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Editor's Blog
Editor's Blog
Blogs » Editor's Blog

It Is The US Economy, Stupid!

The saddest part of the US Presidential election is that both sets of voters believe their man can restore the US economy.

In fact, neither can.

The US is bankrupt. The country has an annual budget deficit of $ Trillions.
Most of the dollars that the US overspends end up in Chinese bank vaults.
The Chinese now have so many dollars that they do not know what to do with them.

If the Chinese ever spend too many of the dollars they have under their control, the impact on the World economy will be catastrophic. The US dollar would devalue and since it is the World's Reserve Currency i.e the one people are meant to trust, this would cause a planet-wide economic crash.

Yes, it really is as simple as that.

So the US will go on issuing dollars and, one day soon, the 800 Million poor Chinese people will tire of accepting Greenback IOUs they can never call in. When they do, down we will all crash.

God help us - because neither of the two Presidents-in-waiting can.








 

Tuesday, 6th November 2012

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