World Economic Match Up

Today’s global economic climate is like some twisted experiment in Chaos Theory. The smallest, most insignificant events can lead to unpredictable and disastrous consequences. The micro-flutter of a butterfly’s wings can trigger a chain reaction that grows into a macro-catastrophe on the other side of the planet.

As the world slowly recovers from one of the worst financial disasters in history, the fate of even the most stable countries depends on the economic survival of the weakest. When the tiny city-state of Dubai nearly defaulted on their foreign debt at the beginning of the year, a shockwave reverberated across major international stock markets. A sheik in the Middle East bounced a check, in other words, and the overdraft fee was deducted from your 401(k) balance.

Now more than ever, we need to recognize which countries are standing on solid ground. On our map these are the green countries. The yellow sectors are not in immediate danger of collapse, but may be pushed over the edge the next time somebody tickles the global panic button. Finally, there are the red-zone nations teetering on the brink of ruin, just a butterfly’s sneeze from dragging the rest of us into the abyss.

IRELAND


At the turn of the century, the “Celtic Tiger” roared in a short-lived resurgence, thanks to booming property markets and debt-fueled spending. Today, Ireland’s double-digit unemployment rate is one of the highest in Europe.

PORTUGAL


The socialist ruling party blames a steep slide in tax revenues for jaw-dropping increases in deficit spending. Portugal’s debt load accounts for 85 percent of gross domestic product. The government has tried belt-tightening reforms, but even the sunniest economic forecasts call for an agonizingly slow death under crushing debt obligations.

SPAIN


The Spanish economy continues to shrink, and a strong rebound in labor-market growth is desperately needed. Experts predict that the national unemployment rate could peak at a staggering 25 percent. Among the youngest workers, the jobless rate has soared to over 40 percent.

ENGLAND, FRANCE, AND GERMANY


The color of money is green, unless of course you live in Europe, where the shared currency is printed in every color of the rainbow. Recovery across the “Euro Zone” has been slow and uneven. The largest economies in northern Europe—England, France and Germany—are reasonably stable, but their future is linked to debt-ridden neighbors known collectively as the “PIIGS” (Portugal, Italy, Ireland, Greece and Spain).

ITALY


Italy’s Audit Court has cautioned city governments from borrowing money via risky derivative contracts that could weigh down local public budgets for generations to come.

GREECE


Greece is struggling to meet debt repayments totaling more than €300 billion, which is roughly 120 percent of gross domestic product. Jittery European leaders have been forced into an uneasy pledge to bail out their neighbor in the event of a crash. If Athens collapses into ruin, a domino effect could spread across southern Europe and beyond.

RUSSIA


The world’s largest supplier of oil and natural gas has been hurt by weak demand and low prices. Trading partners have serious questions about Mother Russia’s commitment to democratic principles and market transparency. This is the shakiest bet among the powerful “BRIC” bloc of emerging markets (Brazil, Russia, India and China).

VIETNAM


Trade deficits and inflation fears have led to currency devaluation. Reports suggest that Vietnamese residents have begun stockpiling gold and U.S. dollars.

CHINA


China is the 800-pound gorilla of globalization. The communist regime has permitted entrepreneurship and competition in cautious doses. At the same time, China nurses foreign appetite for their low-cost products by manipulating the exchange rate of their currency. China continues to emerge as an economic superpower.

HONG KONG, SINGAPORE, SOUTH KOREA, AND TAIWAN


The four “Asian Tigers” imposed tough reforms following a regional credit crisis in 1997. As a result, they were relatively well positioned to ride out the current storm. Their future is still dependent on China’s insatiable growth. Luckily, 2010 is the “Year of the Tiger” on the Chinese lunar calendar.

JAPAN


Once the undisputed economic champion of Asia, Japan has limped through two decades of near-zero growth. The worldwide financial crisis has led to a troubling drop in demand for expensive Japanese goods.

NORTH KOREA


Crazy doesn’t count as an export when you are giving it away for free. The reclusive midget tyrant Kim Jong-Il has imprisoned this nation of 23 million on the brink of starvation. The meltdown of his totalitarian regime could result in a humanitarian disaster that overwhelms the resources of China and South Korea.



<< Return to the April 2010 Index of Fusion

Taiwan's Foreign Minister Joseph Wu is now warning that his nation is preparing for war with China after Beijing flew a record number of warplanes over Taiwanese territory. Wu reached out to another country for help, but it wasn't the United States.

