We are running out of people willing to lend us money to cover our current account and government deficits -- and it is getting worse by the day.
Care to provide some factual basis for this claim?
BTW, no one needs to "lend us money to cover our current account... deficit." The very creation of the current account deficit is its own financing - we give them dollars, they give us tangible goods and services. The parties holding the dollars can either sit on them and earn nothing, by US goods or services, by US assets or securities, or sell them to someone else who will face the same choices.
2004 is the second year in which we will witness the demise of the dollar ...
That's a prediction, not an argument, and it assumes we've already seen "the demise of the dollar." We haven't even matched the dollar decline from '85-'88 and we're smack in the middle of the range from '88-'98. Hardly qualifies as "demise", big guy.
investmenttools.com
-- a year when you will see the true cost of a weak dollar in the face of the growing mountains of debt we face and the strain of carrying the burden of our "living beyond our means" lifestyle.
Nice virtual sound-bite, but does it have any real meaning? What is "the true cost" and how do you measure "the strain of carrying the burden"? Come on, GST, just what ARE you predicting? In measurable, tangible terms, please.
PS: The "party" ended Spring 2000 and those who didn't switch to some weird kind of Kool-Aid are over their hangovers and clear-headed again. What's in that Kool-Aid you've been drinking? |
