The New York Times ran a recent article about income disparity in the U.S., this time focusing on geography. It seems that the Atlantic corridor, centered in New York City and Washington, DC, has far and away the greatest concentration of household wealth per square mile, and has benefited also as income disparity has turned into a runaway freight train.
The real economic collapse could come by the end of this year
This article is meant to be provocative. Global Research does not necessarily share its conclusions.
Letter to my son
My dear Muhammad Ali:
I told you that it’s a funny world getting funnier. Many American analysts are saying that America’s real economic collapse could come by the end of this year. “It will come to be known as ‘The Crash of 09’, they say. Others, especially a Russian political analyst, are predicting its physical collapse too. There’s no doubt that the country is up the dirtiest of imaginable creeks without a paddle. But what’s amazing is that America remains mired in stunning denial, continuing to make bad situations worse with useless bailout plans and messing around with the world instead of facing up to the reality that its time as a hyper-power is up, that’s its economic system has failed and that its only recourse is to end its adversarial doctrine and get out of its lost wars as painlessly and honourably as possible. There’s no point in going on flogging dead horses. The only sensible thing that survival demands is to craft a new moral economic and financial system and a moral foreign policy.
The deep recession verging on depression that we have seen so far was caused by the crash in the US housing market. Since other developed industrialised nations, especially of Europe, were aping the shenanigans of unchecked and poorly regulated American bankers and financiers, the collapse of their markets, banks and economies followed like dominoes. Iceland was the first to officially declare bankruptcy. Its GDP is only about $6.5 billion but its banks had lent something like $65 billion while its regulators were asleep on the wheel. Britain has not declared bankruptcy officially but we all know that it is bankrupt for all intents and purposes and none of its banks and financial institutions has any legs left.
However, this is only the aperitif. Wait for the crash of US commercial real estate, which analysts think will happen by autumn this year.
Thu, 26 Mar 2009 03:36:45 GMT
A Russian scholar, who had earlier predicted the collapse of the US, has offered President Barack Obama ways to prevent such a misfortune.
Former KGB analyst and Russian academic Igor Panarin, who has predicted the country’s 2010 disintegration on the back of mass immigration, economic decline, and moral degradation, insisted in a Monday interview that a revisited foreign policy may more than anything prevent the fall of the United States.
“I would, in the first place, suggest that he radically reduce the US foreign policy activities, especially in the Eurasian space,” Panarin said speaking to Russia Today.
Updated: Jan 1, 2009 Added map and link to another story and another video report
Updated: Nov 27, 2008 added video
MOSCOW, November 24 (RIA Novosti)
19:31 | 24/11/2008
A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts.
Professor Igor Panarin said in an interview with the respected daily Izvestia published on Monday: “The dollar is not secured by anything. The country’s foreign debt has grown like an avalanche, even though in the early 1980s there was no debt. By 1998, when I first made my prediction, it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only collapse.”
The paper said Panarin’s dire predictions for the U.S. economy, initially made at an international conference in Australia 10 years ago at a time when the economy appeared strong, have been given more credence by this year’s events.
When asked when the U.S. economy would collapse, Panarin said: “It is already collapsing. Due to the financial crisis, three of the largest and oldest five banks on Wall Street have already ceased to exist, and two are barely surviving. Their losses are the biggest in history. Now what we will see is a change in the regulatory system on a global financial scale: America will no longer be the world’s financial regulator.”
He predicted that the U.S. will break up into six parts – the Pacific coast, with its growing Chinese population; the South, with its Hispanics; Texas, where independence movements are on the rise; the Atlantic coast, with its distinct and separate mentality; five of the poorer central states with their large Native American populations; and the northern states, where the influence from Canada is strong.
He even suggested that “we could claim Alaska – it was only granted on lease, after all.”
“There will be civil war in US in 2009”
The break-up of America into six pieces? Alaska joining the Russian Federation? Will Russia survive the crisis? Igor Panarin, a Russian professor of economics, discusses these questions when he dropped by the RT studio on Thursday.
Russian Professor Predicts the USA Disintegrates
CNN talks to Prof. Igor Panarin who theorizes that by 2010 the United States will fracture.