Thursday, July 26, 2012

News: South Korean Growth Slows

Global economic troubles continues with Korea experiencing a slowdown in growth; the slowest level in three years.  Now the US would kill for a 2.5% growth annual rate right now, but the major danger is that Korea has only recently moved to a more market-oriented economy.  If their economy slows enough, and given the global situation it will slow, this could result in a reversal of all the reforms they have enacted through the years.  And the reversal of these reforms would further slow the Korean economy.

Moreover one thing needs to be kept in the forefront of your brain.  What we are going through is a global crisis, the kind that happens every century or so.  Almost a 100 years ago it was the Great Depression, which interestingly enough, coincides pretty closely with the demise of the European colonial system that had dominated the world for since the discovery of the new world in the late 15th century.  Does this economic event signify the end of America's preeminence?  I am inclined to say no, as long as the US remains whole we will be a power to reckon with, but others do disagree.  Eitherway get ready since the 'event' is coming and it will touch every nation on this planet to some degree.

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Seattle resident whose real name is Kevin Daniels. This blog covers the following topics, libertarian philosophy, realpolitik, western culture, history and the pursuit of truth from the perspective of a libertarian traditionalist.