I don’t believe that hyperinflation would be restricted to USD. All major central banks hold substantial dollar reserves. Increasingly, they are diversifying into commodities and metals. The euro is not better off than USD with free spending countries such as Ireland, Spain, Greece dragging down the relatively solvent Germans. As usual, the UK has a higher ratio of debt to GDP than the US (although, we now have a greater slope upwards). Japan also has a tremendous amount of debt relative to GDP after years of Keynesian economics.
Whatever happens, the entire world economy will be affected and calls for one world central bank and global governance will ensue. We don’t have much time to right the ship. The establishment of an effective third party only weakens our resources and wastes precious time. That’s why our first goal should be to get rid of the most pernicious elements of our government. With single-minded determination we must DEFEAT THE DIMS.
Agreed.
As the article correctly points out this has been happening for some time nearly 3 decades now. It has just been well hidden from the citizens.
I agree the world will feel this sudden stop. They are heavily invested in the US and the productivity of our citizens. Our dollars are backed by the “good faith and credit” of the United States. That my FRiends is us. In a crazy sense we're not the biggest consumers of the worlds goods, we're the biggest slaves. We've pledged our own productivity...
Weimer tried the tactic to print itself out of their WWI debts. I submit this is what 0bama is doing about our debt too. They think they can do this and stop just short of the crash. The problem is once you see the signs of the crash...it is already too late. The greed of the administration will blind it to the signals to stop.
I submit the fact we're seriously discussing these kind of events...it is already too late.
A third party would need to be successful right from the getgo. That is why any talk of a third party is counterproductive. Rush Limbaugh makes this point over and over again. The thing to do is hold republicans to tough standards and if they fail to meet those standards vote only then for a third party candidate but never ever vote for a democrat.