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

Our sacred republic has never been in more danger than it is today. Little by little, industry by industry, the far Left is fundamentally transforming the country we love. And it's an aggressive, hostile kind of takeover we've only seen in some of the world's darkest societies.

On Glenn TV this week, Glenn Beck exposes how the Biden administration and Democrats are aggressively scrambling to reset everything: our free and fair voting system, our kids' education, our policing, immigration and border security, our economy, our military, and our energy supply.

Finally, Congressman Dan Crenshaw (R-Texas) joins to discuss how Biden's "woke" policies are threatening America's national security and our way of life.

Watch the full episode below:

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Apparel company The North Face recently stated that it would no longer make jackets for oil and gas companies because it doesn't want to be associated with the fossil fuel industry. In response, Colorado-based oil and gas company Liberty Oilfield Services rented full billboard ads to remind The North Face of the truth: "Globally, 60% of all clothing fibers are made out of oil and gas. For North Face, it is likely 90% or more."

Liberty CEO Chris Wright joined Glenn Beck on the radio program Tuesday to discuss just how much of our economy — beyond outdoor apparel and energy — wouldn't exist in a world without fossil fuels. And he warns that many companies are now deeming this truth to be "controversial."

"I have been for years, trying to get a real, honest dialogue about energy going," Chris told Glenn. "So we took this opportunity to point out that North Face jackets are ... almost completely made out of oil and gas. How can you choose not to associate with the essential material your equipment [is] made out of? So we put a billboard up ... the billboard says, 'That North Face puffer looks good on you. And it was made from fossil fuels.'"

"Most billboard companies did not want to run that billboard. They thought it was controversial," he added. "And Facebook put a hold on our brief video just saying the jacket looks good, this is what it's made out of. In today's world, that is controversial."

Watch the video below to catch more of the conversation:

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During a lecture at the Yale School of Medicine's Child Study Center, a New York City-based psychiatrist told students and faculty that she fantasizes about "unloading a revolver into the head of any white person that got in my way," among several other shockingly race-hating statements.

In April, Dr. Aruna Khilanani — a New York-based forensic psychiatrist and psychoanalyst — delivered the talk called "The Psychopathic Problem of the White Mind" virtually as part of the Yale School of Medicine's "Child Study Center Grand Rounds," a lecture program for "trainees in child psychiatry, psychology, and social work, faculty, clinicians, and scientists."

On the radio program Monday, Glenn Beck shared several quotes from an audio recording of the lecture provided by Bari Weiss, a former opinion writer and editor for the New York Times.

Here are a few of Khilanani's statements from the audio:

  • "This is the cost of talking to white people at all. The cost of your own life, as they suck you dry. There are no good apples out there. White people make my blood boil."
  • "I had fantasies of unloading a revolver into the head of any white person that got in my way, burying their body, and wiping my bloody hands as I walked away relatively guiltless with a bounce in my step. Like I did the world a f***ing favor."
  • "White people are out of their minds. And they have been for a long time."
  • "White people feel that we are bullying them when we bring up race. They feel that we should be thanking them for all that they have done for us. They are confused, and so are we. We keep forgetting that directly talking about race is a waste of our breath."
  • "We are asking a demented, violent predator who thinks that they are a saint or a superhero, to accept responsibility. It ain't gonna happen. They have five holes in their brain. It's like banging your head against a brick wall. It's just like sort of not a good idea."

"We must take a stand. We must speak out, because this is evil," Glenn said in response to Khilanani's shocking lecture. "I don't care who you voted for, you know this is evil."

Watch the video below for more details:

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The prices of our houses and food are already rising fast, but they will skyrocket to record highs if we don't fix the problem soon. So what's causing the inflation?

On the radio program this week, Glenn Beck said he doesn't believe it's the fault of our loggers, farmers, or truckers — many of them are really struggling. But the big corporations that control these industries are making record profits, all while the Biden administration is making some very odd decisions that could make the crises even worse.

Watch the video below for more details:

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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.