The privileged and governing classes had at least $21 trillion stashed off shore in 2012. Noone with offshore millions are feeling any real pain.
There’s lot of talk about pulling manufacturing out of China and a renaissance in Made in America manufacturing. Most of the talk is unrealistic. Product owner adr explains why at Zerohedge in his comments on . Staying Ahead Of The Shortages:
Frankly, Mr Chubais’s efforts on behalf of Russia would be better rewarded with a jail cell than a government office.
Perfectly normal and sane to strip the earth bare and poison the air and the water in an economic system which requires infinite growth on a finite planet
Over at MoonofAlabama, b (would-be heir to billmon, probably the best socio-political blogger to ever put finger to keyboard) recently penned an engaging editorial, "The West is Past". The headline is creative hyperbole but does make the solid point that the USA and Britain by driving Russia and China together have created for themselves a difficult situation which could result in losing Europe. Not soon as it appears that either the funds to bribe Euro politicians are bottomless or that our politicians are very inexpensive wholesale by the bushel.
What surprised me was not b’s editorial but the reaction of veteran MoonofAlabama commenters. It appears they are died in the wool anarchists. A main thrust of comments on this article ostensibly about the infighting and decadence of the G7 was to cast stones at the Silk Road.
While a lot of Clinton’s *bonhomerie* was empty glad-handing, he radically shrank the deficit. The USA had a chance of turning a profit.