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"The EU - and its euro - is failing. The Anglosphere elite that set it up in the first place will either try to salvage it as it is or will use the chaos from the breakup to pursue its goal of a more perfect global union.""It is as likely, in our humble view, to founder entirely as it is to continue as an organized political entity." As a result, global power brokers will fail, not succeed. Chaos is very risky strategy. Instead of order, collapse perhaps is coming.
Progressive Radio News Hour regular Bob Chapman agrees, but believes throwing money at the problem can delay final resolution. At the same time, the longer bad policies persist, the greater the eventual upheaval with profound global implications.
Major economies are growing weaker. Europe's in serious trouble. So is China, but manipulated data conceals it. Its Shanghai index, however signal's trouble. It hit its lowest level since March 2009 when global equity prices bottomed out.
Moreover, in recent years, China's been a key worldwide equity leading indicator. Expect other markets and economies to follow its pattern that's decidedly heading south.
In fact, recession already is biting Europe. Moreover, in six or more troubled economies, conditions are dire, especially in Greece, Italy, Portugal and Spain, but expect others to follow, including Britain and France. Even powerhouse Germany isn't immune as downturn gains momentum across Europe.
In addition, emerging countries like India, South Africa, Brazil, Russia, and others are slowing dramatically.
Like the Daily Bell, Chapman wonders if EU strategy is "to break up the euro zone and the EU, (perhaps as a prelude to) world government. We know that since WWII that the internationalists have been setting up Europe as the foundation for world government," despite unreported popular opposition.He saw trouble coming years ago and said so. He believes Britain opting out last week "cast the die and now Germany must respond. It is either let's make a deal or the EU and the euro zone break up. Who knows, perhaps that is what Germany is after" to consolidate greater power for itself.
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