For one thing, we'd have a Europe dominated by either Nazi Germany or the Soviet Union, or possibly split between the two. I suspect that we'd have seen a situation analogous to England and Ireland, with one nation at best neutral if not actively helping the Nazis. Which nation would be up for grabs; the North had most of the ethnic Germans and Italians, but the Nazi ethic of Teutonic racial superiority would be more in line with the Confederacy's policy of white racial superiority. Even had both been recruitable to the allied cause, neither could have fully committed to the war; each would have needed to keep resources and troops available to counter the other.
As a general rule, if one maintains that absolutely nothing good would have resulted from the South winning its struggle for secession, one will never be far from right.
"What if the south had won" is a question I've always found interesting. I find the following a particularly interesting take:
http://en.wikipedia.org/wiki/Southern_Victory_Series
The long story short is that the USA ends up allied along the german side and the CSA with the entente/"normal" "allies".
On the original topic: uh, no.