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Posts Tagged ‘U.S.’

A while back we heard about MySpace population being larger than some nations. Now as the Economist reports, Facebook is the largest digital community, 3rd only to India and China in membership:

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Facebook has become the third-largest nation

Jul 22nd 2010

THE world’s largest social network announced that it had reached 500m members on Wednesday July 21st. If Facebook were a physical nation, it would now be the third-most populous on earth. And if the service continues to grow as rapidly as in the three months to July, it will reach one billion in about 15 months—almost the size of India. Not least because of its gigantic population, some observers have started to talk of Facebook in terms of a country. “[It] is a device that allows people to get together and control their own destiny, much like our nation-state,” says David Post, a law professor at Temple University, Philadelphia.

“Sent from my BlackBerry® wireless handheld”

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Interesting study on the Economist: US and Russian sentiments as reflective of each other.

“Sent from my BlackBerry® wireless handheld”

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Iceland is now in the grips of what can only be termed as “hyperinflation”. We talked about Iceland recently in light of the ongoing global financial crisis, and as it turns out the near-full-collapse of Iceland’s financial system is connected to the the turmoil in both the US and the UK. It can be considered a microcosm in fact, which we should all study.

Global Europe Anticipation Bulletin (GEAB) wrote recently:

Studying the case of Iceland can give an idea of the upcoming stages of the crisis. That is what our team has been doing ever since the beginning of 2006. This country indeed provides a good illustration of what the US and the UK should be expecting. It can be considered – and that is what most Icelandic people do today – that the collapse of Iceland’s financial system came from the fact that it was disproportionate to the size of the country’s economy.

The interesting point is how the situation in Iceland can be a good indicator of what lies ahead for the US and UK. GEAB lists the following key points:

  • The recent upward trend of the US Dollar is a direct and temporary consequence of the collapse of stock markets
  • Thanks to its recent « political baptism », the Euro becomes a credible « safe haven » value and therefore provides a « crisis » alternative to the US dollar
  • The US public debt is now swelling uncontrollably
  • The ongoing collapse of US real economy prevents from finding an alternative solution to the country’s defaulting
  • « Strong inflation or hyper-inflation in the US in 2009? », that is the only question.

Check out more of GEAB’s illuminating write-up here.

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Look what Europe has to say about the financial crisis. Is China going to replace the U.S. as a major financial superpower?

http://www.reuters.com/article/newsOne/idUSTRE48O2L020080925

BERLIN (Reuters) – Germany blamed the United States on Thursday for spawning the global financial crisis with a blind drive for higher profits and said it would now have to accept greater market regulation and a loss of its financial superpower status.

In some of the toughest language since the crisis worsened earlier this month, German Finance Minister Peer Steinbrueck told parliament the financial turmoil would leave “deep marks” but was primarily an American problem.

(more…)

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