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BRICs Expected to Surpass the Combined US and EU GDP in 6 years

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posted on Sep, 3 2014 @ 06:03 PM
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Together, BRICS represents over 25 percent of the world’s land, about 40 percent of the world’s population and about 17 percent of the world economy (Los Angeles Research Group, July, 2014) as well as 50 percent of the world’s growth in GDP over the past 10 years, (Aljazeera America, 21 July 2014). BRICS‘ combined 2014 GDP ($10,971.6 trillion) is nearly that of the US ($14,657.8 trillion) and the EU ($16,282.2 trillion) and is expected to surpass the combined US and EU GDP by 2020. (LARG, July, 2014).


Washington Times

International Monetary Fund (IMF) Managing Director Christine LaGarde, seems to be suggesting pooling together a basket of currencies; and, then issuing SDR's, or Special Drawing Rights to participating nations, to replace the US dollar as the world's reserve currency.

So, in only 6 years, the BRIC's nations will have twice the GDP of the US or the EU. Vladimer Putin recently announced the end of the uni-polar world. With the Empire shifting east, so rapidly, there is little wonder why Russia is being demonized these days. Will the West use the big stick, to insure continued world hegemony over these developing nations? Or, will the tides turn in favor of the East, who will be able to afford their own big stick?

Apparently, Donesk is now surrounded by the separatists. Putin suggested that the separatists, allow the Kiev army to lay down arms and go home. On the other hand Kiev is said to have ordered their soldiers to fight unto the death. Will the West, go so far, as to keep the Empire afloat?

I am not sure of what the outcome will be, but my gut tells me that War is on the horizon, as power does not change hands so easily. Perhaps, the BRIC's will capitulate; and, allow the status quo to survive? The fight is for control of the resources. The West would love to appoint a new CEO, for Russia. Are nation states relevant anymore; or, are we actually witnessing a crack in the armor?




posted on Sep, 3 2014 @ 06:18 PM
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a reply to: ogbert

If BRIC can triple their combined GDP in only 6 years then my hats off to them. I'll believe it when I see it.

*Put's foil hat on.

It's almost as if some in power are trying to scare sheeple people into some sort of action.



posted on Sep, 3 2014 @ 06:21 PM
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This in interesting. Last week I heard a talk (don't remember where or who - on the radio driving obviously) about how 'combined' currencies such as the Euro are determental to individual nations. She (I believe it was a woman economist) said that countries, I paraphrase and didn't understand all the particulars, with fiat currencies don't need to worry about ''deficits' as they can issue whatever they need to 'pay the bills' so to speak. That in fact budget deficits were inversely proportional to economic health. Thanks for reminding me about it - I'll try to find the source.

My point - rather question, as I don't really understand what BRICS is or will be - is it a combined currency?

Would - "Special Drawing Rights" be a combined currency?



posted on Sep, 3 2014 @ 06:25 PM
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this is great news. just watch america and israel they will try and dismantle brics before they lose profits.



posted on Sep, 3 2014 @ 06:26 PM
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a reply to: SLAYER69

I guess the question is that if they do, will it be the same owners, jumping ship?

And, what's in it for the States? If the US is bumped outta Reserve Currency status, maybe a lot of those exported jobs will be coming home .

I agree with you about the fear. We live in interesting times.



posted on Sep, 3 2014 @ 06:27 PM
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No doubt emerging countries include din the BRIC can accomplish such feats.. thats where the advancement is, west is a stale market.

My company just send 30% of the lab work to India. Planning to keep rest but eventually disband and just keep marketing here.

Those countries are advancing in an exponential rate.



posted on Sep, 3 2014 @ 06:28 PM
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originally posted by: ogbert



Together, BRICS represents over 25 percent of the world’s land, about 40 percent of the world’s population and about 17 percent of the world economy (Los Angeles Research Group, July, 2014) as well as 50 percent of the world’s growth in GDP over the past 10 years, (Aljazeera America, 21 July 2014). BRICS‘ combined 2014 GDP ($10,971.6 trillion) is nearly that of the US ($14,657.8 trillion) and the EU ($16,282.2 trillion) and is expected to surpass the combined US and EU GDP by 2020. (LARG, July, 2014).


