I searched through the boards and I found one reference to this, but it was never linked and the title was wrong. Some of his essays have been posted
in the Survival side of the house, but in terms of Global Meltdown, I though this document should be shared.
Undoubtedly, many of you have heard of things like the "Missile Gap" and the "Bomber Gap" from Cold War days. Erroneously, I've heard repeated
-even on this bulletin board- that the collapse of the US will be like the collapse of the Soviet Union (SU). This is incorrect, and Dmitry Orlov
will field why in his famous posting:
Closing the Collapse Gap.
Those of you in non-US countries should probably think about how anchored you are to the US economy. When we go down, we're dragging you with us.
Most foreign governments are going bankrupt about the same time ours is. Don't believe me? Have a look at
this article from SafeHaven.com and the public debt numbers from the
CIA World Fact Book.
The United States is #27 in terms of the public debt as a percentage of the GDP. Some notable countries ahead of the US are: France (23), Canada
(22), Germany (20), Israel (15), Norway (13), and Japan (3).
In terms of
external debt as a US dollar amount the US
is #1, followed by the UK, Germany, France, and so on.
What does this mean? Well, it means we're in some serious trouble.
All of
us. Even countries that are exporting to the debt-laden countries will be devoid a customer for their goods once their consumers go bankrupt.
This means not as much revenue, the economic woes infect your economy, and the 'downturn' is at your house. Domestic consumption could certainly
remain, but the money won't be rolling in.
So check out
Closing the Collapse Gap by Dmitry Orlov.
I'll post in the Survival section a follow-on I have in mind.