Friday, February 24, 2012

Thom Hartmann: Global power shift to the Bric nations?

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A global power shift is occurring underneath all of us. With the United States economy still struggling through the muck - and the European economy in complete free fall - new economic powers around the world are seeing this as an opportunity to gain more power in the global marketplace.
In a direct affront to the International Monetary Fund and the World Bank - the BRIC nations - Brazil, Russia, India, China, and South Africa - are floating the idea of setting up their own multilateral bank - funded by these developing nations to help finance projects within their own nations. According to IMF projections - BRIC nations are set to see strong economic growth this year - while most of the Western World stagnates. For example - the US economy is expected to grow by less than 2% in 2012 - while the austerity-driven Eurozone is expected to actually contract by a half-percent. On the other hand - BRIC nations like India and China are looking at growth rates of 7% and 8% respectively.
The world economy is changing - and the banksters and corporate CEOs can see it - which is why they're looting America of whatever wealth she still has left - and taking their business overseas to the developing world. As for the rest of us - if we don't take back our government and economy soon - then we're headed for one long slide backwards.
(Do you think the slide will be reversed? Tell us here.)

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