Washington Times

International Monetary Fund (IMF) Managing Director Christine LaGarde, seems to be suggesting pooling together a basket of currencies; and, then issuing SDR's, or Special Drawing Rights to participating nations, to replace the US dollar as the world's reserve currency.

So, in only 6 years, the BRIC's nations will have twice the GDP of the US or the EU. Vladimer Putin recently announced the end of the uni-polar world. With the Empire shifting east, so rapidly, there is little wonder why Russia is being demonized these days. Will the West use the big stick, to insure continued world hegemony over these developing nations? Or, will the tides turn in favor of the East, who will be able to afford their own big stick?

Apparently, Donesk is now surrounded by the separatists. Putin suggested that the separatists, allow the Kiev army to lay down arms and go home. On the other hand Kiev is said to have ordered their soldiers to fight unto the death. Will the West, go so far, as to keep the Empire afloat?

I am not sure of what the outcome will be, but my gut tells me that War is on the horizon, as power does not change hands so easily. Perhaps, the BRIC's will capitulate; and, allow the status quo to survive? The fight is for control of the resources. The West would love to appoint a new CEO, for Russia. Are nation states relevant anymore; or, are we actually witnessing a crack in the armor?


So let me ask a question here. Where does all the debt go they have already accrued? I can't see a single scenario where this will work. It's like Obamacare . . You can't spread out one policy over a bunch of little territories as each territory is different.

Also, I do not see any rich nations, or poor for that matter, wanting to join into this. Because as I see it, the most powerful nation is going to dictate the currency of all the others no matter what. It won't work unless the Dollar completely destroys itself.



posted on Sep, 3 2014 @ 06:29 PM
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a reply to: ogbert

I think we're beginning to see the lines being drawn in the Ukraine and elsewhere around the globe.
Any flashpoint will do to start ww3, the west will not allow the BRICS nations to challenge their hegemony.



posted on Sep, 3 2014 @ 06:30 PM
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a reply to: ogbert

As Christine LaGarde is charged and under investigation (again) for fraud it's doubtful she'll be directing this. Who knows maybe that's why she's in trouble in the first place, for suggesting the dollar be replaced.

As far as BRICS surpassing us in GDP that may be just speculation and forecasting. As the US is unsurpassed in destabilizing nations I would suspect many emerging nations might end up in the cross hairs as we attempt to stave off the inevitable. Guess we'll see but it looks like 20+ countries have already dropped using the dollar for oil and gas purchases and Saudi Arabia is also in talks about doing the same.

Will we fight to the death to maintain our position? I believe we might which is probably why Russia and China are taking fractional steps to undermine the west. They understand the boiling frog method as well. Regardless of that no reserve currency is forever though we may be the last reserve currency depending on who's running things in DC when the plug is finally pulled.



posted on Sep, 3 2014 @ 06:37 PM
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a reply to: FyreByrd

BRICS is an alliance of Brazil, Russia, India, China and South Africa.

Recently, they signed an agreement to use thier own currencies for trade vs US dollars.

Recent Thread

If you are the US and hold reserve status, you can print as much cash as you want; and, trade for oil.




The BRICS complaints ranged from moral objections to U.S. perversion of its reserve currency status, namely that the U.S. has been printing money to fund its budget deficits for two generations. There are also many more practical objections, such as the threats of default on U.S. obligations to foreign holders of U.S. bonds — which would cause a collapse of the dollar and a worldwide depression.

Article Referenced Above



posted on Sep, 3 2014 @ 06:40 PM
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But look at Bric's GNP compared to America's. These countries products are a lot cheaper and they have a lot more people working. All they have to do now is raise their prices and they will be up there quickly. Since the US is making overexpensive products but relies on these places to produce then just marks things up, we are in a bad place. Raising the products up from this country to compensate will cause inflation and devalue our dollar when they decide to do this. The GNP of America looking as it does is a deception, they have changed how this was calculated over the years. GNP now contains things like rent. That is not considered GNP in my book. The GNP here also includes military purchases, where small groups of companies get lots of money. I wonder if contractors working in Iraq had income considered as our GNP. All markups of items from these countries are considered in our GNP also. Sometimes the markup is more than the cost.

Judging the state of the Economy has become a big scam. Lies are not something to build stability off of.



posted on Sep, 3 2014 @ 07:03 PM
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a reply to: OptimusCrime

What I get out of the article, is that the US may lose reserve currency status. What this means is that the US dollar will be allowed to float with other currencies- from countries that are not financially insolvent. The US now owes more than their annual Gross Domestic Product. This has not bid well for nations in a similar situation in the pastt.

