The Phaserl


As The Crisis Deepens, Gold Flows East – Part 2 (of 3)

from Gold Core:

In A Zero Sum Game, Someone Has To Be The Loser

What is at stake is illustrated by the difference in oil consumption between Asia and the West. The former, exemplified by China and India, is still increasing its consumption growth. The latter, basically the OECD, has been using less oil each year since the crisis began in 2008. This is unsustainable. The OECD’s deepening recession is evidenced by its falling oil use while the fragility of the export dependent and imported energy dependent East’s growth prospects suggests that its real growth rate is about to peak or already has.

Complicating matters is the zero interest rate policy and quantitative easing now being pursued across the OECD.

This has further exacerbated a forty year growth of income and wealth disparities that is displaying its tangible face in huge unemployment and underemployment rates and widening hunger as the unemployed fall out of the social safety nets that we have become accustomed to depending on to alleviate the human cost of recession.

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