zebu111
08-17-2010, 03:21 AM
The economy has not recovered. By the end of this year it will be obvious that the collapsing economy means a larger than $1.4 trillion budget deficit to finance. Will it be $2 trillion? Higher?
Whatever the size, the rest of the world will see that the dollar is being printed in such quantities that it cannot serve as reserve currency. At that point wholesale dumping of dollars will result as foreign central banks try to unload a worthless currency.
The collapse of the dollar will drive up the prices of imports and offshored goods on which Americans are dependent. Wal-Mart shoppers will think they have mistakenly gone into Neiman Marcus.
Domestic prices will also explode as a growing money supply chases the supply of goods and services still made in America by Americans.
The dollar as reserve currency cannot survive the conflagration. When the dollar goes the US cannot finance its trade deficit. Therefore, imports will fall sharply, thus adding to domestic inflation and, as the US is energy import-dependent, there will be transportation disruptions that will disrupt work and grocery store deliveries.
Panic will be the order of the day.
Will farms will be raided? Will those trapped in cities resort to riots and looting?
Is this the likely future that ??our? government and ??our patriotic? corporations have created for us?
The Ecstasy of Empire (http://www.infowars.com/the-ecstasy-of-empire/)
Whatever the size, the rest of the world will see that the dollar is being printed in such quantities that it cannot serve as reserve currency. At that point wholesale dumping of dollars will result as foreign central banks try to unload a worthless currency.
The collapse of the dollar will drive up the prices of imports and offshored goods on which Americans are dependent. Wal-Mart shoppers will think they have mistakenly gone into Neiman Marcus.
Domestic prices will also explode as a growing money supply chases the supply of goods and services still made in America by Americans.
The dollar as reserve currency cannot survive the conflagration. When the dollar goes the US cannot finance its trade deficit. Therefore, imports will fall sharply, thus adding to domestic inflation and, as the US is energy import-dependent, there will be transportation disruptions that will disrupt work and grocery store deliveries.
Panic will be the order of the day.
Will farms will be raided? Will those trapped in cities resort to riots and looting?
Is this the likely future that ??our? government and ??our patriotic? corporations have created for us?
The Ecstasy of Empire (http://www.infowars.com/the-ecstasy-of-empire/)