Just last September 18, for example, the entire U.S. financial system nearly collapsed — coming within hours of unprecedented panic withdraws from U.S. banks and money market accounts totaling $5.5 trillion (well over a third of the nation's entire annual economic output).
The chairman of the House capital markets subcommittee, Rep. Paul Kanjorski, recently spoke on the record about the little-known episode, noting "Five-and-a-half trillion dollars would have been drawn out of the money market system of the United States, would have collapsed the economy of the world... it would have been the end of our political system and economic system as we have known it".
During the September 18 crisis "episode," the Treasury Department's emergency pumping of $105 billion into the financial system failed.
It was only after Treasury abruptly announced it would extend existing federal guarantees of $100,000 deposit insurance to $250,000 that the crisis abated (which is fortunate given the feds are already so awash in red ink they would have trouble covering such large losses no matter how many dollars they print).
It's still the United States, for now. I am expecting that to change soon.
The EU as a whole slightly beats us out in total GDP as well as population, which tips the scale in their favor for me (our huge debt might help as well, but the CIA World Factbook doesn't have that stat for the EU).
https://www.cia.gov/library/publications/the-world-factbook/geos/ee.html
https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
The EU is the only thing worse than the United States Federal Government. That and North Korea.
How ya been BG? You gotta be kidding me, based on your criteria no other country comes close.Considering economic, political, cultural, and diplomatic issues across the globe, which nation is the most important, carries the most weight, and has the greatest consequence on the world? And what does this say about this nations position and responsibilities in the world?
USA....because I have that inflated an ego.
I thought you wussed out of here after the asshat wordsIt's undoubtedly not going to be a single nation, that era is over.
It will instead be a shift from the focus of the Atlantic and traditional powers that be, to the Pacific.
US China economic ties is already the most important economic exchange in the world.
The EU is politically fractured and can not properly function as a whole unless europe is actually a singular functioning governing body that has the ability to allocate resources rather than the cross the border and we don't care attitude of now.
Only China and the US are geographically large enough with a functioning central government with policies that encourage entreprenualship and growth.
In all of these things, the US takes the lead.Considering economic, political, cultural, and diplomatic issues across the globe, which nation is the most important, carries the most weight, and has the greatest consequence on the world?
Nothing.And what does this say about this nations position and responsibilities in the world?
Great to see the drama and spin of reality on DP hasn't changed much since my departure.I thought you wussed out of here after the asshat words
The Nation of Domination.
Argue with them.
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