{"id":2541,"date":"2014-12-06T15:35:42","date_gmt":"2014-12-06T20:35:42","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2541"},"modified":"2014-12-06T15:35:42","modified_gmt":"2014-12-06T20:35:42","slug":"its-official-finally-the-us-is-no-longer-the-worlds-1-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2541","title":{"rendered":"It\u2019s official (finally): The US is no longer the world\u2019s #1 economy"},"content":{"rendered":"<p><a href=\"http:\/\/www.sovereignman.com\/trends\/its-official-finally-the-us-is-no-longer-the-worlds-1-economy-15689\/\">It\u2019s official (finally): The US is no longer the world\u2019s #1 economy<\/a>.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word; padding: 0px; margin: 0px 0px 27px 0px;\">It seems rather appropriate that just seven days after the US government hit a whopping $18 trillion in debt, mainstream financial media has picked up the IMF\u2019s recent World Economic Outlook report, which puts the US economy as #2 in the world.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word; padding: 0px; margin: 0px 0px 27px 0px;\">There\u2019s no shortage of ostriches out there who come up with every reason in the world why this doesn\u2019t matter.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word; padding: 0px; margin: 0px 0px 27px 0px;\">They say, \u2018oh the IMF is just reporting purchasing power parity.\u2019 Or, \u2018oh it\u2019s the per capita GDP that it counts.\u2019<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word; padding: 0px; margin: 0px 0px 27px 0px;\">But the obvious truth is that the US is in decline. And it\u2019s being overtaken.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word; padding: 0px; margin: 0px 0px 27px 0px;\">1,000 years ago when Europe was just a tribal backwater with local warlords duking it out over salt mines, Asia was the center of wealth, power and civilization.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word; padding: 0px; margin: 0px 0px 27px 0px;\">China continued to be the largest economy in the world up through 1870.<\/p>\n<div>&#8230;click on the above link to read the rest of the article&#8230;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s official (finally): The US is no longer the world\u2019s #1 economy. It seems rather appropriate that just seven days after the US government hit a whopping $18 trillion in debt, mainstream financial media has picked up the IMF\u2019s recent World Economic Outlook report, which puts the US economy as #2 in the world. There\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,246,353,834],"class_list":["post-2541","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-economy","tag-gdp","tag-us"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2541"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2541\/revisions"}],"predecessor-version":[{"id":2542,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2541\/revisions\/2542"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}