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  • China Wants the U.S. Dollar to Drop Dead
    Yes, the United States has been reckless in issuing debt and using USD for foreign policy ends. This can, somewhat painfully, be brought under control. Alas, this is not going to happen near term. The incoming administration of Obama is centered on Marxist economics. It may be well meaning but has an historic record of failure and no success. It also relies on dictatorship or unacceptably strong central government. If McCain gets the presidency there may be some hope in the long term. Phil Graham may be a Treasury Secretary and he does understand economics. His problem is he is a pompus ass and probably will get in the way of any progress. McCain clearly has little conceptual grasp of economics.
    So for the near term we will continue in deep economic problems. For the long term the markets will win out. However, wtih dangerous gvernment policies and ignorance on how the government could really help there is nothing to look forward to but a depression.
    Oct 29 11:02 am |Rating: 0 0 |Link to Comment |View article

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