Well, whatever else did you expect? I am beginning to think that the situation in some countries in Europe could be repeated in America and as the contagion spreads, to Asia as well; unless China steps forward as did America at the end of WW2 at Breton Woods. It is an intriguing prospect, The Central Bank of China, Abacus at the ready, sitting at the head of the table sorting out the mess with the previously dominant financial nations sitting as supplicants in the bottom chairs.
I trust this nightmare will end and we shall all wake up from a bad dream
The question now becomes, when does the stuff hit the fan? The Government is convinced they can stop hyper-inflation in time. But hyper-inflation isn't just a monetary phenomena it is also a psychological one. With the US buying ALL of its debt in very short time period, what country in the world will want dollars?
The wealthy will be fine. The poor will be fine(the elite will make certain the poor have what they always have.) The middle class will be wiped out.
Well, whatever else did you expect? I am beginning to think that the situation in some countries in Europe could be repeated in America and as the contagion spreads, to Asia as well; unless China steps forward as did America at the end of WW2 at Breton Woods.
ReplyDeleteIt is an intriguing prospect, The Central Bank of China, Abacus at the ready, sitting at the head of the table sorting out the mess with the previously dominant financial nations sitting as supplicants in the bottom chairs.
I trust this nightmare will end and we shall all wake up from a bad dream
Cheers from Aussie
We will wake up, but not to a bad dream--------it is called REALITY and there is no pill to cure it.
ReplyDeleteThe question now becomes, when does the stuff hit the fan? The Government is convinced they can stop hyper-inflation in time. But hyper-inflation isn't just a monetary phenomena it is also a psychological one. With the US buying ALL of its debt in very short time period, what country in the world will want dollars?
ReplyDeleteThe wealthy will be fine. The poor will be fine(the elite will make certain the poor have what they always have.) The middle class will be wiped out.
For what its worth LS, I think the middle class is already gone----------
ReplyDelete