By Lowell Ponte
Lowell Ponte, a veteran think tank futurist, predicts in the January 2018 issue of Real Money Perspectives that many factors that could devastate the American economy in the New Year. This is Part Two of the dangers he foresees. To See Part One of Lowell’s 2018 Predictions, click here.
The European Union Strikes Back
To protect a battered Western Europe from Soviet invasion after World War II, the United States created the North Atlantic Treaty Organization, NATO, and extended our military nuclear umbrella over its members. This freed Western Europe from the cost of national defense, allowing its nations first to recover, then to build welfare states envied by American liberals that were, in effect, subsidized by American taxpayers.
Our European NATO allies are happy with this arrangement, taking offense when President Donald Trump asks them to pay the promised 2 percent of GDP. “Countries that are immensely wealthy,” said Mr. Trump on December 18, “should reimburse the United States for the cost of defending them.”
Most of Europe’s nations are being dissolved into the new empire of the European Union, in which national borders no longer control immigration or trade. As Craig R. Smith and I explain in Money, Morality & The Machine, this “Superstate,” as founder Jean Monnet envisioned it, was to be created piecemeal, by deception, with Europeans denied a democratic vote on whether to undo their national identity. The EU would be – and now is — run by an elite of unelected progressive Eurocrats.
The European Union is largely controlled by Germany, which is using it to try conquering the continent for the third time in 100 years – this time by economics and the Euro currency. No wonder that in June 2016 the United Kingdom, seeing it was being colonized, voted to Brexit, to leave the EU.
On December 14, 2017, 23 of the EU’s 28 members in the European Parliament agreed to PESCO, “Permanent Structured Cooperation,” which creates military cooperation, then integration, and ultimately replacement of national militaries with a unified military under EU command outside of NATO. For this, these nations have the money. The five EU members not agreeing to join PESCO are Denmark, Ireland, Portugal, Malta, and the United Kingdom, which is still trying to leave the EU.
This EU military, we argued, is designed to disarm nations and give the European Union the power to crush all future attempts of members to secede. PESCO will, indeed, be “permanent.” The EU would then feel free to be a military and financial rival rather than an ally subservient to that former European colony, the United States, which voted for Mr. Trump to assert its anti-globalist and nationalist values.
The European Union is the only bloc that now economically rivals the United States. The EU’s annual Gross Domestic Product is around $16.4 Trillion, approximately $2.2 Trillion less than ours. China’s is $11.2 Trillion, Japan’s $4.94 Trillion, and Germany’s $3.47 Trillion.
Russia, by comparison, ranks #12 in global GDP with only $1.28 Trillion – less than the United Kingdom, France, India, Italy, Brazil, Canada, or South Korea. California, if it seceded and became a nation, would have double the GDP of Russia.
But with its outsized nuclear arsenal, and its zeal to again be an empire, Russia plays the game of nations like a card shark. It has moved into the power vacuum that President Barack Obama left in the Middle East, aligning itself with Syria and with Iran’s nuclear ambitions and design for a “Shiite Crescent” flanking Israel and Saudi Arabia from Lebanon to Yemen. The new autonomous European military dangerously weakens America’s hand.
To schedule a fascinating interview with Lowell Ponte, a former Reader’s Digest Roving Editor and veteran talk show host, contact: Sandy Frazier at 516-735-5468 or email email@example.com.
For a free copy of Lowell Ponte’s 2018 predictions in Real Money Perspectives, and/or a free copy of Craig R. Smith and Lowell Ponte’s latest book, Money, Morality & The Machine, contact: David Bradshaw at 602-918-3296 or email him at firstname.lastname@example.org