“America’s GDP, incidentally, was $16.8 trillion on World Bank numbers, and China’s was $16.2 trillion – within a whisker of knocking the US off its perch. The balance of global economic power is on a knife-edge. Tomorrow is almost today.”
When will the public realize that a shift has occurred. If one wondered why a new order is being carved out with the BRICS nations, led by China, then one only has to realize that exponential growth curve by China is accelerating while the West retracts. When you see China advance capital for infrastructure remember that they lend the money, supply the goods and labor, and collect interest from the country in question while America plays soldier games exhausting its resources.
By Dan Schechter
24 July 2014
Traditional U.S. policies – backing Israel whatever it does and assuming the dollar will remain king – are facing new challenges as Israel shocks the global conscience with its war on Gaza and emerging economic powers consider a new reserve currency, notes Danny Schechter.
For years, the term “suicide bombers” has been synonymous with terrorist attacks, especially in Israel. The idea of a martyr willing to give his life for a cause while taking out an “enemy” became a feature of modern conflict especially with resistance movements confronting modern armies.
Oddly enough, the phrase, seems to have blown back today onto Israel itself, as its military engages in a much deadlier “suicide mission,” acting like Ahab in Melville’s Moby Dick determined to slay the monster whale while killing himself.
First, there are the costs to Israel’s economy from the current offensive against Gaza. With many major airlines canceling flights, the summer tourist season has been badly damaged.
Next, Deutsche Welle reports. “The conflict has so far cost Israel’s defense budget more than a billion shekels, some 200 million euros. Eitan Avriel of the business magazine ‘The Marker’ suspects that the army will reclaim this money from the government. more than a billion shekels, some 200 million euros.
“‘The government has already allocated 400 million shekels to support the communities living along the border with the Gaza Strip,’ says Eitan. However, the greatest loss is the decline in the gross national product, he stressed, pointing out that consumption has virtually halved.”
Needless to say, these costs are hardly as dire as the ones being suffered by the people of Gaza, an overcrowded city of 1.7 million that is being destroyed with a growing loss of life. Israel’s casualties are also on the rise.