In a video, Wu urged Australia to help prepare for a possible invasion, but gave the U.S. no mention.

"The defense of Taiwan is in our own hands, and we are absolutely committed to that. And if China is going to launch a war against Taiwan, we will fight until the end. And that is our commitment. And, of course, during this period of time, we would like to exchange with other countries for security cooperation," Wu said on ABC News In-depth's China Tonight program. "We would like to engage in security or intelligence exchanges with other like-minded partners, Australia included, so that Taiwan is better prepared to deal with the war situation. And so far, our relations with Australia is very good. And that is what we appreciate it for."

On "The Glenn Beck Program," Glenn, Pat Gray, and Stu Burguiere discussed whether or not America would do anything during such a conflict — because it sure seems like President Joe Biden is more focused on working with China to fight climate change. Plus, why did China just cut off all cryptocurrency?

Watch the video clip below to catch the conversation:

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On "Glenn TV" tonight, Glenn Beck heads to the chalkboard to reveal how the fundamental transformation of America has already begun by turning the Declaration of Independence upside down.

If Donald Trump was a dictator, then what do we call President Biden? In Biden's first nine months in office, he has already issued 64 executive orders – that's more than Trump, Obama, W. Bush, Clinton, Bush, and Reagan each issued in their entire first years in office.

You never hear the Left talk about the Declaration of Independence, the Constitution, or the Bill of Rights any more, unless it's to "reimagine" the Constitution or slap a "harmful content" warning on our founding documents. Seriously. The National Archives said while its website label wasn't targeting the Constitution specifically, "some of the materials presented here may reflect outdated, biased, offensive, and possibly violent views and opinions." The Left finds basic, guaranteed rights so offensive they now spend all of their time on workarounds to deal with America's annoying founding documents.

Watch the full episode of "Glenn TV" below to see Glenn outline the aggressive unconstitutional abuses "King Biden" is jamming down our throats and teaches Americans how we can defend against presidential tyranny.

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On the "Glenn Beck Radio Program," Glenn explained why he wouldn't be surprised to see our supply chain collapse and empty shelves in America in the near future. Shortages are already wrecking our economy, China (where many of our goods are still made) is facing an energy shortage, and the Biden administration sure seems to be doing everything it can to make things worse.

Glenn noted a serious warning from American CEO Mike Beckham: "There's a major storm brewing in the supply chain," Beckham wrote on Twitter.

Thanks to China's centrally planned system, electricity shortages are causing huge delays in product manufacturing. In fact, some items are facing a 33 percent cut in production. "It could dramatically impact every [American's] life next year. But almost no one knows about it yet," Beckham warned.

Glenn went on to explain exactly what this means for you — and what you can do to prepare.

Watch the video clip below to hear Glenn break it down:


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Every decision made by President Joe Biden has ended in "disaster," Bill O'Reilly told Glenn Beck.

O'Reilly joined the radio program to explain why he thinks there's only one "mechanism" Americans can use stop the Biden administration's mess.

"Give me one thing that [Biden] has done, just one, that's improved this nation. Everything that he has been involved with is a disaster. Everything from the COVID mandates, to the energy policies, to the economic policies, to the inflation, to Afghanistan, to the collapsing southern border, to the social woke business, to the denial of due process. Right across-the-board, there isn't anything this man has done, or stood for, that's improved America," O'Reilly said.

"But there is no mechanism to do anything about it until a year from this November: the midterm elections. That's the only mechanism that we have, under the Constitution. We elected this guy and he's there for four years. You neutralize him next November [2022], with the Republicans taking back the House and Senate, then he's done. [He] can't do anymore damage because you've got him in a hole. And he's not going to be proactive with executive orders. He's just going to stay there in his jammies for two more years. OK? So that's the only mechanism."

O'Reilly also tore into the corporate media for using its power to defend Gen. Mark Milley after news of his China calls broke. Is there any deterrence in American society anymore to keep our leaders and media in check?

"What does this say to the United States of America when you have two of the most powerful information agencies in the world — NBC, Comcast, and AT&T, CNN — actively deceiving you?" O'Reilly said. "They know what they're doing. And yet there is absolutely no way for anyone to hold them accountable other than not watching them, which has, of course, happened. You know they have no audience. But just the corruption level of the information flow to the American people is at an all-time high. We have never had a worse media in the history of this republic."

Watch the clip below to hear O'Reilly break it all down:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.