDP, the real economy (industry, agriculture, construction) accounted for a little more than 1/5; the rest – services. Yes there is, of course, vital services, for example, transport and communications. But at least half of the total US GDP, according to our estimates, – ‘air’.
“By ‘air’ and all sorts of additions, the statistical services in the US and other countries of the ‘golden billion’ manages to ‘paint’, ‘positive dynamics’ of their economies. …
“Anyone, even a novice economist, knows that companies, corporations, other business entities have assets and liabilities. Assets – property and various requirements (e.g., requirements on loans, goods delivered, etc.). Liabilities – above all, the various obligations (for example, service obligations and repayment of loans, payment of the goods, etc.). Even people who are far from economics and accounting are well aware that if the commitments (in other words, the debts) begin to outweigh assets, then a company faces bankruptcy.
“Surprisingly, in relation to countries, such a simple and intuitive approach of the assessment of their economic situation is rarely used. Especially the so-called ‘economically developed’ countries. And they, in the meantime, either are already bankrupt or are on track to bankruptcy. But very few people notice it. The problem is very simple: increases in debt of the ‘economically developed’ countries have over the years exceeded their GDP growth. In other words, the increase in debt business in an entity called an ‘economically developed country’ far exceeds the growth of its assets. The phrase ‘economic growth’ in relation to these countries looks more than strange. This ‘economic growth’ is with a ‘minus’ sign.
“Now specific data. I borrow them from the famous Finnish economist, businessman and politician Hellevig Jon (Jon Hellevig). He is one of the few foreign economists, who exposes the falsification of Western economics and statistics and shows that the US, EU countries and other countries of the ‘golden billion’ – are complete bankrupt. The most generalized picture of the western economy through 2013. Hellevig gives in his work “Awara Group is Study on the Real Growth of GDP Net-of-Debt”. It contains calculations of real GDP, adjusted for changes in debt. ‘The adjustment is very simple: the official measure of annual real (i.e., inflation-adjusted price changes) GDP growth is subtracted the country’s debt growth for the same year. This will be ‘the most real’ GDP growth. However, soon it will be a ‘very real’, or the present decline in GDP. …
“In all Western countries, the annual increase in the national debt is several times higher than the annual growth rates of GDP. Hellevig gives the following figures for the period 2004-2013 gg. Increase in the US national debt for the decade was 9.8 trillion. USD, and GDP growth -.. about 2 trillion dollars thus exceeding the growth of debt on growth in US GDP was five times. …
“Judging by the figures, which are listed in Hellevig’s work, countries such as Denmark, the United Kingdom, Sweden, Spain and several other countries have long been actually bankrupt. And countries such as the USA, France and Italy are already close to it.
“Their bankruptcy and parasitic existence due to the ongoing alignment of the country’s debt pyramid ‘golden billion’ are fig leaves used to cover the official GDP statistics. …
“The illusion of ‘well-being’ and a ‘high level’ of economic development in the ‘golden billion’ countries, is supported not only by a sly statistics. The main means – is massive and constantly growing borrowing from the rest of world.
“To carry out such borrowing is due to the fact that the Western countries have the ‘printing press’, creating astronomical amounts of money. Converging with this, the ‘printing press’ money is used not only and not so much for the operation within the countries of the ‘golden billion’, but for the purchase of goods, services and assets all over the world.Ultimately, the money accumulated in the international reserves of the countries of the world capitalist periphery. The undated and almost non-interest bearing promissory notes of the West will not be paid. …
“In conclusion, we can cite some statistics, revealing the secrets of “economic prosperity” countries of the “golden billion”.
“The US Central Intelligence Agency to regularly keep records of the external debt of almost all countries in the world (about 200 countries is taken into account).
“According to the CIA’s latest data, in 2012 the world’s foreign debt was equal to $ 70.60 trillion. (Roughly comparable to the size of global GDP).
“That country in the first line of the table of the CIAis : US – US $ 18.85 trillion; the European Union – 17.95; Japan – 3.02; Switzerland – 1.54; Australia – 1.48; Canada – 1.33. The total external debt of these ‘golden billion’ countries was 44.17. That is 62.6% of the world debt. …
“One gets the following picture: the higher the country’s level of external debt, the less are its foreign exchange reserves. And vice versa: the more foreign exchange reserves, the lower the level of external debt. All this clearly reflects the parasitic nature of the countries that we used to refer to the category of ‘economically developed countries.’”
My Comment: Everything is depending upon a future world war that will “erase” everything or the recognition of the need for a true reconstruction of the individual and society, and not the economy. This is what the wisdom of Kabbalah offers.
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