Quote from: picolo on December 20, 2014, 01:49:53 PM

Quote from: exoton on December 20, 2014, 11:15:21 AM

Quote from: STT on December 20, 2014, 03:42:08 AM

By production USA is not even number two, its really subject to upset if it was not able to import as now. USA is #1 in food production potential ? factors like that make me think we dont see a total melt down whatever does happen
Russia has problems with declining population, its not especially productive even in oil and gas it lacks innovation that USA could boast of. Yes by pure numbers Russia has alot but so does Canada, it doesnt equate to productive capacity if the cost becomes too high and for oil exploration and extraction they use foreign workers and technology to make best use. They are exporters of the raw product but as we see now that can be a weakness because its the middle east who have the very easiest lowest costs. Russia needs the world, I dont think they are near to number two and by people its not the force it once was.

China has people but also in decline, again I think they do need world trade to make the best. In gold they are top in production but sorely lacking in actual reserves still, they refuse to disclose an accurate measure. Mostly I think this allows them to buy at a lower price, generally China is interested in acquiring not just the product but various commidity resources across the globe. One I used to own, produces at cost 1600 an ounce but thats still cheap enough for them to buy apparently; of course at a distressed price and they can idle till true demand is shown is my guess

Ironically USA has growing population and various positives. It also has the highest gold reserves and some production but its debt is so overwhelming (and ongoing tax burden, deficit, red tape, etc) all the positives are overshadowed till its dealt with.

The US is primarily a service based economy so most of what it produces is services for others to consume. This does include the development of technology and things like IP which can easily be exported to other countries when appropriate. It has been a long time since the US has produced a large amount of goods (like the kinds of things that China tends to produce)

The USA use to be an industrial nation, they are still very good in a lot of sectors but nowhere near the best in industrial production.

True, but this does not matter. The world economy is no longer as dependent on industrials anymore, with the exception of rebuilding from wars, however US industrial companies are able to handle this volume of work