Back up your statement with facts and evidence that the institution of the NRST would cause a "huge recession."
I'd also suggest buying up pesos, since the dollar would become next to worthless.
Again, where is your facts and evidence to back up your claim the US Dollar would become worthless.
As I've said before, throwing the bomb of a consumption tax into a consumption based economy is practically uncharted territory. Given the gooberness of the guys who've been feebly researching but boisterously propagandizing this over the years, I can say that the utopian conclusions and mutual back scratching haven't helped the clarity.
That all being said, do you think that people will make their old toaster and towels do rather than spending more for a new set? Repair and recover furniture rather than buy new stuff? Engage in an orgy of new spending on household goods and other taxed items immediately before the tax comes into play, thereby keeping their budgets down for years to come? How about cars and new houses?
Do you really believe that retailers will drop their prices, or will they behave as always?