<The point is, the US (and much of Europe, and Australia, and New Zealand) will start its Japan imitation right around 2009. The fleet of foot will be able to move their worldly wealth into yen and RMB-denominated accounts, but it will still suck in the US for about 14 years as real asset prices collapse>
But ACF, US assets include QUALCOMM assets and QUALCOMM will be selling vast quantities of ASICs and BREWed cyberspace to people around the world. If the population of the USA simply disappears, it won't make much difference to QUALCOMM's sales to the other 6 billion people [the world population will grow by more than the current total population of the USA by 2010].
There are many other USA businesses too, which will enjoy huge sales around the world. The 2010 share prices of the Nasdaq will not solely, or even seriously, be dependent on sales to USA baby-boomers.
Microsoft, QUALCOMM, Oracle, IDEC, Intel, Motorola, Lucent, IBM, Dell, McDonalds, Starbucks, etc, sell around the world.
I think I'll continue to bet on Irwin Jacobs, Uncle Al and Uncle Sam for now. Gold is just another physical asset, but with the added burden of a monetary mythology to try to maintain. Therefore, I continue to hold US$ and QUALCOMM [$ only until the post-Y2K stockmarket bust and telecosmic corporate implosions slow down and the smoke clears].
Mq |
