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Is an Economic War Replacing the Cold War?
In today’s “Global Outlook,” Bloomberg’s Trish Regan and Peter Cook examine the relationship between the United States and Russia and the impact of economic sanctions on Bloomberg Television’s “In The Loop.”
8 Comments on "Is an Economic War Replacing the Cold War?"
Makati1 on Mon, 24th Mar 2014 12:30 am
Ah yes, Bloomberg is a reliable source of information … NOT!
GregT on Mon, 24th Mar 2014 3:53 am
“Is an Economic War Replacing the Cold War?”
I sure hope not, if Putin takes down the US economy, Canada goes down with it.
Meld on Mon, 24th Mar 2014 8:18 am
Of course it is. Everyone and their uncle has nukes now which means any conventional attack is basically M.A.D.
What is happening is a highly tactical global economic warf among the super powers to see who can bring about economic revolution and collapse in the enemy, without being fingered for the blame. Currently the US is winning but the tide turned with The Crimea and might be now shifting towards Russia and china
Davy, Hermann, MO on Mon, 24th Mar 2014 12:35 pm
“Is an Economic War Replacing the Cold War?”
Look, all players understand the consequences of trade wars, economic battles, and protectionism. We have seen significant integration and cooperation in the past 20 years. There has been a few instances of protectionism but few. We see complaints and counter complaints but never of any significance. This problem has developed into a situation where economic wars are much like nuk wars in that they lead to mutual destruction. Russia is not in a position to fight the global system economically. It is bless with resources but also cursed by them. Its economy is not diversified and extremely reliant on natural resources. Its markets and currency are not healthy. The society and government have multiple ills that I see little to admire. China is in a debt unwind, growth stagnation, capital flight, severe pollution, food/water/energy stress. Basically China is in a state of overshoot to its carrying capacity its economy is a huge Ponzi scheme of debt. This debt bubble is unravelling currently. Its economy is reliant on exports and part of this export growth is achieve through buying US treasuries to maintain its currency. The US is a global power but in decline. It is saddled with huge unfunded liabilities. A market in financial repression through debt monitarization creating a stock market bubble. This bubble is fed through a wealth transfer to the very wealthy through stock ownership. A significant portion of the economy is financial related and in effect parasitic. Its government is hugely sensitive to interest rates because of its budget deficits. It’s financial, industrial, and political system is now a revolving door of patronage, corruption, market manipulation, and a disregard for law. It’s society is in decline with hyper consumerism, debt, drug/alcohol abuse, obesity, and crime. Europe has an economic system that when the global economy is good and Europe’s trade is high the system is great. The nature of the system turn sour when economic times turn bad. As with all unions in bad times subsidies are needed in weaker areas. To do this increased integration is needed but will never happen. What result from this is no performing regions are seeing their debt explode and economies contract. Europe is in a deflationary spiral with a society that in good times is a model of the world but in bad times clearly unstainable. Europe is living way beyond its means. It is now basically staying afloat with financial repression of the European central bank. Europe is clearly broke with a society in decline. We know all the players strengths. Do you honestly think any of these players are in a position to cripple the global economy further in an economic war which will cause immense harm to all if it turns into a continued escalation? None of these sick economies can afford a war now and they know it. There may be threats but this will just be rhetoric. At some point the pain will be so high among all the rhetoric will quiet out of mutual pain. The global economic system is very close to a severe contraction or collapse. If this system is forced it will have unintended consequences that will leave all players in a painful unrecoverable position. That is when the real war will start when the economy breaks down and social fabric frays.
Makati1 on Mon, 24th Mar 2014 2:35 pm
Davy, Russia is just likely to take the US down if the idiot in DC keeps making threats. I don’t see what you base your view of Russia on other than the BS in the MSM. The petro dollar has been in trouble for at least a decade and when China and Russia decide it is time, it will tumble. You seem to think that the Us is indispensable. Well, I got news for you, it ain’t. Never was. Never will be.
Davey on Mon, 24th Mar 2014 3:25 pm
Makati we can agree to disagree
Boat on Mon, 24th Mar 2014 4:20 pm
European union = 16 trillion GDP
US GDP = 16 trillion
Russia GDP = 2 trillion
Russia would take out who?
Military spending
NATO = 990 billion
US = 682 billion
Russia = 90 billion
We should swat the pest of Russia.
Davey on Mon, 24th Mar 2014 4:46 pm
Tell em boat. Sometime here propagandist are speaking from emotions and desire to soil the truth in the name of their ideology.