Before Nixon, the US was the largest lender nation- now it enjoys being the world's largest debtor nation.

After the Great Depression, the Dow remained hovering around 1,000 until the 1980's.-50 years Paper has exploded!

When the US made arrangements with the OPEC nations to trade dollars in oil in exchange for military protection, we went off of the gold standard and the petro-dollar was born. It is sort of an empire tax on the other countries of the world.



posted on Sep, 3 2014 @ 07:17 PM
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I would be greatly suprised if BRICS exists in 6 years. In the first 5 they only managed to agree on one thing, the bank. The BRICS bank is suppose to just loan money without any politcial restrictions like you find at the IMF World Bank. However, this is where BRICS is going to run into problems. China is not going to be ok with loans to countries that support Taiwan or a free Tibet, India is not going to be ok with loans to people like Pakistan, etc. In the end China will dominate BRICS. I expect India will be the first to leave followed by Brazil and South Africa since they already have their alteranative to BRICS called IBSA.



posted on Sep, 3 2014 @ 07:24 PM
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a reply to: MrSpad

Good Point! I read somewhere that China is making deals with African Dictators, where the Western banks won't tread, due to political matters.

"Hey, how about a new yacht , golf course, and Palace worthy of your excellency?" Just let us manage your gold resources"



posted on Sep, 3 2014 @ 07:30 PM
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a reply to: FyreByrd

Found it, Dr. Stephanie Kelton, on a special addition of Beneath the Surface on KPFK radio on August 29, 2014. The first half of the program:

archive.kpfk.org...

It is part of a series on "Alternative Responses to the Global Economic Crisis" but I don't know where to find the rest of the series.

Here is a web site to peruse as well - an interesting take on things monetary. The site hosts a number of economic bloggers:

neweconomicperspectives.org...



posted on Sep, 3 2014 @ 08:07 PM
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a reply to: FyreByrd

I found Dr Kelton's blog. Lil easier than radio archives.

Thanks!
neweconomicperspectives.org...



posted on Sep, 4 2014 @ 12:14 AM
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That is all well and good, but GDP is a very blunt measure of the relative strength/weakness paradigm of an economy.

For instance, the BRICS GDP measure may surpass the "west" very soon, but this is almost entirely due to China.

Russia is flat lining, Brazil is faltering under the weight of huge tariffs and massive taxation/red tape, India is beginning to do well & thats it.

Europe is also negatively effected by the toxic southern European economies & very large debt/gdp ratios.

However the one key thing GDP does not measure is personal income, it is a net measurement.

Personal income levels in the BRICS will I believe literally never reach those of western Europe or the USA, the simple reality is there are simply too many people in the BRICS.

[India + China + Brazil + Russia] in terms of population comes to between 2.9 and 3 billion people.

the USA + the EU comes to little over 1 billion.

Same amount of money, 3 times as many people.

Also despite how unequal the USA + some western European countries are in terms of wealth distribution, they literally pale in comparison to wealth inequality in ALL of the BRICS. Brazil, Russia, China & India are some of the most unequal countries on earth.

This means the middle class will only get big if the ruling class give way which usually means social tension, hence the outcome is not all that is suggested by a simplistic GDP measure.

Look at median personal income, this is the best indicator of the real wealth of a countries middle class & hence economic lifeblood



posted on Sep, 4 2014 @ 12:29 AM
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a reply to: rickymouse

If prices are raised why would people buy from them? The reason they buy is it's cheap. If prices were raised we would see manufacturing jobs leave in droves.



posted on Sep, 4 2014 @ 09:13 AM
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originally posted by: OccamsRazor04
a reply to: rickymouse

If prices are raised why would people buy from them? The reason they buy is it's cheap. If prices were raised we would see manufacturing jobs leave in droves.


To rebuild all our factories in this country would not be profitable for big business unless the government loaned money to these big businesses at very low interest rates. Our government is in a bad place to do that, our debt is huge. We let big business buy up and close too many factories.

Our government wants people dependent on it, having to import most of what we need gives them control. Problem is that consumerism as a base of the economy has never historically worked for long.
edit on 4-9-2014 by rickymouse because: (no reason given)





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