It finally happened. The United States’ economy is no longer the largest on earth. Who has the biggest economy? That would be the corrupt “People’s Republic of China.”
Business Insider just reported that China’s economy has now officially surpassed America’s. This is the first time since the 1920’s that the United States is no longer on top, economically speaking.
The reason for the toppling should be pretty clear: an economic crash 6 years ago caused by artificially cheap credit, mixed with a new president who seems hell-bent on not allowing the economy to recover.
Massive new healthcare regulations [think Obamacare] that destroy jobs and wealth, massive welfare consumption rather than economic production, and attempts to jack up tax rates have all pushed our economy down when it needed more liberation and lower taxes to grow.
During this same time, China has enjoyed a state-sponsored bubble, an exploding middle class, and an economy that is becoming less and less centrally planned. This isn’t to say the Chinese economy is “healthy.” Of course, China’s economy is founded on corruption, rent-seeking politics, insane credit bubbles, and an absurd culture that hasn’t accepted Western protestant capitalism.
Economists argue over the future of the Chinese economic system. However, realistically, there’s no telling how long China will stay on top. There’s no telling what a popping Chinese bubble could look like. An economy is more of an ecological system than a machine, so making predictions is incredibly difficult.
But one thing is clear: the United States’ economy’s growth has been slow because the government has done everything possible to stop a full recovery.
Please share this article on Facebook so Americans can see what’s really happening. The media mostly ignored this story [as is usual with anything important]… so let’s spread the truth without them.